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.


Toothpick sellers fined for lacking logging licence

With reports of toothpick sellers being fined thousands of yuan for not having a logging licence, hundreds of owners of small shops in the provincial capital of Liaoning have chosen to close their doors for fears they could be the next victim of a city government crackdown.