PBOC Governor Yi Gang says will reduce restrictions on cross-border use of the yuan

Author: Eamonn Sheridan | Category: Central Banks

People's Bank of China Governor speaking on Saturday at the Bund Summit conference held in Shanghai: 

  • says will work to improve the currencies 'flexibility, "and let exchange rates play a better role as an automatic stabilizer in the macroeconomy and international balance of payments" 
  • will reduce restrictions on its use internationally, improve the infrastructure for cross-border use of the yuan
  • doing so will assist in opening China's financial services industry further 
Report comes via Reuters
China has plans to promote the yuan's use as a reserve currency. 

For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose