More PBOC Gov: Will resolutely guard against overshooting risks of yuan exchange rate

<p>More from People's Bank of China Governor Pan Gongsheng:</p><ul><li>
Will resolutely guard against overshooting risks of yuan exchange
rate
</li><li>Will resolutely deal
with behaviors that disrupt market order</li><li>Will prevent the
formation of one-sided and self-reinforced market expectations</li></ul><p>

And:</p><ul><li>
Spillover effect of property market adjustments on the financial
system are generally manageable</li><li>Will guide financial
institutions to keep stable financing channels open through property
credit, bonds0</li><li>Some provinces are
making plans to resolve risks of small and mid-sized banks</li><li>Supports lgfvs to
become market-oriented firms which do not rely on govt credit, and
are financially independent and sustainable</li><li>The central bank
will provide emerging liquidity support to areas with relatively high
debt burdens when necessary</li><li>Will strictly
control new govt-invested projects in areas with high debt burdens</li><li>Will guide financial
institutions to resolve debt risks through debt extension and
replacementmore to come</li></ul><p>Earlier remarks:</p><ul><li><a href="https://www.forexlive.com/centralbank/pboc-gov-says-will-keep-monetary-policy-prudent-support-stable-growth-for-real-economy-20231108/" target="_blank" rel="follow" data-article-link="true">PBOC Gov says will keep monetary policy prudent, support stable growth for real economy</a></li></ul><p>CNH rising:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.