China’s currency, Yuan, is the only currency that is stable against the dollar that as compared to other non-dollar currencies and is the key to the global financial and economic stability.

While making his remark, the China’s Central Bank Governor, Pan Gongsheng, in a conference in Saudi Arabia, added that Beijing will continue to let the market play a decisive role in deciding the exchange rate.

Recently, a number of factors have pushed up (the) dollar index, and non-dollar currencies have mostly depreciated. But RMB (yuan) has remained largely stable despite the high market volatility,” Pan said at AIUIa Conference for Emerging Market Economies.

He also noted that China was increasingly prioritizing consumption, implementing pro-consumption policies such as increasing household income and providing subsidies.

China has emphasized that boosting consumption is a top economic priority in 2025, moving away from an over-reliance on investment to stimulate domestic demand and address potential export challenges.

Pan also said in his speech that China will adopt a proactive fiscal policy and an accommodative monetary policy, and strengthen counter-cyclical policy adjustments.