The People’s Bank of China has imposed a limit on the amount of yuan that Chinese citizens and companies can remit outside the country to stem the currency’s slump. Photo: Bloomberg
update | China backflips on currency policy with controls to stem yuan’s outflow
Renminbi remittances by China-domiciled companies will be capped at 30 per cent of their equity
The People’s Bank of China has imposed a limit on the amount of yuan that Chinese citizens and companies can remit outside the country to stem the currency’s slump. Photo: Bloomberg
