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China imposes extra forex rules on citizens to stem capital flight

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China's currency regulator has warned citizens of potential risks from investing in foreign assets, adding that yuan deposit rates are higher than overseas equivalents.

Shanghai

AT risk of capital flight, China marked the new year with extra requirements for citizens converting yuan into foreign currencies.

The State Administration of Foreign Exchange, the currency regulator, said in a statement on Dec 31 that it wanted to close loopholes

sentifi.com

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