The South China Morning Post quoting unnamed sources saying the PBOC has relaxed its controls over yuan outflows

  • Beijing is seeing a smaller risk of capital exodus & greater market confidence in yuan
  • The People's Bank of China in early January required commercial banks to stop processing cross-border yuan payments unless the banks could show at the end of every month that the amount of outbound yuan matched the sum that came in, but that restriction was scrapped from last Wednesday, said mainland banking sources who were briefed on the policy change.
  • Banks can now freely process outbound yuan payment and remittance requests from their corporate and individual clients, a move that is expected to help boost liquidity in offshore yuan markets

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Earlier along these lines:

  • ICYMI: China Premier Li says market confidence in yuan has significantly strengthened