A Financial Times piece lays out the true significance of the yuan's inclusion in the SDR, now all but a foregone conclusion. In essence, it says that this is indeed a watershed moment for the Chinese economy's global integration, even if the short-term effects appear muted.
Beijing's aspiration to dismantle capital controls by 2020 seems quite ambitious, but SDR inclusion strengthens the hand of those, led by PBOC governor Zhou Xiaochuan, who are officially committed to liberalization. On the other hand, it also raises the stakes: any major retrenchment from here on out will represent a severe breach of goodwill and trust, and that's assuming that the liberalization doesn't get bogged down to begin with.
Business Insider presents a Standard Chartered Bank matrix of how the different types of capital will be liberalized.
The CPC isn't in fact relinquishing control of China's finances; it's merely switching gears to do it with more efficient, repeatable processes, reducing the need for ad-hoc micromanaging. Further, it knows that an unfettered yuan is a requisite for the intensified regional trade and development competition that's heating up with the US in the Asia-Pacific.
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