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The People’s Bank of China will cut the foreign‑exchange risk reserve on forward sales to 0% from 20% starting 2 March 2026, a measure intended to lower hedging costs for firms, release bank liquidity, and shift toward more market-driven exchange‑rate management. The move comes as the renminbi has strengthened sharply and signals Beijing’s preference for normalised, market-based tools while retaining broader stability mandates.
