China making progress on FX reforms says Zhou

China's foreign exchange reforms have made "significant progress," though the impact will be seen over time, People's Bank of China governor Zhou Xiaochuan told fellow financial leaders on Tuesday 19 September.

"Significant progress has been made to improve the exchange regime to allow greater flexibility," Zhou said of China's controls on its currency, the yuan, which Beijing says are needed to protect its developing economy. "The impact of these policies will be felt over time."


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