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China relaxes capital controls as pressure eases on yuan

Analysts say the move will allow for more flexibility on the yuan exchange rate; no major fluctuations seen

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Over the next few years, analysts say there is plenty of upside for the renminbi and that the major challenges will be for the Chinese central bank to avoid any speculation which will attract hot money.

Beijing

THE recent relaxation on renminbi capital controls will add more uncertainty to the exchange rate but analysts say the currency is unlikely to see any major fluctuations.

Last Friday, several Chinese media said banks are no longer required to set aside a 20 per cent deposit

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