Yuan Should Be Given More Room to Move, Former Policy Adviser Li Yang Says

(Bloomberg) -- China should give the yuan greater
room to move against the U.S. dollar and other major currencies
to help the government's foreign currency manager operate, said
Li Yang, a former policy adviser to the Chinese central bank.

``If we're unprepared in our thinking to make this change,
then our reforms to China's foreign exchange mechanism will be
slowed down,'' Li said today at a conference in Beijing. Li, head
of the Chinese Academy of Social Sciences' Institute of Finance
and Banking, is a former monetary policy adviser to the People's
Bank of China.


Read more at Bloomberg Currencies News