UnionPay has banned customers from using its cards to buy investment-related insurance products in Hong Kong, the latest attempt by Beijing to stem capital outflows. Photo: Reuters
Laura He
Opinion

Opinion

Across The Border by Laura He

Beijing’s latest crackdown on capital outflows may just make things worse

Analysts say the new curbs on buying insurance products in Hong Kong could prompt mainlanders to seek out unregulated channels to transfer their cash abroad

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UnionPay has banned customers from using its cards to buy investment-related insurance products in Hong Kong, the latest attempt by Beijing to stem capital outflows. Photo: Reuters
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