CHINA US Focus - Perspectives shaping the world's most important bilateral relationship

China took another step towards a more freely traded yuan on Thursday, announcing plans for a test zone for the currency's convertibility in Shenzhen, the same city that first tried out China's broader economic reforms some 30 years ago.

 

An experiment to boost two-way yuan flows between Hong Kong and a $45 billion "mini-Hong Kong" economic zone planned just across the border will put in place another small but key mechanism to eventually open up China's tightly controlled capital account, economists involved in the plan said.