BEIJING, Nov 3: China will redouble its efforts to soak up liquidity in the banking system via open-market operations and higher deposit reserve requirements, a vice central bank governor said on Saturday.
Wu Xiaoling, vice governor of the People’s Bank of China, also reiterated Beijing’s plan to increase the flexibility of its currency regime and, ultimately, make the yuan fully convertible.
Wu, speaking at a forum in Beijing, said the bank would enhance its efforts in keeping credit and money supply in check as a way of stabilising market anticipations of inflation.—Reuters
