China will not again adjust the yuan exchange rate as it did in July, and will instead let market forces play a main role in setting its value, deputy central bank chief Xiang Junbo was quoted Thursday.

Chinese officials have repeatedly rejected market speculation of another one-off currency adjustment even though many economists believe July's 2.1 per cent revaluation was too modest. The united states has also continued calling for a stronger yuan.

“In the future, the renminbi (yuan) exchange rate will be mainly decided by market supply and demand and there won't be another one-off official adjustment,” Xiang said in a recent.

China has let the yuan rise by just 0.3 per cent against the dollar since it revalued the currency by 2.1 per cent in July, even though in theory the yuan can now rise or fall against the dollar up to 0.3 per cent each day.

China would widen the yuan's trading band at an appropriate time, Xiang said, without saying whether he was referring to the closely watched yuan/dollar trading band.

“The People's Bank of China will adjust the renminbi's floating band when the time is appropriate, based on its consideration of the markets as well as the economic and financial situation,” he said.

In September the central bank said the yuan's trading band against the dollar was appropriate, soon after it widened the yuan's daily trading band against non-dollar currencies to 3.0 per cent from 1.5 per cent.