China Should Promote Yuan's Foreign Acceptance: Caixin

China's decision to experiment the free convertibility of the yuan in Shanghai should focus on increasing the willingness to use the yuan by foreign companies and investors, Caixin reported citing industry insiders. Policies will actively encourage yuan settlement in commodity trading, facilitate the return of yuan held by foreign investors to invest in stock and bond markets in Shanghai, Caixin said citing an unnamed source from Shanghai FX management department. It is also expected that more Qualified Foreign Limited Partners (QFLP) and Qualified Domestic Limited Partners (QDLP) pilot businesses can be implemented in Shanghai, including promoting the management of domestic yuan funds by QFLP institutions, Caixin cited sources as saying.