Renminbi convertibility remains top of Chinese reform agenda – HSBC

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The internationalisation of the renminbi will remain a key focus of the Chinese authorities this year, with an operational plan for full convertibility expected by the end of 2013, according to HSBC.

At a briefing held in Hong Kong, HSBC Hong Kong chief executive Anita Fung emphasised the importance of – as well as the challenges around – further liberalisation of the Chinese currency ahead of it achieving full convertibility by 2015.

The market can expect to see "slower growth but faster reform

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