Yuan free float may well become a reality: Pimco

Hong Kong

AS China's yuan swings back into the global spotlight, it might seem like an odd time for the authorities in Beijing to loosen their grip on the tightly managed currency. Yet for a growing number of analysts and investors, the prospect of a freely floating yuan - a Chinese exchange rate wholly determined by market forces - is no longer a distant possibility.

Advocates include a government-backed researcher and a former central bank adviser, while bond-market powerhouse Pacific Investment Management Co says the chances of a free float are rising.