When China's central bank governor ignited fresh currency speculation by saying he saw no major obstacles to a yuan adjustment, he also spoke of wider reform measures that were still under review. But what exactly does China need to do? Analysts said Beijing needs to work through a short list of preparations before unveiling long-awaited reform that will allow authorities to drop the yuan's decade-old peg against the dollar. Most economists expect a shift to a system under which the yuan is loosely managed against a basket of foreign currencies.