Thursday, Apr 25 2024 | Time 16:24 Hrs(IST)
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World


As art bonanza hits Hong Kong, China's capital controls loom large

By Farah Master and Venus Wu
HONG KONG, Mar 24 (Reuters) As visitors sip champagne at Hong Kong's Art Basel event this week and take selfies with replicas of deceased leaders Fidel Castro and Mao Zedong, a more urgent issue is rumbling through dealers exhibiting – how big an impact China's capital controls will be in the coming year.
Over the past six months, Chinese buyers have faced larger constraints to get money out of the country, as the government increases scrutiny on capital outflows and steps up measures to bolster its yuan currency.
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Former Malaysian PM Mahathir being probed over asset declaration issue

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