Premier signals way to yuan internationalization

Maintaining steady economic development and further strengthening financial regulations are basic to the internationalization of Chinese currency, and have consolidated the government's stance to speed up relevant reforms, Premier Wen Jiabao told global business leaders at a forum on Monday.

The government is pushing forward policy innovations and regulations to make the yuan float more freely, and the currency will be freely convertible "at the right time", the premier said to delegates at the China Development Forum 2012.

"The direction of our economic reform and policies will not change or stop," Wen said, encouraging foreign company executives to strengthen confidence in the country's future.