China Eases Capital Controls for Foreigners in Shanghai, Beijing

(Bloomberg) — China is taking steps to loosen strict capital-control measures in its two most important cities amid efforts to win back foreign companies as overseas investment slumps and the economy slows.

In Shanghai’s pilot free-trade zone and Lingang area, foreign investors are now allowed to freely transfer their investment-related funds in or out of China without any delay should the money be “real and compliant,” authorities in the financial hub said in a set of rules that took effect on Sept. 1.