CAIXIN
By Fran Wang
(Beijing) — China’s central bank has pledged to open the country’s financial markets further to foreign investors this year as part of government efforts to strengthen the yuan’s international role and encourage capital inflows.
Authorities will deepen reform of the exchange rate regime and “steadily push forward the convertibility of the yuan under the capital account” this year, the People’s Bank of China (PBOC) said in a statement on its website Monday after a meeting last week about cross-border yuan business.