Commentary China’s stock market rebounded more than 10 percent from the bottom since end-October. Analysts made buy calls against the backdrop of relieving COVID-19 measures. While the market was up, some funds flow statistics are not showing a consistent net inflow in recent days. And the rebounds of other markets like U.S., UK, and Europe…
China’s Communist Cadres Warned Not to Gamble During World Cup Amid Capital Outflow Concerns
It’s not a secret that many Chinese Communist Party (CCP) officials are keen on gambling during the World Cup, and during this year’s FIFA tournament, China’s top disciplinary watchdog warned that gambling is ruining young cadres. A Nov. 24 article of the State Supervision Commission of the Central Discipline Inspection (CCDI) revealed several cases of…
Authorities Freeze Bank Accounts in Several Chinese Cities
News Analysis Many banking customers in China’s Shenzhen city took to social media earlier this month, claiming they couldn’t withdraw cash or transfer money because their accounts were frozen. Chinese media reported that banks collaborated with authorities to freeze bank accounts. Moreover, a financial expert believes Beijing’s real intention is to prevent capital outflow. According to…
Hong Kong Monetary Authority Steps in to Defend Its Weak Currency Amid Capital Outflow
May 21, 2022
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The Hong Kong dollar continues to weaken as the United States starts its interest rate hike cycle. To maintain Hong Kong’s linked exchange rate system, the Hong Kong Monetary Authority (HKMA) made five purchases of HK$17.586 billion ($2.24 billion) in five days. Market participants expect that Hong Kong may have a net outflow of $100…
China Tightens Control on Overseas Investment, Sets New Rules to Restrict Emigration
May 9, 2022
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Asia & Pacificcapital outflowChinaChina Business & Economychina foreign exchangeChinese RegimeemigrationimmigrationInternational RelationsWorld
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While the Chinese communist regime’s zero-COVID policy has accelerated the recession of China’s economy, the humanitarian crisis caused by the strict pandemic control measures has driven interest by wealthy Chinese to emigrate to the United States, Canada, and Europe. In response, the Chinese Communist Party (CCP) recently put out new regulations to tighten its control…
Hong Kong’s ‘Zero-COVID’ Policy Accelerates Exodus of Talent and Capital
Hong Kong’s “Zero-COVID” policy, following mainland China’s lead, has hit the local economy by making many Hong Kongers worry about their future and causing a massive outflow of both talent and capital. A large number of residents have left Hong Kong since the city implemented Beijing’s National Security Law in July 2020. The exodus has…
Chinese Capital Outflows via Cryptocurrency Into Japan
Chinese investors have sped up their capital outflows to other countries. Japanese regulators recently found that Chinese investors were remitting virtual currency to Japanese companies and then converting it into Japanese yen. According to The Asahi Shimbun, Japan’s National Tax Agency discovered, in the course of an investigation into corporate fund flows, that a Japanese…
China’s Regulatory Storm Targets Cross-Border Internet Brokerages
November 3, 2021
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capital outflowChinaChina Business & EconomyChina's regulatoryChinese financial marketInternet Brokerages
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China has been targeting cross-border internet brokerage firms in a regulatory storm. Those firms could be accused of illegal financial business if they provide overseas securities investment services to Chinese clients, according to a high-ranking financial official. On Oct. 24, Sun Tianqi, director of the Bureau of Financial Stability of China’s Central Bank, said at…
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