Published on 13.10.2011

EIU - China in focus

Cross-border financial liberalisation in China - not yet the big bang

A long way to go before Shanghai can emerge as the main beneficiary from renminbi liberalisation
\n
\nThe timetable to turn Shanghai into a world-class financial centre by 2020 is currently slipping. Such plans require a substantial opening of capital markets to international players and free conversion of the renminbi, but the global financial crisis dulled the Chinese leadership's appetite for bold reform and China's capital-account controls continue to erect a wall around the country's financial markets.
\n