China maintains a policy that every citizen is entitled to buy up to US$50,000 worth of foreign currencies every year. Photo: ReutersChina maintains a policy that every citizen is entitled to buy up to US$50,000 worth of foreign currencies every year. Photo: Reuters
China maintains a policy that every citizen is entitled to buy up to US$50,000 worth of foreign currencies every year. Photo: Reuters
Zhou Xin
Opinion

Opinion

Zhou Xin

China should seize the moment to free up controls on the yuan to expand its international use

  • The dangers of capital outflow have eased as China’s economy has recovered rapidly from the impact of the coronavirus pandemic
  • The yuan has become a safe bet for value due to a weaker US dollar, but Beijing still maintains tight control of capital flows

Zhou Xin
Zhou Xin

Updated: 10:18pm, 14 Sep, 2020

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China maintains a policy that every citizen is entitled to buy up to US$50,000 worth of foreign currencies every year. Photo: ReutersChina maintains a policy that every citizen is entitled to buy up to US$50,000 worth of foreign currencies every year. Photo: Reuters
China maintains a policy that every citizen is entitled to buy up to US$50,000 worth of foreign currencies every year. Photo: Reuters
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