Among Sinophiles and Sinophobes alike, it is an article of faith that China is committed to opening up its capital account. Before long, goes the belief, private investors will be able to convert Chinese financial assets into foreign financial assets and vice versa, at market-determined rates of exchange. Official rhetoric tends to encourage them: last month a senior People’s Bank of China policymaker said that Beijing should aim to “basically realise the goal of full yuan convertibility” by 2015.
無論是親華還是仇華陣營,各方都相信中國正致力於開放其資本賬戶。根據這種信念,用不了多久,私人投資者就將能夠以市場決定的匯率,在中國金融資產和外國金融資產之間進行轉換。官方的言論也傾向於助長這種觀點:上月,中國央行(PBOC)一位高層政策制定者表示,中國政府應爭取到2015年「基本實現人民幣全面可兌換的目標。」