Yuan conversion feasibility study planned

The central government will explore the feasibility of opening up Shenzhen's Qianhai district as the first mainland trial zone for yuan conversion under capital account, said Wang Zhongwei, spokesman of the government's delegation to Hong Kong, on Thursday.

The initiative aims to further promote mutual investment and financial cooperation between Hong Kong and Shenzhen, Wang told media in Hong Kong.

The initiative will cover offshore yuan loans, trade and investment financing, mid-to-long-term bonds development and other financial business, the city's public service broadcaster Radio Television Hong Kong reported, citing government officials.