China tightens control to restrain currency's rise

The ruling Communist Party said in 2015 the yuan would be made a “freely tradable and freely usable currency” by last year. But it has kept controls in place due to concern about swings in the exchange rate and the flow of money into and out of the world’s second-largest economy.

Makes perfect sense.... to Chicom.

Makes perfect sense.... to Chicom.

You never go by what anybody says. You go by their actions. China's actions has always been consistent: control. It is all about managing: state enterprises, the banks, the foreign investors, currency, one-child policy. It is the opposite of the hands free approach.