China’s CSRC says foreign holding of yuan assets explains currency strength


Reuters Staff

SHANGHAI (Reuters) – Overseas investors have a tendency to hold yuan-denominated assets, which helps explain the Chinese currency’s strength against a backdrop of weakness in some other currencies, Fang Xinghai, vice chairman of the securities regulator, said on Thursday.

Fang also said the China Securities Regulatory Commission (CSRC) was working toward a mechanism to help increase the inclusion factor for Chinese shares in MSCI indexes to 15 percent from 5 percent as soon as possible.

Fang, speaking at a financial forum in Shanghai, did not give further details.

Reporting by Samuel Shen and Andrew Galbraith; Writing by John Ruwitch; Editing by Kim Coghill

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