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Business Daily: China's Capital Flight

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12/02/2016 GMT

China's Capital Flight

BBC World Service - Business Daily, China's Capital Flight

How Chinese avoid controls and why it matters; plus a killing outside Ghana's goldmine.

How rich citizens avoid capital controls and why it matters for the Chinese economy. Also, why the killing of a Ghanaian goldmine official could impact the whole industry

We look at the latest concerns for China's currency, as billions of dollars-worth of yuan are being smuggled abroad every month, it's alleged. We find out how citizens manage to flout the currency controls, and what that means for the government's and central bank's efforts to stabilise and rebalance the economy. We get the thoughts of two locally based experts, Jonathan Ha, CEO of Shanghai-based market research firm Red Pulse, and Michael Pettis, professor of finance at the Guanghua School of Management at Peking University in Beijing. Also, we examine how the violent killing of an official at a mine in Ghana last week could have long-term consequences for the country's gold industry.

(Picture: Bank employee counts 100-yuan banknotes in Hangzhou, China; Credit: STR/AFP/Getty Images)

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