China not forex controller: official
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Yi Gang, central bank vice governor and director of the State Administration of Foreign Exchange, answers questions today at a press conference on the sidelines of the National People's Congress, the country's top legislature. |
China is not a foreign exchange controller, and it does not force settlement of exchange, a central bank vice governor said Tuesday.
"Many friends have an impression that China imposes foreign exchange control and compulsory settlement. Such an impression is actually not right," said Yi Gang, vice governor of the People's Bank of China.
Yi, also director of the State Administration of Foreign Exchange, made the remarks at a press conference on the sidelines of the National People's Congress, the country's top legislature.
