China 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
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: 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
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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Zhou Xin

Zhou Xin

Zhou Xin co-leads the political economy team at the Post. He mainly covers economic stories but also writes about Chinese politics and diplomacy. He has previously worked for Reuters and Bloomberg in Beijing.