China’s central bank has pledged to increase efforts to stabilize the national currency following a drop toward its lowest level in 15 years, amid worries over the robustness of the Chinese economic rebound. The bank announced it would use “comprehensive measures and stabilize expectations” about the currency and would also “resolutely prevent risks of big fluctuations.” However, evidence of economic weakness persists, with manufacturing activity contracting again in June, and the yuan dropping to a seven-month low against the dollar. Additionally, new home sales from China’s top 100 real estate developers fell 28% YoY, pointing to continuing instability in the country’s vast property market.