China’s Mr Renminbi says Beijing must dismantle capital controls to create a more globally accessible yuan

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October 22, 2020 #DayNewsFeed #ChinaNewsChina’s former central bank governor says it is time for Beijing to relax capital account controls to facilitate international use of yuan – a suggestion that comes as Chinese officials have been more vocal in criticising the global dominance of the US dollar.Zhou Xiaochuan, who served as governor of the People’s Bank of China from 2002-2018, said at a financial forum in Beijing on Wednesday that China cannot have it both ways by maintaining rigid capital account controls while promoting use of…