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Central bank vice-governor voices confidence amid currency volatility
The monetary authority vowed to stabilize the renminbi amid escala
ted trade tensions, while continuing to push forward financial opening-up and pr
otecting overseas investors’ legal rights, said a senior official from the central bank on Sunday.
“We have the foundation, confidence and capacity to maintain a stable foreign exchange ma
rket in China, and keep the renminbi exchange rate at a reasonably stable equilibrium,” said Pan Gongsheng, vi
ce-governor of the People’s Bank of China, the central bank, said in a statement on its website.
Before his pledge, the onshore renminbi rate depreciated to 6.9182 per do
llar at Friday’s close, the weakest level since December, and the offshore renminbi rate h
with five suburban districts of Tongzhou, Yanqing, Changping, Huairou and Shunyi upgrading it to yello
w alert later. These areas were hit with strong winds as high as 8-9 grades, with gales reaching 10 grade
at some places. According to forecast, the wind could still be as high as 7-8 grades on Monday.
The gale toppled a wall near Dongzhimen Bridge in downtown Beijing, hitting three pedestrians,
two males and one female. Two of them died at the scene and one at hospital, Dongcheng District said via Sina Weibo.
Food delivery service Meituan said one of its deliverymen was hit and killed by a fallen tree when delivering food.
The speed of wind reached 10-15 meters per second at the Capital International Airport starting from 10 a
m Sunday, with gales as fast as 20-25 meters per second, the airport said. Due to the strong wind, th
e operational ability of the airport dropped and remained low until 7 pm Sunday.
September, 53 people in the company were transferred for examination and prosecution.u’an, a county in
China’s Hebei province, 50 kilometers away from Beijing’s Tiananmen Square, is looking to build an innovation-driven coun
Emerging fields including online lending, investment, pension services, consumer reb
ates, financial mutual aid and virtual currencies have become “disaster areas” for economic crimes, said Gao.
Since the collapse of P2P online lending platforms beginning last Jun
e, public security authorities have investigated and handled more than 400 illegal fun
draising platforms and arrested more than 60 fugitives from 16 countries and regions.
“To grab excessive profits, the criminals keep changing and upgrading their criminal
methods, which are usually strongly deceptive,” he said. “Investors should be very cautious.”