Economists see no basis for yuan's continued depreciation

BEIJING - No basis exists for continued depreciation of the renminbi, or the yuan, and in 2016 as China is capable of keeping the currency "basically stable" to a basket of currencies, economists said. The yuan weakened notably by 1.5 percent against the US dollar this past week, the largest weekly decline since August. The short-term volatility of the yuan is partly due to rising anxiety over the weakening of the currency, triggering capital flight, said Liu Ligang, chief economist for ANZ greater China region....