PBOC governor Pan says will use various policy tools to keep liquidity reasonably ample

<ul><li>Will keep yuan exchange rate basically stable</li><li>Will steadily promote yuan internationalisation</li><li>Financial risks are generally under control</li><li>Monetary policy is mainly based on domestic conditions</li><li>There is still sufficient room for monetary policy</li><li>China's economy faces some difficulties, but there are also positive factors</li></ul><p>These are all token remarks but Chinese markets have rebounded strongly going into the speeches by key officials today, following a more tepid showing just hours ago. The talk of a rescue package from yesterday is still keeping investors on edge I would say, even with the "coincidental" bounce today. I mean, we all know who's behind that, don't we?</p>

This article was written by Justin Low at www.forexlive.com.