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An another important press conference by SAFE on cross-border flows to share with our foreign readers.
The main officials attending this press conference from SAFE is Mr. 4,282 more words
China has issued new restrictions on citizens buying insurance in Hong Kong, the latest move to stem capital outflow and keep the renminbi strong. Hong Kong insurers can no longer accept UnionPay, the massive Chinese state bank-card payment system that every Chinese credit or bank card runs on, insurers told Quartz… 536 more words
China is heading for further financial chaos. In the near future the yuan could lose a third of its value against the dollar, the government would need to print more than $10 trillion to keep banks liquid, and financial institutions are set lose trillions of dollars in equity value. 388 more words