23 Hrs
Source:
الاقتصادية
China's rich move funds overseas
China faces strict restrictions on transferring capital abroad, with individuals only permitted to transfer up to $50,000 annually. There are various methods that wealthy individuals use to circumvent these controls. These include smuggling cash, splitting transfers through personal accounts, using secretive banks, manipulating import transactions, and exploiting cryptocurrencies. Authorities are increasing their efforts to monitor cross-border fund movements and curb illegal activities related to money smuggling out of the country.
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