Renminbi is more flexible and market-based, says IMF

Fund praises the progress made by China's authorities in giving markets greater influence over its currency

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Constructive discussions: the renminbi receives the thumbs-up from the IMF

Changes introduced to the renminbi last year are a positive sign of China's willingness to give markets a bigger influence over the currency's exchange rate, said David Lipton, first deputy managing director of the International Monetary Fund.

Lipton's comments came at the end of the IMF's Article 4 mission to China, which involved "constructive and candid discussions" with senior officials from the government, the People's Bank of China (PBoC), private-sector representatives and academics "to

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