|
|
Article: China Exclusive: China to trial foreign exchange reforms
- Article from:
- Xinhua News Agency
- Article date:
- September 22, 2006
CopyrightCopyright 2006 Xinhua News Agency. Provided by ProQuest LLC. (Hide copyright information)
|
China Exclusive: China to trial foreign exchange reforms
BEIJING, Sept. 22 (Xinhua) -- China's State Administration of
Foreign Exchange (SAFE) has approved the trial of foreign exchange
reforms in the Binhai New Area, a test field of business development
in the northern financial hub of Tianjin.
"We will loosen controls over foreign exchange under capital
account, and explore a way to realize Renminbi capital account
convertibility in certain area and with certain amount,"said Dai
Xianglong, mayor of Tianjin and former president of the People's Bank
of China, or the central bank.
He added that the government will improve the management foreign