• Thu
  • Aug 28, 2014
  • Updated: 2:32pm

Yuan

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.

Yuan's globalisation will take a while

The internationalisation of the renminbi is expected to continue to pick up pace, alongside the ongoing liberalisation of China's exchange rate, capital account and domestic financial market.

Tuesday, 21 August, 2012, 7:32am

China Digest, August 17, 2012

CHONGQING

Delayed passengers rebel

17 Aug 2012 - 4:17am

Losing its shine

Zijin Mining Group chairman Chen Jinghe addresses a briefing after China's largest gold producer reported a disappointing first-half net profit of 2.38 billion yuan (HK$2.91 billion). Photo: May Tse

14 Aug 2012 - 9:39am

China Digest

Gansu

Highways to charge by weight

14 Aug 2012 - 7:50pm

Spending spree begins - but don't expect 'big bang'

Mainland provincial and city leaders have laid out ambitious spending plans, reigniting speculation that a stimulus package similar to the programme launched during the 2008 global recession may be on the way.

15 Aug 2012 - 11:11pm

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.

15 Aug 2012 - 11:10pm

Three banks to offer yuan accounts to non-residents

Three lenders will offer yuan services for non-residents from today as part of a move to expand their business in that currency, after yuan trade settlements rose to a record high in June.

15 Aug 2012 - 10:47pm

Talking points

Our editors will be looking ahead today to these developing stories ...

Tribunal hears claim against roaming charges

15 Aug 2012 - 10:42pm

Ming-style luxury on sale for a humble 500m yuan

A luxury Chinese-style garden villa project in Suzhou, Jiangsu province, has been launched in Hong Kong, with the biggest unit going for a whopping 500 million yuan (HK$608 million).

31 Jul 2012 - 12:00am

Hong Kong will allow non-residents to open yuan bank accounts

Hong Kong will allow non-residents to open yuan bank accounts and buy unlimited amounts of the currency from next Wednesday in a bid to attract overseas investors to invest in yuan products in the city, as it seeks to defend its claim as the leading global offshore-trading hub for the currency.

26 Jul 2012 - 12:00am

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