Yuan reform feasible says PBOC adviser

Making the exchange rate of the Chinese currency more flexible was feasible, although it would result in many problems, a top central bank adviser was quoted as saying on Tuesday 19 October.

"The basic stability of the renminbi does not in fact mean that exchange rate decisions and the exchange rate formation mechanism are immutable," the Beijing Morning Post quoted Yu Yongding, a member of the central bank's monetary policy committee, as saying.

"Although all kinds of difficulties would follo