China will continue reforms in its exchange-rate mechanism over the next few years and gradually realize capital account convertibility, said Zhou Xiaochun, the central bank governor, on Tuesday at a financial forum, the China Securities Journal reported Thursday.
Special Coverage: Rare as it isHe said accelerating urbanization would create more demand for non-export sectors such as healthcare and education, and investment focus would flow from traditional sectors into the service industry.
China will continue to promote reforms of its exchange-rate mechanism and gradually allow the yuan to be used in cross-border trade settlements and international investments, Zhou said.
