CHINA ROAD-MAPS INTEREST RATE AND EXCHANGE RATE REFORMS

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March 19, 2013

BEIJING - Local news media is reporting that PBoC Deputy Governor Liu Shiyu has outlined a roadmap of financial reforms for the next 10 years. Highlights include: i) interest rate and exchange rate liberalisation to be completed within 10 years (in the absence of external shocks), including enhancement of RMB convertibility and capital account opening; ii) further opening of the banking sector to domestic and foreign investors; and iii) development of the capital market. www.bbva.com (ATI).