China pushing for yuan to be added to IMF's SDR basket

Beijing

YOU can't buy a beer with it. You can't trade in it. Yet, China's push to win an arcane currency status bestowed by the International Monetary Fund is driving policy makers in Beijing to ease capital restrictions.

Board members of the IMF will vote this year on whether to add the yuan to its Special Drawing Rights basket along with the US dollar, euro, yen and pound. An IMF mission in China on Tuesday said it will work closely with the authorities towards inclusion, which is "not a matter of if but when".