Market Insights

Wealthy Families, Private Firms Moving Billions Out of China – NYT


Wealthy Chinese citizens have moved hundreds of billions of dollars out of the mainland this year by buying apartments overseas, plus stocks, insurance policies and gold, according to a report by the New York Times, which said the outbound shift of money indicated unease about China’s sputtering recovery after the Covid pandemic, as well as “fears about the direction of the economy” under Xi Jinping after this crackdowns on business and bolstering of the government.

An estimated $50 billion a month has been taken out of China in 2023 by Chinese households and private companies, but that did not pose an imminent risk to the country’s $17-trillion economy because exports of manufactured goods were still bringing in a steady stream of funds, the report said, noting that families were opening bank accounts in Hong Kong and wiring $30,000 to $50,000 into insurance products.

Read the full report: The NYT.




China Curbs Brokerage Accounts in Bid to Stop Capital Outflows


Typhoons, Landslides, Sandstorms Cost China $42bn This Year


Yuan Dives to Lowest Level in 16 Years as Recovery Wanes


China Limits Offshore Bond Purchases to Bolster the Yuan


China’s State Banks Seen Buying Yuan in Offshore Markets


Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.

Recent Posts

Bitcoin Hits $57k, Posts Two-Year High as Big Players Wade In

The leading crypto coin has gained 32% in value so far in February, still riding…

2 hours ago

China-Wary Investors ‘Icing on Cake’ For Japan’s Nikkei

Nikkei heavyweights with a significant presence in China have seen mega rallies, especially in the…

4 hours ago

Tougher Penalties in China for Firms Understating Emissions

Emissions data fraud has been a big problem for China's carbon trading scheme, but State…

4 hours ago

AI Model Boosts Scientists’ Nuclear Fusion Energy Dream – IS

An artificial intelligence (AI) trained on previous experiments has been able to predict instabilities in…

5 hours ago

Nikkei Flatlines After Record Push, AI Optimism Lifts Hang Seng

Tokyo’s benchmark hit another record before retreating while China stocks rode the AI wave to…

6 hours ago

Chinese Airlines Allowed to Lift US Flights to 50 a Week

Flights between China and the US were badly disrupted by the Covid pandemic, but the…

7 hours ago