China will take steps if FX market fluctuations become too big

China’s official app for digital yuan is seen on a mobile phone placed in front of an image of the Chinese flag. The People’s Bank of China is pulling out all the stops to promote the e-currency to a population far more used to transacting on a daily basis using WeChat Pay and Alipay. — Reuters

SHANGHAI/BEIJING: China will roll out counter-cyclical measures at an appropriate time if policy tightening by major world economies leads to currency market fluctuations becoming too large, the country's foreign exchange regulator said on Friday.

Wang Chunying, spokesperson for the State Administration of Foreign Exchange (SAFE), said "if the foreign exchange market faces relatively big fluctuations, (regulators) will roll out counter-cyclical adjustments at an appropriate time."