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.
LOSS AT LUOYANG GLASS
H share Luoyang Glass has posted a net loss of 342.44 million yuan (about HK$320.93 million) for last year, compared to a net profit of 9.86 million yuan in 2001. An operating loss of 342.46 million yuan was recorded last year. Turnover edged up 1.16 per cent to 822.8 million yuan.