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Analysts: Yuan will do better in 2017


12-29-2016 16:25 BJT

The Chinese yuan lost value against the dollar in 2016. But it was relatively strong compared to all of the major currencies in the world. How will the yuan change in the coming year and what will be the impact on China's forex reserves? Analysts gave some projections.

Professor of Tsinghua University, Li Daokui, said, "(Chinese yuan) won't see great depreciation pressure next year. The yuan-dollar rate is going to lose as much as 5 percent. I think that will be the cap. Forex reserve is likely to drop. And the forex rate market could be gradually stable in the middle of the next year."

Chief economist of Bank of Communications, Lian Ping, said, "Short-term capital flows are the main body raiding the markets. Once it was consumed, the capital outflow in the next year will be eased. Another key factor for easing capital outflows is a more stable economic performance. Capital flows will be balanced due to the in-and-out moves. Thus depreciation pressure won't be too big."

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