China Puts “Mr. Chen” Out Of Business

China Puts “Mr. Chen” Out Of Business

Capital flight from China is a hot topic these days. Indeed, this week's overnight news feed was dominated by headlines out of China and Hong Kong, where money market rates (e.g. various tenors of HIBOR, depo rates, etc.) soared following reports that Beijing is set to implement a new set of measures designed to stanch the outbound flow. The market seemed to think that the new rules would somehow affect residents' conversion quotas. While increased scrutiny will undoubtedly help to discourag
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