Ex-PBoC advisor calls for more yuan flexibility

Yu Yongding, a former People's Bank of China adviser, said in a speech to investors at a Credit Suisse investment conference on Wednesday 25 October that China should introduce more flexibility in the yuan exchange rate to help reduce imbalances in the economy.

Yu, a member of the central bank's monetary policy committee until August, also recommended that the capital account be liberalized further.

The twin current and capital account surpluses are the major sources of China's excess liquidit

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