PBOC: China to make yuan fully convertible

China will make the yuan fully convertible, People's Bank of China governor Zhou Xiaochuan said.

"China will further improve the foreign exchange rate mechanism and gradually lift outdated restrictions on foreign currencies to ultimately realize the convertibility of the yuan for the capital account," Zhou said in a speech posted on the central bank's website.

Battling soaring investment that the PBOC says threatens the fragile financial system and is fuelling inflation, the central bank is boo