Yi Gang, deputy governor of the People's Bank of China, has made the suggestion on the sidelines of the National People's Congress.

 

　　At the same time, the head of the National Development and Reform Commission Zhang Ping is reporting they're making good progress on the currency trading pilot programme in the Qianhai district of Shenzhen, which is located along the border with Hong Kong.

 

　　The renminbi hit a seven-week high Wednesday after both the PBOC and Chinese commercial banks bought a record 110-billion US dollars worth of foreign exchange in January.

 

　　For more on the Chinese currency reform, we're joined live on the line by CRI's financial commentator Cao Can.

 

　　1. How ready is the PBOC to increase the margins within which the yuan is allowed to fluctuate? What consequences would this have?

 

　　2. How are pilot projects such as the Qianhai district in Shenzhen working? Should it be successful, will other similar zones be set up and liberalise interest rates here on the mainland?

 

　　3. The IMF is planning to add the Australian and Canadian Dollar to the list of the reserve currencies within three months. What is your estimation of a time-frame for the renminbi becoming a reserve currency?