# Beijing promises currency reforms, but on its timetable

> Deputy Governor Yi Gang and ambassador Cui Tiankai told a New York conference that China will improve yuan convertibility after cutting capital outflows and corporate overleveraging. They also warned the US against trade barriers. The PBOC plans easier offshore yuan payment infrastructure.

- Date: 2017-04-24 · published 2017-04-24T12:00:00.000Z
- Category: policy · region China · magnitude low
- Page: https://feedsoft.ai/events/71712-beijing-promises-currency-reforms-but-on-its-timetable
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Trade-barrier warnings bear on US-China agricultural trade risk, but the piece is mainly about currency reform timing. The direct commodity impact is limited.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| USDCNY | 2017-09-11 | [China scales back measures propping up its currency now that yuan has surged](https://feedsoft.ai/events/7804-china-scales-back-measures-propping-up-its-currency-now-that-yuan-has-surged.md) | +1.1% | +2.7% |
| USDCNY | 2017-01-26 | [Is Korea a currency manipulator? - The Korea Times](https://feedsoft.ai/events/73218-is-korea-a-currency-manipulator-the-korea-times.md) | -0.1% | -0.3% |
| USDCNY | 2021-06-01 | [Yuan continues to climb as regulators warn on speculative currency bets](https://feedsoft.ai/events/47326-yuan-continues-to-climb-as-regulators-warn-on-speculative-currency-bets.md) | +0.5% | +1.4% |
| USDCNY | 2017-02-23 | [China's chances of being called a 'currency manipulator' just dropped](https://feedsoft.ai/events/72722-china-s-chances-of-being-called-a-currency-manipulator-just-dropped.md) | +0.0% | +0.0% |
| USDCNY | 2019-08-05 | [U.S. designates China as currency manipulator for first time in decades](https://feedsoft.ai/events/57796-u-s-designates-china-as-currency-manipulator-for-first-time-in-decades.md) | +1.8% | +3.1% |

## Sources

- scmp.com: https://www.scmp.com/news/china/economy/article/2090239/china-making-full-convertibility-its-currency-priority-will-ease

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.