BEIJING: China will gradually open its capital account this year, another step in its plan to make the yuan currency fully convertible, state television said yesterday, quoting the country's foreign exchange chief.
China, facing criticism from the West that a cheap yuan gives its factories an unfair competitive edge, has held its ground against demands it revalue but has promised to progressively free up trading in the currency.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!