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.
State textile firms back in black
State-owned textile firms ended six years of losses with combined profits of 116 million yuan in the first 11 months of this year. The sector lost 3.08 billion yuan in the same period last year, the Economic Information Daily said.