The former governor of China’s central bank, Zhou Xiaochuan, says it is time for Beijing to relax capital account controls to facilitate international use of yuan. Photo: Shutterstock
The former governor of China’s central bank, Zhou Xiaochuan, says it is time for Beijing to relax capital account controls to facilitate international use of yuan. Photo: Shutterstock

China’s Mr Renminbi says Beijing must dismantle capital controls to create a more globally accessible yuan

  • Strict foreign exchange controls not conducive to internationalising the yuan, according to former central bank governor Zhou Xiaochuan
  • However, Zhou’s ‘reformist’ take on the yuan runs contrary to some influential voices within China saying Beijing should not rush to open up capital account

The former governor of China’s central bank, Zhou Xiaochuan, says it is time for Beijing to relax capital account controls to facilitate international use of yuan. Photo: Shutterstock
The former governor of China’s central bank, Zhou Xiaochuan, says it is time for Beijing to relax capital account controls to facilitate international use of yuan. Photo: Shutterstock
READ FULL ARTICLE