• Tue
  • Sep 30, 2014
  • Updated: 9:54pm


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.

Humble rice dumplings dressed up to thrill

Pricey traditional foods have triggered public complaints during previous Dragon Boat festivals, and this year is no exception.

Saturday, 23 June, 2012, 12:00am

Nuclear link no deterrent at Positano project

Positano is not the most luxurious mainland villa project that has been released for sale in Hong Kong, nor the most expensive. But it has captured the attention of local buyers because of its location - in the Daya Bay district on the South China Sea.

20 Jun 2012 - 12:00am

Rule of law at any price on mainland

Last week, Hunan provincial police announced they would launch a fresh probe into the suspicious death in hospital of June 4 activist Li Wangyang. The decision has apparently been prompted by the public outcry in Hong Kong where tens of thousands of people including prominent politicians and lawmakers called for an open and thorough investigation into his death.

18 Jun 2012 - 12:00am

Lottery ticket scores a record 570m yuan win

The mainland's Chinese Welfare Lottery will make the biggest payout in its history after a ticket won 570 million yuan (HK$698 million) in Tuesday night's draw.

The ticket was bought from a kiosk in a hotel in the Sanlitun area in the Chaoyang district of Beijing.

14 Jun 2012 - 12:00am

Former soccer stars and bosses jailed

Two former soccer bosses were each handed 10 1/2 years in prison for corruption and eight other big names in the sport, including former players in the national team, were also punished for graft yesterday.

Former Chinese Football Association (CFA) vice-chairman Nan Yong was charged with 17 counts of taking bribes worth more than 1.19 million yuan between 1999 and 2009.

14 Jun 2012 - 12:00am

No takers for yuan IPOs amid fears and options

A year has passed since the city's stock exchange operator rolled out its guideline for firms to issue yuan-denominated shares, but there still aren't any takers for what was then seen as a game-changer.

Last June, Hong Kong Exchanges and Clearing (HKEx) introduced the so-called dual-option model.

11 Jun 2012 - 12:00am

Villagers pay high price for steel plant project

Thousands of residents in Zhanjiang, Guangdong, have been left jobless, homeless and unemployed as a result of the local government's plan to invest 70 billion yuan (HK$85.6 billion) to create an iron and steel production base on the city's scenic Donghai Island.

7 Jun 2012 - 12:00am

'Officials gorge in writer's garden'

A tranquil garden and library, donated to Hangzhou by a famous Hong Kong novelist, has been turned into a luxury clubhouse serving extravagant meals, according to a mainland media report.

29 May 2012 - 12:00am

Foshan official denies huge embezzlement

A community party chief from Foshan has denied embezzlement and bribery charges in a case involving 100 million yuan (HK$123 million) in land-acquisition funds.

23 May 2012 - 12:00am

A taste for greener pastures

How far would you go for organic food? Most people don't care about it; others do but aren't willing to pay a premium or go out of their way to get it. Then there's Harry Yuan, who spent a considerable amount of time and money travelling around the world in search of food that is local, sustainable and organic.

22 May 2012 - 12:00am

Ratings agency pans infrastructure scheme

A mainland credit rating agency has warned that plans by the government of Jiangsu province to spend heavily on infrastructure to stimulate the economy are 'premature'.

21 May 2012 - 12:00am

Ex-official admits he sold top jobs

A former top official in the People's Congress of Maoming has pleaded guilty to selling government contracts and scores of official positions for nearly 18 million yuan (HK$22.1 million) in bribes.

17 May 2012 - 12:00am

Ministry's massive debt tipped to get a lot worse

The Ministry of Railways' huge debt will continue to increase, and rising costs will hurt its profitability, a state credit rating agency warns.

'The debt of the railways ministry will continue growing because rail construction projects will still need debt financing,' Dagong Global Credit Rating said in its report on the ministry's first short-term bond issue this year.

15 May 2012 - 12:00am

Raising food safety, an egg at a time

With food-safety scandals seemingly springing up left and right, Chen Yanhong is among those filling a growing demand for quality foods that people can trust. Organic farming has become a fashionable profession these days, and Chen has seen her business burgeon as more and more city-dwellers pursue healthier options.

13 May 2012 - 12:00am

Big land buys haunt builders

Developers who were overly optimistic about the future of the mainland property market and bought land at premium prices two years ago are now paying for their rosy outlook.

9 May 2012 - 12:00am