China Eyes Yuan Outflows in Battle Against Sinking Currency
(Beijing) — China's central bank is said to be considering tougher, coordinated measures on cross-border capital movements to stem further depreciation of the country's currency, taking aim at yuan outflows, which analysts say also depress the yuan's value.
Previous government policies have mainly targeted foreign exchange outflows, mostly in dollars. Increasingly, however, companies have worked around those controls by moving yuan funds overseas and converting them into dollars in offshore markets, according to a research team at the China International Capital Corp. (CICC), an investment bank.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas