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Archive for April, 2011

大家好. 对中国的货币及汇率政策有兴趣的朋友, 可上網到http://www.igef.cuhk.edu.hk/seminar一看. 我5月24日在中大有講座, 欢迎參加.

任志刚

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Readers may wish to read the attached paper that I have just completed on the subject of capital account convertibility for the renminbi. In the paper I examined a number of issues relevant to achieving capital account convertibility for the renminbi. I made what I think is an important distinction between full convertibility and free convertibility, and urged the Mainland authorities carefully to go for the former, having regard to the stage of financial development on the Mainland and the risks to monetary and financial stability of free capital account convertibility. I ended the paper recommending a strategy for achieving capital account convertibility for the renminbi. My apologies for only providing an English version of the paper.

Joseph Yam

A_SAFE_APPROACH_TO_CONVERTIBILITY_FOR_THE_RENMINBI_with_footnote[1].doc

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