China needs flexible yuan, more efforts to open up, say experts

China should improve the yuan exchange rate management and shift to a more flexible regime along with in-depth financial opening-up, a leading financial think tank said.

A more flexible exchange rate can avoid hampering the international usage of the yuan and keeping it away from the international currency group, said a report published by the China Finance 40 Forum over the weekend.

The report said further reform is needed on some basic financial schemes, including the monetary policy framework and exchange rate regime, in order to match the pace of financial opening-up, especially at a time when the US-China trade dispute has created more uncertainties and challenges.