CHINA TOPIX

China Crackdown on Capital Flow, Yields $148-B in Illegal Trade

S. Rina   |

Oct 21, 2016 10:16 PM EDT

China's war against underground banking and capital flow yielded solid results as the country uncovered $148 billion worth of illegal trades. The investigations are carried out by the State Administration of Foreign Exchange (SAFE) and are focused on capital outflows and foreign exchange transactions. The drive has already cracked 56 cases of illegal foreign exchange transactions this year so far.