| Conditions are basically right for capital account convertibility for the yuan, the Financial News reported Thursday, citing Xie Ping, vice president of China Investment Corp., the country's sovereign-wealth fund.
China already meets the main criteria for convertibility, such as steady economic growth and sufficient foreign exchange reserves, the report cited Xie as saying at a financial seminar in Beijing. Xie suggested that China could start by liberalizing bond investment under the capital account, and then move on to more risky stock and derivatives, according to the report..............................................Full Article: Source
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