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.
Capital's runway plans to go ahead
Beijing Capital International Airport says it is planning to build a fourth runway despite competition from Shanghai-Beijing high-speed train services. The group said yesterday that its net profit had more than doubled to 595.19 million yuan (HK$705.5 million) last year from 295.97 million yuan in 2009 on 16.35 per cent growth in revenue to 5.77 billion yuan, helped by exchange gains, which rose to 81.18 million yuan from 2.44 million yuan.