China Merchants notified customers last week that new US dollar transfers would be suspended. Photo: Bloomberg
US dollar transfers cut back by Chinese bank as Beijing steps up scrutiny of capital outflows
- China Merchants Bank suspends programme that allowed customers to set up automatic transfers to overseas accounts in US dollars
- Beijing has tightened rules on overseas transfers by individuals in recent years to ensure control of capital outflows
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China economy
China Merchants notified customers last week that new US dollar transfers would be suspended. Photo: Bloomberg
US President Donald Trump (right) met with Nato secretary general Jens Stoltenberg in London. Photo: AP
Donald Trump: ‘no deadline’ for trade war deal with China, may come after US election
- US President Donald Trump, in London ahead of a meeting of Nato leaders, said it is up to him to decide whether to make a deal with China
- He had already said that the Hong Kong Human Rights and Democracy Act, which he signed last week, may hamper his chances of securing a trade deal with China
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Donald Trump
US President Donald Trump (right) met with Nato secretary general Jens Stoltenberg in London. Photo: AP