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.
Hope output reaches $5.5b
Output at Hope Group, the mainland's largest private company, reached six billion yuan (about HK$5.57 billion) last year, compared with five billion yuan in the previous year, a company spokesman said yesterday. Hope, a feed company launched in 1982 with an investment of 1,000 yuan, had increased its feed processing subsidiaries to 100 from 83 in 1996.