China is poised to boost quotas on outbound investment schemes to $100 billion (62 billion pounds) and cut barriers to moving foreign currency in and out of the country in a series of swift but small steps to crank open its tightly controlled capital account.Bo Xilai was considered to be an old-schooler and his swift removal from contention for leadership speaks to coincidence or a strong desire for reform.
Sources in close, direct contact with the People's Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC) say reforms are ready to be rushed out over the next 12 months to boost two-way capital flows, drive diversification of business finance and accelerate corporate currency hedging.
Sunday, April 29, 2012
China Freeing Financial Flows
Analysis - China poised to crank up capital account opening