Former PBoC policy member warns of renminbi depreciation risk
Fan Gang, a former member of the monetary policy committee of the People’s Bank of China, warns investors of the risk the Chinese currency may not continue to appreciate against the US dollar at a forum in Hong Kong today.
The renminbi may stop appreciating against the greenback in the near future, according to Fan Gang, a director of National Institute of Economic Research and former academic member of monetary policy committee of People's Bank of China.
Fan told a China Daily forum held in Hong Kong today that the renminbi appreciated 5% against the greenback last year and pointed our there is a 4-percentage-point difference in inflation between the China and the US, so, in real terms, the renminbi appreciated
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