Steady progress seen in RMB internationalization

China's monetary authority listed steady progress to achieve completely free use of the yuan in cross-border capital investment as one of its priorities this year, based on further market-oriented exchange rate reform, said a statement released on the central bank's website on Tuesday.

Pan Gongsheng, vice-governor of the People's Bank of China and director of the State Administration of Foreign Exchange, called for expansion of the global use of the yuan under a "macro prudential" management framework to monitor market fluctuations.

These points, part of the central bank's 2018 annual work plan, were released after the nation's policymakers introduced reforms to further open the domestic financial sector to foreign investors.