China’s central bank genuinely believes that the yuan is holding the world’s financial system together. On Sunday, People’s Bank of China (PBOC) Governor Pan Gongsheng told global leaders at the AlUla Conference for Emerging Market Economies in Saudi Arabia that while other currencies are crumbling against the rising U.

The People’s Bank of China said it will adjust the pace and intensity of its policymaking based on economic and financial conditions at home and abroad.

China’s central bank governor said a steady yuan has contributed to the stability of global financial markets and economies around the world, drawing a contrast with a dollar that’s surged as part of fallout from Donald Trump’s tariffs.

Chinas central bank governor, Pan Gongsheng, emphasized the importance of a stable yuan for global financial stability, reaffirming Beijings commitment to allowing market forces to determine the exchange rate.