Central Bank Governor on Free Trading of RMBChina has not yet set a timetable for the free trading of its currency, Renminbi, but great progress will be made in the next five years, said Dai Xianglong, governor of the People's Bank of China, Wednesday in Beijing.Domestic enterprises are still not allowed to get foreign debts, and foreign currency is also forbidden to be used for the purchase of China's stocks, the official noted at a press conference held by the Information Office of the State Council. But "we will create conditions to gradually loosen the restrictions," the governor said. China has made Renminbi convertible under the current account as of December 1996. |
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