Tax and Finance
Continued reforms by The People’s Bank of China (PBOC) are set to further accelerate the use of Renminbi (RMB) in international trade and investment and reinforce the move towards full convertibility of the currency. Reforms such as the widening of the RMB daily trading band, recent capital account deregulation and the expansion of the Qualified Institutional Investor Scheme are all signs of a change in focus away from appreciation to flexibility.
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May 15, 2012