PBOC Urges Banks to Avoid 'Herd Behavior' on Yuan

The transcript discusses a recent meeting between the People's Bank of China (PBOC) and 14 major banks in Beijing. The PBOC urged these banks to avoid herd behavior in the market, particularly as the yuan is at weak levels. The discussion also touches on the current status of the yuan, which has shown some strengthening, and the ongoing trade war between the US and China, which continues to exert downward pressure on the yuan. The economic impact of the trade war is also highlighted, with expectations of further slowing in the economy.

How might the trade war impact the Chinese economy and the yuan?

What are the expectations regarding the yuan's stability in light of recent developments?