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China's forex market is easily influenced by irrational expectations and spurred by inertia, due to a certain level of "pro-cyclicality," which distorts market demand and supply, and magnifies the risk of exchange rate overcorrection, the CFETS said in a statement.
China's deepening reform and opening-up agenda, aiming to vitalize market entities, will help the nation cope with challenges in economic globalization created by the COVID-19 pandemic, according to Chi Fulin, president of the China Institute for Reform and Development.
China's economy has maintained overall stability. The country's GDP expanded 6.2 percent year-on-year in the first three quarters of this year, data from the National Bureau of Statistics showed.
China's consumer price index, a main gauge of inflation, rose 1.9 percent year-on-year in June, compared with 1.8 percent in May, data from the National Bureau of Statistics showed Tuesday.
China's economy has rebounded steadily from the novel coronavirus shocks, with a pickup in industrial output, services, and some consumption.
来源：资阳报