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[Ferro-alloys.com] On the 11th China Ferro-alloys International Conference, Mr Wu Ge from Monetary Policy Department of the People’s Bank of China made a splendid speech on China’s exchange rate formation mechanism & influence on trading.

Mr Wu pointed out that it was true that China’s massive foreign exchange reserve had some adverse effect on economic growth. However, central government should not allow average citizens keep much foreign change at current stage. People’s Bank of China took strict control on foreign exchange holding mainly to reduce speculative behavior on foreign exchange market.

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• [Editor:Mike.zhang]