China Pushes Back on Mark Mobius Money-Transfer Complaint

There was nothing new or unusual about hurdles faced by billionaire investor Mark Mobius in trying to move a bundle of cash out of China, the nation’s top foreign exchange regulator said in response to his public complaint.

Everyone has to comply with regulations governing large, cross-border transfers of cash, and the nation’s capital control rules haven’t changed, the State Administration of Foreign Exchange (SAFE) told Caixin.