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

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

Topic |   People’s Bank of China

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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
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