China will keep the yuan basically stable while alerting exporters to potential risks to minimize their losses, a powerful central planning agency said in a statement reported April 7, Reuters reports. The National Development and Reform Commission did not elaborate on what such risks might entail, but the wording hinted at China’s readiness to resume appreciation after locking the yuan in place since mid-2008 to cushion exporters from the global economic downturn. In another sign that Beijing might be nearing a consensus about appreciation, the central bank set the yuan’s daily mid-point, its key reference rate, at 6.8259 to the dollar, the highest since May last year, though still well within the tight range of the past 20 months.
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