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Warnings flash for China money exodus after record outflows of over US$840b

Households sitting on US$85.2b of foreign currency, according to latest data till last Nov
Saturday, January 16, 2016 - 05:50

LOSING VALUE: The onshore yuan will drop by 1.7 per cent to 6.7 a dollar by the end of 2016, according to analysts' median forecast in a Bloomberg survey.


KAREN Chou, a 32-year-old bank worker in Beijing, had a New Year's resolution: sell yuan, buy dollars.

"I'm not optimistic about China's economy," she said, after rushing to exchange some of her savings for US currency as part of heightened demand at some Chinese bank

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