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COMMENTARY

Liberalisation puts Chinese yuan closer to free float

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If China's financial liberalisation policies continue, it is likely that external corporate debt issuance will pick up to meet foreign demand.

CHINA'S financial markets are fascinating to watch these days. Efforts by officials to decrease the nation's enormous debt pile without destabilising domestic markets are having profound consequences, most visibly in the bond market, where the yields on short-term debt have risen above those on

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