Banks in China told not to reveal curbs on capital outflows

Shanghai

CHINA'S forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan's prospects to themselves, several bankers said.

Both demands are seen as an attempt by the authorities to prevent alarm that could trigger further declines in the yuan, the bankers from local and foreign banks said.

The yuan lost more than 6 per cent against the US d…