China moves closer to renminbi inclusion in SDR


Chinese officials have hinted that the renminbi may be fully convertible on the capital account by 2015, paving the way for the Chinese currency to be included in the Special Drawing Rights (SDR).

On Thursday, newswire Bloomberg reported Davide Cucino, president of the EU Chamber of Commerce in China, as saying Chinese officials had told European Union business executives that the renminbi would achieve "full convertibility" by 2015. Similarly, Li Daokui, an adviser to the People's Bank of China

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