When taking advantages of Hong Kong financial infrastructures, we have to bear in mind that the Mainland still exerts control on RMB transactions in  2  BIS Review 67/2006  several aspects. The 5th Plenum of the 16th CPC central committee reclaimed the direction of RMB reform is to realize full convertibility, but it will be a gradual process.
While RMB was not a convertible currency, practices in RMB settlement and foreign exchange clearing and settlement should abide by relevant rules and regulations. III. International payment & settlement system development trends and noticeable changes  A payment & settlement system develops in a complicated and sustainable dynamic manner.