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.
Guangzhou Shipyard sailing
Guangzhou Shipyard said its interim earnings almost doubled to 20.17 million yuan (about HK$18.76 million) in the first six months, as its turnover rose 30.36 per cent to 802.36 million yuan. Earnings per share surged 98 per cent to 4.08 fen. No interim dividend was proposed.