The announcement suggests that there is unlikely to be any relaxation in China’s draconian capital account controls, even though the yuan has strengthened to a two-year high against the US dollar.

From January 1, account holders can withdraw a maximum of 100,000 yuan (US$15,000) a year in total overseas from their Chinese bank accounts, rather than the previous 100,000 yuan allowable from each account.

In China, each person can change up to US$50,000 in foreign currencies a year, with any amount beyond that requiring special permission.

The Chinese government also bans mainland residents from buying overseas securities or properties directly apart from via designated channels such as the Hong Kong-Shanghai stock link, forcing many residents to turn to money brokers, or underground banks, to send funds abroad.

More f*cking foreign locust bullshite

China is approx. 5,000 years old.

…the sino bullshite goes back to the dinosaurs

what is the over/under on how many weeks/months it will be before New Coast owner Ze Yu Wu loots the co’s trust account and flees the country?

“Mr. Bonney enthusiastically went to work on this plan, much of which was expressly designed to promote only Liberal party interests, while he was being paid from the public purse,” said Judge David St. Pierre in passing sentence. “He simply believed that the Liberal party with their ‘free-enterprise’ agenda was the only party that could effectively govern and that essentially, the ends justified the clandestine, partial and dishonest means he was engaged in.”