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Fully convertible yuan?
China's currency is far from fully convertible.
It may take another ten before it matures into a fully convertible international currency.
When the yuan becomes fully convertible, it will benefit the development of Shanghai".
For one thing the yuan is not fully convertible, so it cannot be an anchor currency.
However, a merger will not make sense until the yuan becomes fully convertible.
That merger is still expected, but not until China makes the yuan a fully convertible currency.
The yuan is not yet fully convertible and will not be for several years, which limits its influence.
The currency is not fully convertible, so capital flows in and out of the country are controlled.
Still, many analysts say they believe that China's currency will not be fully convertible until 2015 to 2018.
Because the renminbi is not fully convertible, however, it will not compete soon as a global reserve currency, he said.
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