China's monetary policy is likely to remain accommodative — and further easing might ensue if economic recovery fails to maintain the momentum gained from the solid first-quarter performance, according to officials and experts.
China may continue to reduce the share of U.S. debt in its overall foreign exchange reserves amid its ramped-up efforts to diversify foreign asset portfolios, experts said on 20th of March.
Chinese Finance Minister Lan Fo'an said that fiscal policy will strengthen its coordination with monetary, employment and industrial policies to strengthen the combined policy impact.
On Thursday, the onshore yuan jumped by 386 basis points against the U.S. dollar to 7.1811 as of 16:30, after it shed 872 basis points against the greenback in a three-day weakening streak.
On the global financial market, the U.S. dollar index rises and the price of global financial assets declines under the influence of monetary policy expectations and the macroeconomic data of major countries.