China’s capital outflow controls have gone to the ‘extreme’, former central bank adviser says

//China’s capital outflow controls have gone to the ‘extreme’, former central bank adviser says

China’s capital outflow controls have gone to the ‘extreme’, former central bank adviser says

A former Chinese central bank adviser has admitted that Beijing’s capital account controls may be too “extreme” after personally being blocked from sending US dollar funds abroad because he was too old.Yu Yongding, a senior research fellow at the Chinese Academy of Social Sciences, a state-owned think tank, told a financial forum in Beijing on Wednesday that he recently tried to exchange yuan to the value of US$20,000 at a bank and transfer the money out of China to pay for a trip to visit…

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By | 2019-05-29T10:56:39+00:00 May 29th, 2019|Business|Comments Off on China’s capital outflow controls have gone to the ‘extreme’, former central bank adviser says