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China imposes extra forex rules on citizens to stem capital flight
Published Tue, Jan 3, 2017 · 09:50 PM
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 exploited for purposes such as money laundering and illegally channelling money into overseas property.
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