Business

Freely traded yuan

Freely traded yuan

By ASSOCIATED PRESS

BEIJING: China’s ruling Communist Party says it plans to make the country’s tightly controlled currency, the yuan, freely traded by 2020. The announcement on Tuesday came as the party released more details of decisions at a meeting last week on its latest five-year development plan. The party said its leaders agreed to make the yuan a ‘freely tradable and freely usable currency’ by the end of the plan in 2020.