China to promote currency reform – China Daily

From China Daily via China Economic Net (link)

China’s central bank has asserted anew its commitment to push for a more flexible yuan as it seeks to remedy shortcomings in its financial markets.

In its 2005 report taking stock of the country’s financial reforms, the People’s Bank of China said liberalization of its exchange rate regime would continue to be a key policy focus.

“We will push forward reform of the foreign exchange management system and perfect the formation mechanism of the yuan’s foreign exchange rate,” the central bank said.


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