Chinese Firms Are Using Hong Kong to Hide Capital Flows: ChartBy and
Unusual fluctuations in trade between Hong Kong and China are highlighting the city’s role as a conduit for illicit capital flows. China’s imports from the former British colony jumped 89 percent in February, raising concern companies are manipulating trade invoices to evade the nation’s strict capital controls as the yuan weakens. Exports to the city were inflated when the currency was strengthening, the Chinese government said in 2013.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.