Move to convertible yuan 'gradually, prudently'

China will gradually and prudently move to make its currency, the yuan, convertible, PBOC governor Zhou Xiaochuan said.

"We will do these kinds of things gradually and prudently," he told a securities market conference, in reference to plans to make the yuan fully convertible.

"With (capital account) convertibility, the Chinese market may have more access to the world economy, the world market," Zhou said.

He said the China's opening up had seen, for example, the introduction of qualified foreig