China Premier Li Keqiang calls for further liberalization of Yuan

A report from the South China Morning Post says Premier Li Keqiang has called for further liberalization of the CNY exchange rate.

“The renminbi exchange rate will be further liberalized, and the currency’s stable position in the global monetary system will be maintained,” according to the government work report read out by Premier Li Keqiang at the National People’s Congress on Sunday.

The new language means the PBOC could be more tolerant of Yuan weakness against the US dollar.