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المشهد العربي
China tightens policies to prevent brain drain
The Chinese authorities have announced a strict regulatory framework for border control, granting government institutions broad legal powers to prevent individuals from leaving the country. This measure aims to curb the outflow of capital and human talent, which are considered essential for supporting innovation and enhancing economic competitiveness with the United States. The new legislation, which has now come into effect, allows for the prohibition of citizens' travel in cases where violations related to export controls or technology transfer that threaten national security are detected. These measures are putting pressure on wealthy individuals and financial institutions supporting them, particularly concerning money transfers and the relocation of families abroad. They are also impacting bankers involved in wealth management, as well as immigration and visa agencies.
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