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.

Business Digest, September 21, 2012

China Ocean Shipping is eyeing the possibility of expanding into offshore oil and gas.

Taiwan export orders from mainland rise

Friday, 21 September, 2012, 2:46am

London and HK push for yuan role

David Wootton, Lord Mayor of the City of London

A high level forum of Hong Kong and London bankers will meet again in December to study measures to push the two cities' roles in the internationalisation of the yuan, according to David Wootton, Lord Mayor of the City of London.

15 Sep 2012 - 4:03am

China Digest, September 15, 2012


Head-on crash hurts 10

Ten people were injured in Miyuan county when a minivan being used as an illegal taxi struck their vehicle head-on, the Beijing Times reports. At least one of the injuries was serious. One injured passenger said the minivan crossed into their lane while trying to avoid another car.

15 Sep 2012 - 3:45am

Mainland slows down forex buying

With the private sector less keen to convert foreign currency, yuan supply is tightening. Photo: Reuters

Foreign exchange accumulation on the mainland decelerated drastically this year, limiting the central bank's alternatives in boosting money supply.

The People's Bank of China's purchases of foreign exchange totalled 298.8 billion yuan (HK$365.79 billion) in the first seven months of the year, a year-on-year slump of 87 per cent, it said.

24 Aug 2012 - 3:37am

Subsidies keep Rongsheng Heavy Industries in black

China Rongsheng says four very large ore carriers like these have been delivered since the beginning of this year. Photo: Reuters

China Rongsheng Heavy Industries, the mainland's largest shipbuilder in terms of order backlog, saw interim net profit for the six months ended June 30 plunge 82.3 per cent to 215.77 million yuan (HK$263.7 million), down from 1.22 billion yuan in the same period last year.

22 Aug 2012 - 4:21am

Yuan's globalisation will take a while

Jake van der Kamp

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.

Donna Kwok, HSBC Greater China economist,Insight page, August 20

21 Aug 2012 - 7:32am

China Digest, August 17, 2012

China Digest, August 17, 2012


Delayed passengers rebel

17 Aug 2012 - 4:17am

Losing its shine

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


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