China to curb yuan speculation

China is studying plans to curb currency speculation even as it seeks to quicken the process of making the yuan trade freely, a deputy central bank governor said.

Beijing will further open up its capital markets and develop its foreign exchange market as it aims to "accelerate the renminbi convertibility on the capital account," Yi Gang wrote in an article published in China Finance magazine, a central bank publication. The yuan is also known as renminbi.