WSJ: Hony Capital Joins China’s Private Equity Convertibility Experiment

BEIJING—Hony Capital Ltd., one of China’s largest homegrown private-equity firms, has agreed to become the first investment manager to test the convertibility of the yuan in an experimental financial hub being built near Hong Kong.

China last month designated the Qianhai region in the southern metropolis of Shenzhen as a testing ground for freer currency movements and other service-sector changes, as the country continues its drive to make the yuan a global currency. Nationwide, Beijing still limits yuan … ===> Continue Reading at Wall Street Journal (Subscription Required)