China Unlimited

[RealDutch]

https://www.ft.com/content/50552fbe-f1b0-11e6-8758-6876151821a6

Liar!

In a rare media interview, Pan Gongsheng, head of the State Administration of Foreign Exchange and deputy governor of the People’s Bank of China, described the recent tightening primarily as an effort to close loopholes and improve enforcement of existing rules and root out fraud, not to abandon the general trend towards greater openness.

Liar!!

Mr Pan said recent measures to restrict capital outflows are primarily targeting suspicious or fraudulent transactions, as well as currency speculation. The “going out” policy of encouraging outbound investment by Chinese companies is crucial to fulfilling President Xi Jinping’s “One Belt One Road” policy