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Yuan liberalization runs in the fast lane as the currency becomes attractive for trade
The liberalization of the yuan, China's currency, is accelerating despite the trade war with the US, and it won't be too long for the currency to become fully convertible on the market as the world's second largest economy keeps expanding and its capital markets are incrementally opened to foreign investors. Zhou Xiaochuan, former chief of the People's Bank of China, China's central bank, said at a finance forum in Beijing on Friday that there was not a choreographed roadmap for the yuan's internationalization orignially. With the rapid growth of the economy, the attraction of the currency has grown too. Many people ... (full story)