RENMINBI EDGING CLOSER TO FULL CONVERTIBILITY, SAYS HSBC

HONG KONG – The renminbi is already more convertible than many think - with just four of 40 items under the capital account still non-convertible, according to HSBC. In a new research report, HSBC says 22 items are now partially convertible, including transactions in the bond market, stock market, real estate market and personal capital transactions – while another 14 areas are basically convertible, including credit operations, direct investment and the liquidation of direct investment.