China sets route to currency reform

China will gradually open its capital account in 2005, another step in its plan to make the yuan currency fully convertible, state television quoted the country's foreign exchange chief as saying on Saturday.

"We will gradually ease the amount of renminbi that can be exchanged under the capital account, taking another step towards achieving full convertibility of the renminbi," the television quoted Guo Shuqing, head of the State Administration of Foreign Exchange, as saying.

The Chinese govern

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