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.
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