China capital outflow-SAFE limits yuan cash withdrawals at overseas ATMs

Author: Eamonn Sheridan | Category: Central Banks

MNI reports on the latest from SAFE (State Administration of Foreign Exchange:

  • Putting a cap on annual cash withdrawals, of CNY100,000 for Chinese citizens using bank cards at overseas ATMs
  • (The current limit is CNY10,000 daily, but no annual limit)
  • China is facing pressure from capital outflows
  • The SAFE has called on banks to step up checks to limit outflows but cash withdrawals at overseas ATMs create a loophole for people to move money overseas


By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose