China needs flexible yuan, BOJ's Hirano says

China will adopt a more flexible currency as the nation overhauls its financial system and capital markets, said Eiji Hirano, a Bank of Japan executive director.

"It's important for China to have a flexible currency system because it can help absorb the impact of overhauling the economy," Hirano said in an interview in Tokyo with Bloomberg. "A flexible currency system can be an adjustment cushion."

"It may not necessarily be a question of a long time-span," said Hirano, 54, who supervises the c

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