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The Chinese yuan, also known as the renminbi, is already convertible under the current account - the broadest measure of trade in goods and services. However, the capital account, which covers portfolio investment and borrowing, is still closely managed by Beijing because of worries about abrupt capital flows.

Fixed assets show 18.1pc rise

PUBLISHED : Friday, 18 April, 1997, 12:00am
UPDATED : Friday, 18 April, 1997, 12:00am

China's investment in fixed assets rose 18.1 per cent year on year in the first two months of the year to 58.86 billion yuan (about HK$54.68 billion), according to State Statistical Bureau figures. In January-February, investment in capital construction was 33.65 billion yuan, up 17.2 per cent. Investment in technical upgrading was 9.87 billion yuan, rising 26.7 per cent, while investment in real estate was 12.8 billion yuan, an increase of 11.8 per cent.


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