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The Deputy governor of the People's Bank of China has said in an article, China will continue to reform its exchange rate mechanism. Hu Xiaolian says it's to consolidate coordinated and sustained economic growth, amid a rise in production costs.
The article was Hu's third elaboration on China's exchange rate policies in the past week. She says a flexible exchange rate will dampen upward pressure on Chinese input costs, and promote reform of domestic resource pricing.