Chinese market rout nearing an end

China’s stock-market rout that erased $5 trillion (€4.48tn) in value is close to ending, according to the nation’s central bank governor.

With the yuan’s exchange rate versus the dollar close to stabilising and a stock-market correction almost done, China’s financial markets are expected to be more stable, governor Zhou Xiaochuan said.

His comments were made in a statement on the bank’s website after a meeting by finance ministers and central bankers from the Group of 20 nations in Ankara.