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.
Crackdown to target taxis
The capital's transport administration will crack down on unlicensed taxis during the National Day holiday, The Beijing News reports. The campaign will also target taxi drivers who cheat passengers by refusing to use their meters, fining violators up to 2,000 yuan.
Ex-deputy loses appeal
Former Chaoyang District Environmental Protection Bureau deputy director Jia Xiujun was sentenced to five years' jail by the Beijing No2 Intermediate People's Court on Thursday after appealing against his first sentence of three years. The Yangtze Evening News reports Jia was sentenced by the Chaoyang District People's Court in June for taking 200,000 yuan in bribes from a coal dealer.
Officials breach child policy
HEBEI - More than 900 party officials have been punished by the Shijiazhuang government for defying the birth control policy this year. The Yanzhao Metropolis News reports the city has set up a review system to check on compliance with the policy by candidates for official positions. Anyone who has more children than allowed will be denied a job.
Fraudster jailed for 10 years
LIAONING - A 77-year-old Jilin fraudster has been jailed for 10 years by Tianjin's Beichen District People's Court. Wang Guoliang had pretended to be a retired deputy public security minister to cheat a Tianjin businesswoman out of 560,000 yuan, the Tianjin Daily Express reports. He had promised to use his official channels to grant the woman shares in a large unspecified company and to provide investment funds.
Underwear is solid gold
LIAONING - Underwear handmade from pure gold was displayed on a half-naked model at a gold shop in Shenyang on Thursday, the Shenyang Evening News reports. Four of the shop's senior goldsmiths took four months to mould gold worth 200,000 yuan into tiny threads and weave the underwear, which weighs 950 grams. On average one troy ounce of gold can make 1,500 metres of thread. The shop said the underwear was not for sale and would remain on show until today.
Dancing schools colluded on fees
ANHUI - After complaints from the public, four dancing schools in Anqing were punished by the city's Pricing Administration Bureau for colluding on fee increases, the Jianghuai Morning Post reports. The schools, which had simultaneously increased their fees from 50 yuan a month to 70 yuan, were ordered to drop their fees back to 50 yuan.
SHANGHAI - From November, the city's subway passengers will be able to watch a TV series on televisions installed in trains and at stations. The Oriental Morning Post reports production of a 40-episode drama commissioned for the subway will be finished this month. In three-minute episodes, the drama tells the story of a girl who uses the subway. A new episode will be screened every day.
Farmers fall into vat of cyanide
HENAN - Sixteen farmers from Qiaoying village, Lingbao
, fell through rotten boards into a tank of cyanide on Thursday. Nine died from drowning or poisoning, and seven were in satisfactory condition after hospital treatment, Xinhua reports. The villagers had gathered in the house to discuss funeral arrangements for a young man who had been found dead there at daybreak. Police suspected he had been poisoned by the cyanide. The cyanide had been abandoned years ago by gold miners, who used it to separate gold from ore.
Compensation for child's death
GANSU - A family has received 220,000 yuan in compensation from the Pingliang No5 Middle School after a toilet block at the school collapsed and killed their child on September 14. A police investigation found bad construction was responsible for the accident, and the person who built the block was detained by police on Thursday, the Lanzhou Morning Post reports.
Tomb robbers jailed
SHAANXI - Nine men have been jailed for nine to 11 years by the Hancheng People's Court for trying to rob tombs, the Xian Evening News reports. Their target had been a tomb group dating to the Zhou dynasty 2,700 years ago. The dynasty, the longest lived in Chinese history at 866 years, is considered the zenith of Chinese bronzeware making. More than 10,000 artefacts have been unearthed at the site since 2005. It was determined the robbers did not manage to gain entry to the tomb.
Satellite launch a real blast
SICHUAN - More than 1,000 people from across the country have already registered to attend the launch at Xichang of China's first lunar satellite on November 26. The Oriental Morning Post reported that the travel booking service for the event said it would probably increase the ticket price from 800 yuan because only 2,000 seats were available.