# China wants to reduce control of changes in yuan's exchange rate - Chinadaily.com.cn

> A leading Chinese think tank report recommends reducing government control over yuan exchange-rate moves and letting the market play a larger role. It proposes intervening only when the currency moves sharply beyond a benchmark.

- Date: 2017-09-24 · published 2017-09-24T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/69191-china-wants-to-reduce-control-of-changes-in-yuan-s-exchange-rate-chinadaily-com
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

A more market-driven yuan would likely increase currency volatility, which affects the cost of dollar-priced grain and feed imports for Chinese buyers.

## Read by commodity

- USDCNY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2022-01-22 | [Yuan exchange rate seen staying stable - Chinadaily.com.cn](https://feedsoft.ai/events/43359-yuan-exchange-rate-seen-staying-stable-chinadaily-com-cn.md) | +0.3% | -0.2% |
| USDCNY | 2021-06-18 | [Central bank targets exchange rate stability - Chinadaily.com.cn](https://feedsoft.ai/events/7118-central-bank-targets-exchange-rate-stability-chinadaily-com-cn.md) | +0.3% | +0.5% |
| USDCNY | 2019-03-10 | [China won't use exchange rate for competition: Official \| The Straits Times](https://feedsoft.ai/events/60335-china-won-t-use-exchange-rate-for-competition-official-the-straits-times.md) | -0.1% | -0.0% |
| USDCNY | 2023-01-13 | [China’s yuan: central bank to boost flexibility of exchange rate to handle ‘shocks’ from overseas monetary policy \| South China Morning Post](https://feedsoft.ai/events/37987-china-s-yuan-central-bank-to-boost-flexibility-of-exchange-rate-to-handle.md) | +0.7% | +1.1% |
| USDCNY | 2019-10-20 | [China’s yuan exchange rate ‘appropriate’ after recent weakening, central bank chief says \| South China Morning Post](https://feedsoft.ai/events/56815-china-s-yuan-exchange-rate-appropriate-after-recent-weakening-central-bank.md) | -0.2% | -0.8% |

## Sources

- global.chinadaily.com.cn: https://global.chinadaily.com.cn/a/201709/24/WS5a0bd7efa31061a738404717.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.