China is reconsidering its global strategy for yuan, says official

Hurdles for yuan's internationalisation to be removed; move to ensure steady liberalisation of capital account

China is reconsidering its strategy for the internationalisation of the yuan and planning for more policy support after completing a comprehensive review recently, according to a senior central bank official.
 

“As everybody knows in the past, the internationalization of the RMB (yuan) sticks to the market principles,” Zhu Jun, director general of the People’s Bank of China’s international division, said at the Bund Summit in Shanghai on Saturday. “The role of the authorities was mainly focused on removing the policy obstacles for the free use of the currency. At this moment, we think there are some kinds of complications in