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China ‘stuck’ as rigid controls on capital outflows becoming harder to peel back

Summary:
[unable to retrieve full-text content]China’s onerous capital account controls were all too apparent for Oziter Mao during a recent trip to a state bank.“It was so troublesome to transfer just a few thousand yuan out of China to Australia,” complained the mainland resident, who is preparing to travel overseas. “You need to pay a three per cent ‘administrative fee’, and there are requirements for the documents.”The complaints from Mao are not uncommon for Chinese residents who want to make overseas payments. China’s foreign exchange…

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[unable to retrieve full-text content]
China’s onerous capital account controls were all too apparent for Oziter Mao during a recent trip to a state bank.“It was so troublesome to transfer just a few thousand yuan out of China to Australia,” complained the mainland resident, who is preparing to travel overseas. “You need to pay a three per cent ‘administrative fee’, and there are requirements for the documents.”The complaints from Mao are not uncommon for Chinese residents who want to make overseas payments. China’s foreign exchange…

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