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
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 economy

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

Topic |   China economy
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
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
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