China plans for Yuan convertibility
- Published: 7 May 2013 at 10.09
- Online news:
China will propose a plan this year to allow yuan capital-account convertibility as part of measures to loosen controls on its currency and interest rates, the nation's Cabinet said.
The yuan plan will also include creating a mechanism that allows investments overseas by individuals, the State Council said in a statement on Monday after a meeting led by Premier Li Keqiang on the focus of economic reforms in 2013.
Other measures include improving controls on risks from local government debt, expanding trials of value-added taxes on companies and pushing forward changes to the country's household-registration system.
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