China’s Yuan Outflows Plummet, Showing Capital Controls Pay Off

The flood of domestic currency out of China became more of a trickle last month, signaling that policy makers’ efforts to keep cash at home are taking effect.

An equivalent of a net $900 million worth of yuan left China via payments in December, State Administration of Foreign Exchange data showed Thursday. That’s less than 2 percent of the record amount in September, and compares with an average of $25.8 billion a month last year.