PBOC's Yi says China needs 'determination' on yuan

A senior People's Bank of China official has called for 'determination' on the part of the country to achieve its objective of making the yuan fully convertible.

"We must have the determination to make the yuan a convertible currency," Yi Gang, an assistant central bank governor, was quoted by the official China Securities Journal as saying.

Yi also said the process of creating a freer exchange rate mechanism needs to be stepped up because "it is still possible for yuan to (find itself) in a we