China has said that is planning to set up a special zone to experiment with the yuan's convertibility, the latest step in its bid to open up its capital markets.
The zone will be set up in Shenzen where China introduced its key economic reforms 30 years ago.
Beijing has been seeking to open up its capital markets to try to trigger a fresh wave of economic growth.
It has also been pushing for a more global role for its currency.
"This is a logical next step of the ongoing capital account opening and yuan internationalisation," said Wei Yao, China economist at Societe Generale in Hong Kong.
"A lot of developments this year show that China is indeed sincerely committed to reforms and opening up."
Details of the plan are expected to be announced at a press conference in Hong Kong later on Friday.
Source & Image : BBC
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