More convertible yuan next goal, China's central bank chief says

The People's Bank of China's next step in the overhaul of the exchange-rate system would focus on convertibility, governor Zhou Xiaochuan said yesterday, as his omission from a top Communist Party committee fuelled speculation he may retire.

"For the central bank, the next movement related to the yuan is going to be reform of convertibility," Zhou told the annual meeting of International Financial Forum, an advisory group, in Beijing. "We are going to realise it, we are moving in this direction, we need to go further, we will have some deregulation."

via Business feed http://www.scmp.com/news/china/article/1085042/more-convertible-yuan-next-goal-chinas-central-bank-chief-says