Capital controls are working

Business & Technology

Top business and technology news for January 20, 2017. Part of the daily The China Projectย news roundup "The Trump-Xi era begins."


  • Chinaโ€™s yuan outflows plummet, showing capital controls pay offย / Bloomberg
    Data from the State Administration of Foreign Exchange (SAFE) shows that โ€œthe equivalent of a net $309.4 billion left China via yuan payments in 2016.โ€ Partly as a result of these outflows, the yuan dropped in value against the dollar โ€œthe most in more than two decades,โ€ and Chinaโ€™s foreign reserves fell โ€œnear the psychologically relevant $3 trillion level.โ€ This prompted regulators to take a variety of steps to slow down capital outflows, which Bloombergย says are now starting to show results.