Yi Sees ‘Bold’ Yuan Reform With Gradual Rate Liberalization

China is pushing forward on exchange-rate reforms in a “bold” fashion, while adopting a more gradual approach toward loosening controls over interest rates and capital markets, according to People’s Bank of China Deputy Governor Yi Gang.

While China should advance reforms on all three fronts, it is proceeding at different speeds to maintain financial stability, Yi said at a panel hosted by Johns Hopkins University’s School of Advanced International Studies in Washington.