CHINA-INTERNAL: ECONOMY-CAPITAL FLIGHT
China's hina's official foreign exchange reserves fell more than half a trillion dollars last year and are still falling, with a loss of nearly $46 billion in October alone. The International Institute of Finance think-tank estimates that outflows doubled in the September quarter to more than $200 billion. To stem the flows, Beijing has frozen or restricted its main schemes allowing wealthy individuals (QDLP) and financial institutions (QDII) to invest overseas, and lawyers have noted a sharp slowdown in the approval process for large overseas direct investment (ODI) deals. |