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.


Charities bear the brunt of scandals

The China Foundation for Poverty Alleviation is struggling to meet a 300 million yuan (HK$365.6 million) donation target for this year amid widespread distrust of charity projects following a recent spate of high-profile scandals implicating several leading mainland charitable organisations.