China's central bank plans to remove restrictions and allow the sale of small amounts of foreign currency on a trial basis in Shanghai's Pudong New Area this year, state media reported. The trial was announced as part of the People's Bank of China work plan for 2006, but details such as maximum conversion limits were not announced. China imposes strict regulations on buying foreign currencies, which has led to a thriving black market. The government introduced a gradual relaxation of controls last year.
Categories