The head of the People's Bank of China is suggesting the Renminbi has reached a new level of convertibility this year.
Central Bank chief Zhou Xiaochuan has made the suggestion while addressing the China Development Forum in Beijing.
"It will be more convenient not only for enterprises but also for individuals at home and abroad to invest in the markets. The yuan has basically reached the criterion of convertibility under the capital account or as a freely usable currency."
At the same time, Zhou Xiaochaun says the PBOC is making changes to the system to make it more easier for Chinese nationals to invest overseas, as well as making it easier for foreigners to buy financial products in China.
He has also revealed the Central Bank is looking into the possibility of allowing foreign-owned companies to list on the Chinese A-share market.
