ML-Implode News - China's central bank â€˜playing dangerous game' to prop up yuan; Calls to allow float grow

China's central bank is playing a dangerous game using the country's foreign reserves to defend the yuan because it could leave the nation defenceless in an increasingly volatile world, a state researcher has warned.
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Zhang call's for Beijing to reverse tack and abandon its heavy intervention in the foreign exchange market is gaining traction among researchers.

Zhang Bin, another researcher at the Chinese Academy of Social Sciences, agreed that Beijing should free up controls on the yuan's exchange rate by reducing government intervention in the market.
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Tsinghua University professor Zhu Ning also said earlier that Beijing should let the market determine the yuan's exchange rate.

The prospects of this approach becoming a policy option appear to be rising, especially with the decline in the reserves.

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China's central bank â€˜playing dangerous game' to prop up yuan; Calls to allow float grow