China’s SFTZ to step up currency and financial market liberalisation

On 29 October 2015, the Shanghai people’s government and six Chinese ministries jointly published a key policy paper on pursuing financial innovation in the Shanghai Free Trade Zone and developing Shanghai as an international financial centre. The 40-point plan outlines further steps in the convertibility of RMB with respect to capital account items, and seeks to enhance cross-border usage of RMB and the further opening up of China’s financial markets. 

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