Exclusive: China plans greater yuan convertibility inside and outside FTZs

April 24, 2015 10:52 AM

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Exclusive: China plans greater yuan convertibility inside and outside FTZs

BEIJING (Reuters) - China plans to take a giant step toward making the yuan more convertible by extending a pilot scheme allowing the currency to be traded with few restrictions to all its free trade zones, before taking the scheme nationwide later this year.

The liberalization, revealed to Reuters on Friday by three sources with knowledge of the plan, underlines China's ambition to transform the yuan CNY=CFXS into a major global currency.

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