China Securities Times reports on PBOC calls to control capital outflows

MNI have a useful piece from China's Securities Times on People’s Bank of China calls to restrict capital outflows

• Some local branches of the PBOC have called on commercial banks (including foreign banks) to strictly control the upper limit of net capital outflows
• & to not allow the outstanding value of net capital outflows to be more than zero at any time
• Aimed at avoiding large capital outflows, which could result in cross-border arbitrage
• To tighten liquidity in the offshore yuan market, to counter overseas short-sellers

The Securities Times citing bank sources