PBoC’s Yi dampens market excitement on liberalisation

China rolled out series of liberalisation measures in recent months, but further action will only be gradual, says central bank governor

Yi Gang: “In China, this process is gradual and steadily moving forward”

People’s Bank of China (PBoC) governor Yi Gang has sought to cool market excitement on financial liberalisation, saying all changes will be “gradual”.

The process of reform and opening up will sometimes be “faster or slower”, Yi told a financial industry conference in Beijing on May 29. “In China, this process is gradual and steadily moving forward.”

After freezing reform efforts to rein in financial risk and stabilise the market over the past two years, China’s authorities seem to have

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