New low: The yuan has slumped more than 5% this year both onshore and offshore, marking the worst performance in emerging Asia after Malaysia’s ringgit. — Reuters
BEIJING: China is witnessing the biggest flight of capital in years, creating concern for authorities as it worsens pressure on the beleaguered yuan.
The currency has been hammered from all fronts as money leaves its financial markets, global companies look for China alternatives and a revival in overseas travel hits services trade.
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