The PBOC allows the yuan to fluctuate within a +/- 2% range, around this reference rate. More here on this.Earlier:China unveils nine-department plan to boost county-level consumptionPBOC seen shifting to overnight reverse repos as core liquidity toolPBOC injected CNY 469.7bn via overnight reverse reposzero 7-day reverse repo net withdrawal of 95.8 billion yuan today This article was written by Eamonn Sheridan at investinglive.com.