People’s Bank of China deputy central bank governor (and head of SAFE) Yi Gang, writing in an article published in China Finance magazine

  • China will further open up its capital markets
  • Will develop its foreign exchange market
  • Aims to "accelerate the renminbi convertibility on the capital account"
  • Also studying plans to curb currency speculation, including a "Tobin tax", non-interest bearing reserve requirement and foreign exchange trading fees

More at Reuters

-

I'm gonna have to disapprove of measures such as a Tobin tax etc.

But, you know I'm biased, right?

-

China Finance magazine is a PBOC publication.

SAFE is the State Administration of Foreign Exchange