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

  • A net $900 million left in yuan payments in December: SAFE
  • Nation to add more curbs if exodus accelerates: Morgan Stanley
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Why Money Keeps Flowing Out of China

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.