The yuan hit a near six-year high against major peers on Thursday, on investor views that authorities are likely to tolerate a rise in the currency, at least in the near-term.
Chinese financial institutions should actively provide currency hedging services for companies, but they should not help companies speculate in currencies, China's foreign exchange market self-discipline mechanism said in a statement.
"There are many factors affecting the exchange rate. The current global economic and financial situation is complex and changeable and major central banks have started adjusting their monetary policies," the self-discipline body said after a meeting.
The official goal is to keep the yuan at a reasonable and balanced level, and the degree of currency deviation will be proportional to the correction force, it said.
"Only by adhering to the concept of risk neutrality can enterprises and financial institutions and other market players better deal with external shocks," it said.
Chinese financial institutions should strengthen their own risk management, refraining from speculating in currencies or helping companies speculate in currencies, it added.
(Reporting by Kevin Yao and Beijing newsroom, Editing by Raissa Kasolowsky and Angus MacSwan)
