Capital Flight: Money Leaving China at Record Rate

by Mike ‘Mish’ Shedlock
Mish Talk

China is fighting “abnormal” cash flows. It’s not surprising in the least.

Record Capital Flight

Please consider Money has been leaving China at a record rate. Beijing is battling to stem the tide

Money was leaving the country at a record clip earlier this year through unauthorized channels, according to analysts. That’s bad news for China, which needs to keep financial reserves high to maintain confidence in its markets.

The State Administration of Foreign Exchange, a key government regulator, said Sunday that its most important job next year is to prevent major financial risks, avoid “abnormal” capital flows across its borders and crack down on illegal trading activities.

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