The yuan will be experimentally released
Information source of "Xinhua" published news that China will make experiment with free convertibility of national currency in an economic zone in the territory of Shanghai. Such words sounded from representatives of the Chinese government.
Beijing will resolve free convertibility only for capital accounts that means international trade in currency. The state plans liberalization of discount rate and trade permission with the international corporations in yuans. Domestic bank structures will be given opportunity of an exit to the international currency market, meanwhile, as some foreign bank organizations will acquire the right to formation of own representations on open spaces of a bonded economic area. At present there are no data on terms of implementation of the specified intentions.
The most important data of financial character are presented on sites of news channels. In addition, in the Network there are web resources which provide other data of economic character, for example, that such a vending, and in what spheres it is favorable to use it.
Statements concerning development of certain measures for the purpose of weakening of monitoring of national monetary units sounded from representatives of the People’s Republic of China at the end of spring of this year. Two months ago the employee of National Bank of China published article in the official printing publication of Communist party "Zhenmin Zhibao" in which increase of volatility of a yuan exchange rate was offered.
In Bank of international payments said that the national currency of the People’s Republic of China is on the ninth place in a rating of the most convertible world currencies. In the middle of the spring of this year, every days the volume of operations with currency of China made about 120 billion American dollars. It is possible to bring data of three-year prescription when in days yuan bought into comparison and sold on 34 billion dollars. The Chinese government tries to reach trade liberalization by domestic currency for four years.
Underestimated, proceeding from assumptions of the western states, the yuan exchange rate categorically did not satisfy the main trading partners of China.