PBOC Said to Tell Banks to Limit Multinationals' Yuan Outflows

(Beijing) – China is limiting the outflow of yuan funds that multinationals can send out of the country – a move apparently aimed at influencing the exchange rate in offshore markets by tightening supply.

The People's Bank of China told banks providing yuan cash-pooling services for multinational corporations to limit outflows so the firms do not send more funds overseas than they bring in, people with knowledge of the matter said.