A currency's convertibility determines the ability of an individual, corporate or government to convert its local currency to another currency or vice versa with or without central bank/government intervention. The Chinese yuan has never been a fully convertible currency. As China's economy continues to grow with increased global trades, the currency has begun to be partially convertible in a small number of markets. In 2013, the yuan became the ninth most traded currency in the world as ranked by the Bank for International Settlements. Within the Shanghai Free Trade Zone, the yuan will be fully convertible making it easy for global businesses to conduct free trades.