PBOC chief Zhou pledges on convertible yuan

China reaffirmed its commitment to allowing free movement of the yuan on the capital account, with PBOC chief Zhou Xiaochuan promising further steps this year.

``The currency should be gradually moved toward full convertibility,'' central bank chief Zhou Xiaochuan said in a speech in Beijing. ``This year there will be further steps in this aspect, but generally speaking the progress will be steady.''

``It is a little fast, but it does not mean that the growth is irrational,'' Zhou said when a

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