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.
The story by numbers
Reorganised into current shareholding structure 1982 and currently comes under the control of the State-owned Assets Supervision and Administration Commission. Has 19 subsidiaries and offshoots, as well as 18 overseas units, including Hong Kong-listed China Overseas Land.
At the end of 2005, net profit reached 1.36 billion yuan, revenue topped 115.7 billion yuan, assets worth 105.6 billion yuan; construction contract value worth 157.6 billion yuan.
China Construction has 65 property development projects in the mainland, with a land bank of 10 million square metres that involve a total investment of 44.8 billion yuan.