Chinese central bank said Monday that Beijing is committed to exchange rate reforms as the yuan endures continuing volatility.

Fan Gang, a member of the central bank’s monetary policy committee, told the Securities Times that China should not take a backward step toward fixing the exchange rate or peg to the dollar.

Fan says that is because China has already taken a step forward in its effort. He advises individuals and companies to re-think the way they manage their foreign exchange affairs to handle more volatility.