Beijing may be ready to approve (after nixing it last year) a plan by the city of Wenzhou to...

|By:, SA News Editor

Beijing may be ready to approve (after nixing it last year) a plan by the city of Wenzhou to allow its residents to directly invest funds offshore. Such a move would be a significant step in opening up the country's capital account, currently tightly controlled by authorities to manage the yuan's value and prevent speculative flows. (previous)