China ready to slow yuan descent

Clouded future: Chinese banknotes are seen at a vendor’s cash box at a market in Beijing. The yuan outlook is clouded by the election of Donald Trump as US president. – Reuters

Central bank fears sharp yuan drops could fuel capital outflows

CHINESE policymakers have been unfazed by the yuan’s recent slide, but are ready to slow its descent for fear of fanning capital flight if the currency falls too quickly through the psychologically important 7-per-dollar level, policy advisers say.