PBOC boss sheds light on yuan exchange rate

Zhou says central bank policies will gradually make way for market forces

Zhou Xiaochuan, head of the People's Bank of China, shed new light on the central bank's policies on interest rate liberalization and the yuan's exchange rate in the latest Bo'ao Forum for Asia.

On Friday, Zhou pledged the PBOC will gradually exit from its present regular interference with the exchange rates to make way for market forces to determine the yuan's price.