Execs welcome prospect of full RMB convertibility
They see it as a natural progression, although timing remains uncertain, after China's central bank moves to curb speculation by proposing the next step to full convertibility.
Investment industry executives in Asia have welcomed proposals by China's central bank to make the next step to full renminbi convertibility for capital accounts.
This latest move to internationalise the Chinese currency and open the mainland's capital markets to foreign investment was unveiled by the People’s Bank of China after a meeting led by premier Li Keqiang on May 6.
The proposal will include a mechanism to allow individuals to invest overseas, while the trading band is …
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