Since July the State Administration of Foreign Exchange (SAFE) has demanded more information on export earnings.

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Spokespeople for China's Ministry of Commerce and State Administration of Foreign Exchange didn't respond to requests for comment.

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First, there are financial investments by the state, through bodies such as CIC and the State Administration of Foreign Exchange (SAFE), which looks after the country's vast foreign reserves.

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Guo Shuqing, the head of the China Securities Regulatory Commission, said that the regulator had already reached an agreement with the Chinese central bank and the State Administration of Foreign Exchange to raise the QFII limit.

BBC: Chinese yuan notes

Then last month the chief of the State Administration of Foreign Exchange, a division of the central bank, removed any ambiguity when he stated that China would make the renminbi convertible on the capital account in five years.

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