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.
Shanghai has started the countdown to the introduction of a "qualified domestic limited partner" (QDLP) scheme, which will allow foreign hedge funds to raise yuan capital on the mainland to make investments in overseas securities.Tuesday, 19 March, 2013, 5:40am
The People's Bank of China has room to widen the yuan's trading band this year, a reform that could have been done earlier and more quickly, a prominent economist and former adviser to the central bank said.12 Mar 2013 - 6:44am
The outgoing commerce minister fired a parting shot at Japan and the United States over the negative impact of their monetary easing on China's trade. Chen Deming's criticism came as unexpectedly strong figures were released yesterday for mainland exports last month9 Mar 2013 - 5:42am
Last week People's Bank of China deputy governor Yi Gang declared that the central bank is fully prepared for an outbreak of hostilities. This week the former economics tutor of incoming premier Li Keqiang said "China doesn't approve of some countries' overly accommodative monetary policy."8 Mar 2013 - 4:30am
Besides running a record-high budget deficit, the economic tasks facing the new cabinet also include maintaining a GDP growth rate of 7.5 per cent, keeping inflation steady at 3.5 per cent and guarding against financial risks to make growth more sustainable, something stressed by outgoing Premier Wen Jiabao in his last work report.6 Mar 2013 - 5:24am 1 comment
While bankers see big benefits from Qianhai development there is scepticism elsewhere in the financial industry about whether the plan will benefit the sector or the Hong Kong economy as a whole.26 Feb 2013 - 4:54am
Moves to create the "Manhattan of the Pearl River Delta" on a patch of reclaimed land west of Shenzhen kicked off with a bang last month, and bankers are bullish over prospects for the future financial hub.26 Feb 2013 - 5:21am
The move could be followed by a further relaxation of cross-border flows of yuan in both directions, Chan said, in tandem with the liberalisation of the mainland's capital account.22 Feb 2013 - 5:22am
When people look for the cause of Hong Kong's property market ills, they often point to the city's currency peg to the US dollar.
Because of the peg Hong Kong automatically imports US interest rates, which at a whisker above zero are far too low for the city's relatively vigorous economy, they argue.5 Feb 2013 - 5:02am 3 comments
Qianhai, in Shenzhen, may be the smallest of the dozen experimental zones on the mainland - which include Nansha in Guangzhou and Hengqin in Zhuhai - but its role is arguably the most significant.29 Jan 2013 - 4:56am