Yuan continues sliding trend

China's central bank has said that it is capable of keeping the yuan "basically stable at a reasonable equilibrium level" in spite of "speculating forces".

The statement was released after the Chinese currency continued a sliding trend on Thursday.

The central parity rate of the yuan depreciated to its weakest point in nearly five years.

The official data shows the currency lost 5 percent to 6.56 against the U.S. dollar on Thursday, the lowest level since March 2011.

The statement says that some forces attempt to make profit from speculating on the yuan.

The central bank also points to the fundamentals of China's economy as a long-term factor that will prop up the yuan.

The offshore yuan advanced 0.4 percent in Hong Kong while the onshore rate plundged 0.6 percent in Shanghai.