China first started trading the yuan in the currency market in the U.S.

China launches yuan trades in the currency market in the U.S.. Total China may need 5-10 years to make the yuan fully convertible, and a complete way of investing on a par with the dollar, euro and yen, "We are preparing for the day when the yuan becomes fully convertible," - said chief executive officer of the New York unit of the Bank of China Li Sjaotszina . The course of China's currency is still tightly regulated by the state, its output to markets outside China will allow the yuan to become an international currency for trade and investment. In addition, China wants to reduce its dependence on the dollar. In March 2010, Premier Wen Jiabao said that China is concerned about the size of assets in dollars, transmits bfm.ru. Bank of China is implementing an international expansion of the yuan while the U.S. accuses China of artificially undervalued Chinese currency, which increases the U.S. trade deficit with China. Scheduled for next week's visit to Washington, Chinese President Hu Jintao and the Chinese monetary policy is expected to again be one of the issues for discussion. "This makes the yuan more affordable for individuals and corporate. But China is still a long way to go before he will receive a fully convertible currency ", - said the head of international currency strategy at RBS Securities Robert Cinch. Businesses and individuals in the U.S. already can trade the yuan through the western banks such as HSBC Holdings. Now the Bank of China, 70% owned by the state, allows companies and individuals buy and sell through the Chinese currency accounts in its U.S. offices. Chinese Central Bank limits the amount of yuan, which can be converted to individual private clients in the U.S., 4 thousand dollars a day for account holders and 2 thousand dollars for those who do not have accounts at branches of Bank of China to the United States. This restriction is to prevent currency speculation.