2017/12, 21 March 2017
Recent news reports highlighting the closure of Forest City showrooms in China led to a flutter of speculation on the survival of Country Garden’s largest international mixed development project in Johor, Malaysia. In actual fact, restrictions on Chinese foreign currency exchange were announced in January 2017. The Xinhua news agency claims that these are not actually capital currency controls and Zhou Xiaochuan, China’s top central banker explained that these were targeted at ‘irrational investments’ in sports, entertainment and clubs that bring no benefit to China.
“Chinese Capital Controls and Forest City”, a Commentary by Serina Rahman
2017/12, 21 March 2017