Coronavirus epidemic impact will be temporary, limited: China's forex regulator

China's forex regulator said on Feb 21 that the impact of the novel coronavirus outbreak will be temporary and limited, and the forex market has the foundation and condition to maintain stable operations.

Citing China's strong economic resilience and ample room for policy maneuver, Wang Chunying, a spokesperson of the State Administration of Foreign Exchange, said the country's economic fundamentals for long-term sound growth and high-quality development remain unchanged, which will ensure stable forex market operations.

The forex market has remained generally stable in February, despite the epidemic impact, and the exchange rate of the yuan continued its two-way movements after a short-term adjustment, Wang said.

Wang said the country's wider opening-up, ever-improving business environment and the internationalization of its capital market will all help attract medium and long-term investment.

The epidemic has killed more than 2,200 people on the Chinese mainland, with total infections reaching 75,465 by the end of Feb 20.