Hong Kong will let nonresidents purchase an unlimited amount of yuan, as it seeks to defend its position as the global hub for international finance.
Yuan-denominated bonds can be a valuable investment opportunity for Italian companies struggling in recession, Italian analysts said Wednesday.
The likelihood that yuan will be used more widely in settling intra-regional transactions has prompted the Asian Development Bank to include the currency in its Trade Finance Program.
Trade between China and Africa will be increasingly settled in yuan, and Chinese financial institutions should prepare for that development.
Nearly ten years after China started to relax some of its capital controls, the country is now making more aggressive steps toward that end.
Further policy easing is expected to attract more QFII to the mainland market preparing for the complete opening of the capital account.
China's currency is just around the corner from being fully convertible and the economy's capital account is already far more convertible.
Chinese regulators are promoting the opening-up of the capital markets by expanding quotas for foreign investment at a record pace.
China currently faces a strategic opportunity in opening its capital account, a central bank official has said.
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