- but job not finished
Zhou also in London
- PBOC respect’s market’s role with yuan
- will support and allow foreign firms to issue RMB bonds in domestic market
- need to build open and efficient RMB international payment system
- need to promote China’s capital account convertibility
Blige, I almost read that last line as accountability. Heaven forbid!
- capital account convertibility does not mean full liberalization
- still need to monitor cross-border transactions for money laundering and use of tax havens
- China will still control short-term speculative capital flows
- has full confidence that China will maintain stready economic growth and financial stability
