SHANGHAI :HSBC's China unit said on Tuesday it has not been told by regulators to restrict outbound remittances and was unaware of recent capital outflow curbs, after billionaire Mark Mobius, its client, said he could not take money out of the country.China's foreign exchange regulator also said on Monday the
SHANGHAI :HSBC's China unit said on Tuesday it has not been told by regulators to restrict outbound remittances and was unaware of recent capital outflow curbs, after billionaire Mark Mobius, its client, said he could not take money out of the country.
"We did not receive any requirements from the Chinese regulators to restrict outbound remittances, nor are we aware of any policy changes recently by the Chinese authorities with regards to cross-border capital outflows," an HSBC China spokesperson said via email. Mobius, founder of Mobius Capital Partners, told FOX Business last week that he faced all kinds of barriers in the process, including requirements to show records from 20 years of how he made the money.
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