Conditions favorable for liberalized capital account-China's Yi
WASHINGTON, April 18
WASHINGTON, April 18 (Reuters) - China's strong economic and fiscal situation and improved banking sector have created the conditions for the country to liberalize its capital account, a senior central bank official said on Thursday.
People's Bank of China deputy governor Yi Gang said China wanted to put in place anti-money laundering and counter-terrorist finance provisions as well as macro-prudential measures for extreme circumstances.
"If we have that, I think China is ready to make the capital account by and large convertible," Yi told a panel at the International Monetary Fund. He did not give a timetable for the liberalization of China's capital account.
- Obama makes rare campaign trail appearance, people leave early
- Two arrested in death of Saudi student in California: report
- Turkey to let Iraqi Kurds reinforce Kobani as U.S. drops arms to defenders
- After clashes, Hong Kong students, government stand their ground before talks |
- Solid data, earnings push world stocks higher