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China eases rules on moving assets overseas Hong Kong is expected to cash in after the mainland allows migrants to take their wealth with them.
(From South China Morning Post)
Byline: Elaine Chan and Gary Cheung
Migrating mainlanders will be allowed to transfer their assets overseas from next month, a move that could ease pressure on the yuan and allow people from the mainland to move to Hong Kong as investing migrants.
Also, foreigners and Chinese in Hong Kong and Macau will be allowed to transfer inheritances out of the mainland.
The rule changes were significant for "protecting individuals' rights of assets and promoting the progress of the full-convertibility of the yuan", China's central bank said last night, announcing the measures.
Under the regulations, only …
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