BEIJING, Nov 15 (Reuters) - China’s leaders have shown that they are strongly committed to market-based reforms, although they face a test to deliver results, a senior U.S. Treasury official said on Friday.
“I think there is going to continue to be progress, but the question is how much and how quickly,” said the official.
“The direction is significant, but the character and the pace of change matters.”
The official added that China has made some progress in making the yuan more market-driven, but more is needed, adding that the yuan currency is likely to continue to appreciate as the government pursues market-based reforms.
China’s ruling Communist Party published a full document of its reform plans earlier on Friday.