China Banking and Insurance Regulator Head Guo: Impact of additional US tariffs on Chinese economy to be very limited

China’s ruling Communist Party paper, People’s Daily, reports the latest comments by the Chinese Banking and Insurance Regulator Head Guo Shuqing on the US-China trade spat.

Key Headlines:

Impact of additional US tariffs on the Chinese economy will be very limited.

Fluctuations in the yuan exchange rate were normal in the short term.

Over a longer horizon, the currency would not continue to lose value given China's economic fundamentals.