Chinese exporters see respite as Beijing curbs yuan rise amid looming record surplus

Chinese exporters have received some relief as the People's Bank of China has taken steps to curb the yuan's rise. This move is aimed at partly easing the appreciation momentum driven by China's enormous trade surplus, which reached a record US$938.1 billion in the January-September period. The intervention is expected to benefit the broader export sector, as a stronger yuan can make Chinese goods less competitive in the global market.

Why it matters

The People's Bank of China has intervened to raise the foreign exchange reserve requirement ratio, which will help Chinese exporters. This move is expected to slow down the yuan's rally, making exports more competitive.

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