The logo of Chinese bank card operator UnionPay is seen at a cashier at a shopping mall in Shanxi province as Beijing’s tightening of capital controls is seen harmful to Hong Kong’s financial sector. Photo: Reuters
The logo of Chinese bank card operator UnionPay is seen at a cashier at a shopping mall in Shanxi province as Beijing’s tightening of capital controls is seen harmful to Hong Kong’s financial sector. Photo: Reuters
Enoch Yiu
Opinion

Opinion

Across The Border by Enoch Yiu

Beijing’s tightening of capital controls set to hurt Hong Kong’s financial sector

Beijing wants to plug loophole for hot money outflows given the depreciation of the yuan

The logo of Chinese bank card operator UnionPay is seen at a cashier at a shopping mall in Shanxi province as Beijing’s tightening of capital controls is seen harmful to Hong Kong’s financial sector. Photo: Reuters
The logo of Chinese bank card operator UnionPay is seen at a cashier at a shopping mall in Shanxi province as Beijing’s tightening of capital controls is seen harmful to Hong Kong’s financial sector. Photo: Reuters
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