Why China’s tighter grip on outbound capital may test Hong Kong’s housing rebound
The debate follows a series of measures unveiled in recent weeks, including tighter scrutiny of unauthorised offshore brokers and guidelines issued to crack down on illegal cross-border fund-transfer channels.
Contrary to what some hoped, the Chinese exchange control policy is not losening. Therefore, Swiss banks, among other recipients, must strictly comply with it before accepting deposits from China by runing a China-specific due diligence.