China's Underground Bank Crackdown Risks Headaches in Hong Kong
- Remittance services are worried about tighter Chinese scrutiny
- Faster outflows to Hong Kong seen amid fears of clampdown
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Business is good, but Dickson Chan is worried.
The Hong Kong money changer saw remittances from mainland China increase by 10 percent to 20 percent last month from the end of 2016, yet he is not sure how long the operation can last. The company he works for, Professional Foreign Currency Exchange Ltd., helps clients move cash between China and Hong Kong with a bank account in each place by squaring opposing transactions.