The chief roadblock is macro:the yuan's lack of full convertibility.
宏观上可见的主要障碍就是：人民币缺乏可兑换性。
Yet while the swap arrangements do not signal full convertibility, they are an important step in that direction.
然而，尽管货币互换协议并不意味着完全自由兑换，却是朝着自由兑换迈出的重要一步。
China seems in no hurry to move towards full convertibility of the yuan and greater exchange-rate flexibility.
中国似乎并不急于朝全面的人民币可兑换和更灵活的汇率机制靠拢。
Of course, eventually everyone hopes to see full convertibility under capital account and the end of the spilt between onshore and offshore markets.
当然，每个人最终都希望见到资本账的完全自由兑换以及在岸和离岸市场分割的终结。
Certainly the swaps should not be mistaken for full yuan convertibility.
当然，不应该把货币互换与人民币完全自由兑换混为一谈。
Some commentators have taken all this as a harbinger of full capital-account convertibility.
一些评论员将上述情况视为资本账户可完全兑换的先兆。然而这个可能性并不大。
Some commentators have taken all this as a harbinger of full capital-account convertibility.
一些评论员将上述情况视为资本账户可完全兑换的先兆。然而这个可能性并不大。
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