BEIJING, Sept 17 (Reuters) - Depreciation pressure on the Chinese yuan was "basically released" following August's devaluation, an official at the foreign exchange regulator said on Thursday.

Wang Yungui, head of policy and regulation department at the State Administration of Foreign Exhange (SAFE), also reiterated that there was no basis for further depcreiation of the yuan or large-scale capital outflows from China.

The regulator has not witnessed any abnormal changes in capital flows or seen large-scale outflows, Wang told a briefing in Beijing.

(Reporting by Kevin Yao; Editing by Kim Coghill)