From Reuters (link)
China will take gradual steps to make the yuan fully convertible while guarding against the inflow of speculative capital, the foreign exchange regulator said on Wednesday.
China would make the yuan convertible eventually, but it would tread cautiously in the process, the State Administration of Foreign Exchange (SAFE) said in a statement posted on its Web site, (www.safe.gov.cn), reaffirming its policy.
“We must be clear-headed in the process of steadily pushing forward the yuan’s capital-account convertibility, refrain from being rigid and conservative, but prevent any blind and rash moves,” Li Dongrong, vice head of SAFE, was quoted as saying.
