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.


Former soccer chief says he was tortured

The top mainland soccer official implicated in an unfolding corruption scandal has accused interrogators of extracting his confession under torture in a dramatic retreat from the bribery charges laid against him.