China aims at making the yuan a reserve currency like the euro (Photo: EUobserver)

Chinese yuan to be convertible with euro by 2015

China is seeking to make its currency fully convertible by 2015, officials said in Beijing, a move which may help the ailing euro and dollar, which are losing against an under-valuated yuan.

Chinese officials told the EU business community in Beijing that the yuan will achieve "full convertibility" by 2015, Davide Cucino, the head of the EU's chamber of commerce in China said in a press conference on Wednesday (8 September).

“We were told by those officials by 2015,” Cucino said,...

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