China has stepped up capital controls as the trade war escalates. Photo: Kyodo

Why is US dollar access so restrained in China as trade war rages on?

  • Foreign financial institutions increasingly reluctant to lend US dollars to Chinese banks given worries about financial risks amid the trade war
  • China holding onto US dollars by increasingly restricting business and individual transfers out of the country
Topic |   China economy

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China has stepped up capital controls as the trade war escalates. Photo: Kyodo
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Karen Yeung

Karen Yeung

Karen Yeung joined the Post in 2017 after more than 15 years' experience on global newswires in Hong Kong and Shanghai. She spent eight years in Shanghai and has received awards for best feature, analysis and agenda-setting.