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China Bolsters Capital Controls Ahead of Trump Presidency

Nearly two years after encouraging Chinese companies to go on an acquisitions spree overseas, stirring global markets, Beijing is asking them now to pull back. For the first time, China is also tightening its scrutiny of bogus overseas fund transfers of its currency, the yuan, or RMB, to clamp down on what it calls “irrational” investments. Analysts have said the moves are, in part, contingencies against possible actions by U.S. President-elect Donald Trump, who has pledged to use...

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