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.
Midnight raid on clubs leads to 29 arrests
A midnight raid on 14 nightclubs and upstairs bars in West Kowloon led to the arrest of 29 people on Saturday night. The suspects, aged between 17 and 40, were arrested for offences including drug trafficking, drug possession and failure to display identity documents, a police spokeswoman said.
Footbridge jumper's suicide attempt fails
A man attempted to commit suicide yesterday in Central by jumping off the footbridge at the junction of Pedder Street and Des Voeux Road Central. He sustained injuries to his head, hands and legs, but was in a stable condition.
Yuan business promises big profits for Hong Kong
Secretary for Financial Services and the Treasury Chan Ka-keung said the development of yuan-related business in Hong Kong could create 'once in a century' opportunities. He said yuan deposits in the city's banks doubled from 315 billion yuan (HK$385 billion) in 2010 to 619 billion yuan as of October.
Tsang agrees the time is right for power review
Chief Executive Donald Tsang Yam-kuen said authorities were reviewing the regulatory framework for the electricity market, amid calls to impose more controls on tariff rises and the recent controversy over higher power costs.
Central graffiti artist detained by police
A 21-year-old man was arrested under the Summary Offences Ordinance for painting graffiti on a wall near Hollywood Road in Central.
Flat owners not keen to return to fire-hit block
Ten owners of flats damaged by last month's fatal fire in Fa Yuen Street, Mong Kok, said they could not return to their flats since government refurbishment of walls and corridors could cover up fire damage and affect insurance evaluations.