China central bank eyes more flexible yuan

China will press ahead with currency reforms to allow more flexibility in the yuan’s exchange rate while retaining a steady value that is near an equilibrium, a senior central bank official said on Wednesday.

The comments from Yi Gang, who reiterated the central bank’s assertion that it has cut intervention in the foreign exchange market, emphasise the stability that Chinese policymakers want to ensure even as they try turn the yuan into a more freely-traded currency.

via Business feed http://www.scmp.com/business/economy/article/1182736/china-central-bank-eyes-more-flexible-yuan