UPDATE 1-China to expand pilot freeing capital account convertibility-sources

April 24, 2015 5:18 AM

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BEIJING, April 24 (Reuters) - China plans to let the yuan be traded with few restrictions in all of its free trade zones in coming months and later this year take nationwide the pilot scheme that is meant to make the currency more freely convertible, three sources with direct knowledge of the matter said on Friday.

The scheme, which gives companies the freedom to move the yuan and other foreign currencies in and out of China for capital account transactions, is currently being run only in the Shanghai free trade zone.

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