date:Aug 02, 2013
ng approvals are required in order to bring significant sums into or out of the country. Chinese companies are currently paid in dollars, which are then converted by central authorities on entry to the country. China has been wary of currency liberalization, fearing an outflow of funds by Chinese businesses seeking better opportunities overseas.
However Chinas government has stated its aim to make the RMB a more dominant global currency requiring it to fully open its capital account it will i