Yuan exchange rates subject to volatility: OCBC

The yuan's exchange rates with other currencies are not a given target, and are the results of volatility.

Zhang Fangtian, general manager of the capital business department of OCBC Bank China, said in an interview on Tuesday that the yuan's exchange rates are only leading indicators of China's economic performance, and the yuan has positioned itself as a strong currency to facilitate its internationalization.

Zhang also said China is experiencing a mild recovery as decision makers seek a steady growth strategy.

"Increasing durable goods orders in the first months of 2013 indicate that investors in China have an eye on long-term growth," Zhang said.

In the eurozone, the unemployment rate remains an issue in many countries, Zhang said.

In the United States, the situation is moderately better in 2013, and the market might see less quantitative easing when unemployment drops, Zhang said.