China eases curbs on overseas debt to stem outflows

Hong Kong

CHINA is seeking an antidote for the capital outflows that are weakening the yuan by making it easier for companies to borrow abroad and bring money back into the country. It may be swimming against the tide.

The National Development and Reform Commission will remove a quota system for companies to issue certain international bonds and loans and require only registration rather than applications for such borrowing, it said on Wednesday.