China’s Worst Capital Outflow in Years Spells More Yuan Pressure

(Bloomberg) — China is witnessing the biggest flight of capital in years, creating concern for authorities as it worsens pressure on the beleaguered yuan.

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The currency has been hammered from all fronts as money leaves its financial markets, global companies look for China alternatives and a revival in overseas travel hits services trade. All of this is captured in the latest official data, which shows an outflow of $49 billion in the capital account last month, the…

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