Chinese officials sought to address concerns about the country’s currency and stock market on arriving at the World Economic Forum in Davos, Switzerland this week. Securities regulator vice-chairman Fang Xinghai acknowledged to an audience that China’s system “is not structured in a way to communicate seamlessly with the markets,” but insisted it had “no basis” for seeking a weaker currency, The Financial Times reported. Meanwhile, Bloomberg reported that China’s vice-president, Li Yuanchao, said that Beijing would boost regulation of the mainland’s troubled stock market and was willing to intervene further “to look after the interests of most of the people, most of the investors.”
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