Bloomberg News

China Needs Patience on Yuan Globalization, PBOC Adviser Says

October 24, 2011

Oct. 24 (Bloomberg) -- China should be more patient and cautious with the yuan’s internationalization, central bank adviser Li Daokui said at a conference broadcast by website Sina.com.

The yuan can “naturally” become a global currency as long as China addresses its own issues, Li said, according to the transcript.

China’s inflation may be 5.5 percent this year and 4.8 percent next year, Li said, according to the report.

To contact the editor responsible for this story: Nerys Avery at navery2@bloomberg.net


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