A top economist at the state-run China Construction Bank told US officials that the yuan could appreciate by five percent against the dollar next year, according to leaked diplomatic cables, according to AFP.
The bank's chief economist Hwa Erh-cheng also predicted a three percent rise in the value of the yuan against the dollar this year. So far the yuan has risen 3.05 percent.
More tightening measures from the CB of China as of a few hours ago:
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