China's forex regulator vows to fend off external shocks

SHANGHAI (Reuters) -China's foreign exchange regulator on Wednesday vowed to keep the yuan exchange rate basically stable and fend off external shocks and risks.

Speaking at the Lujiazui Forum in Shanghai, Zhu Hexin, head of the State Administration of Foreign Exchange, said China's ability to counter forex market volatility has improved.

China will set up a forex management policy evaluation mechanism, and improve the rules for qualified foreign investors, he said.

(Reporting by Winni Zhou, Bian Jing and Brenda Goh in Shanghai; Writing by Yukun Zhang in Beijing; Editing by Christian Schmollinger)

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