Yuan may be fully convertible in '3-5 yrs'

Cross-border trade using RMB will be extended nationwide, official says

BEIJING / SHANGHAI - A senior economist has said China could achieve full convertibility of the yuan in three to five years - much sooner than previous forecasts.

Xiang Songzuo, deputy director of the International Monetary Institute with Renmin University of China, told China Daily on Friday that full convertibility of the yuan could be achieved within that time span, citing sources from the central bank.