Money Is Leaving China At A Record Rate

China is expected to issue a digital version of its yuan currency. Photo: AFP / Fred Dufour

CNN: Money has been leaving China at a record rate. Beijing is battling to stem the tide

Hong Kong (CNN Business)Beijing is stepping up the battle to stop money flowing out of China as the country contends with economic woes and trade war tensions that have eased but show no sign of ending altogether.

Money was leaving the country at a record clip earlier this year through unauthorized channels, according to analysts. That's bad news for China, which needs to keep financial reserves high to maintain confidence in its markets.

Now Chinese officials are trying harder than ever to avoid a repeat of the financial scare four years ago that sapped its money reserves by hundreds of billions of dollars.

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WNU Editor: This is not stopping China in its attempts to make the yuan a global currency .... China pushes ahead with making yuan a global currency (Asia Times).