China will introduce additional schemes for yuan conversion

Almaty. February11. Silkroadnews - China will introduce additional schemes for the yuan conversion, said information portal Chinanews.
“According to China’s state foreign exchange control, in 2016 China will create additional schemes offering free international exchange of the yuan within the free trade zones,” - the publication informed on Thursday.
These steps, as noted, are introduced to open the capital market “within certain limits”.
The newspaper reminds, on December 11, 2015, the Central Bank of China authorized the free international exchange of the yuan while limiting the amount to $10 million in free economic zones of Tianjin, Guangdong and Fujian.
“China allowed the yuan exchange for trading settlements about 20 years ago, however, almost all transactions, in different degrees, remained under control. Now control will be weakened. According to IMF classification, 37 of 40 capital accounts in China are already fully or partially convertible and only 3 are non-convertible still,” - the report says.