China will increase flexibility of yuan exchange rate - regulator

BEIJING, Jan 17 (Reuters) - China will increase the flexibility of yuan exchange rate, the head of China's foreign exchange regulator said on Thursday.

China will promote two-way opening of its financial market and the opening of the country's capital account in an orderly way, Pan Gongsheng said in an article posted on the WeChat account of a central bank publication.

Beijing will also push forward the launch of Shanghai-London Stock Connect scheme and improve the Bond Connect one, Pan added.

No details of new steps to increase the exchange rate's flexibility were given. Chinese officials periodically state that more steps will be taken to open the country's markets.

Original plans called for the Shanghai-London Stock Connect to be launched by the end of 2018, but it was delayed. (Reporting by Beijing Monitoring Desk)

2019-01-17 11:12:27

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