PBOC Adviser Xia Says Yuan Shift Comments Out of Context

China central bank adviser Xia Bin said his comment about a possible one-off revaluation of the yuan has been taken out of context and he can’t say whether the currency will quickly strengthen.

The “entire context” was missing, Xia, a Beijing-based economist said in a phone interview today. Asked whether the yuan will appreciate quickly in the short term, he said: “I don’t know. It’s not decided by me.”