China needs to ease capital controls before the UAE can consider buying the Asian powerhouse's assets, says the Central Bank Governor.
If rules were relaxed, the treasury department of the UAE Central Bank would decide on whether to buy yuan-denominated assets, Sultan al Suwaidi said.
"It depends on the Chinese themselves because they are not yet prepared to allow the yuan to be a reserve currency, so they have tremendous controls," he said yesterday.
No comments:
Post a Comment