Chinese government warns bank execs: Control risks, restrict capital outflow ... or else

I'm doing a catch up on the China news, expect a few pieces in coming minutes.

I've been on the back foot ever since the API data today, so here goes

Via Bloomberg:

China's government is ... warning bank executives that their jobs are on the line unless they control risks and putting restrictions on an increasingly popular way of evading capital controls

SAFE is imposing restrictions on buying insurance products overseas say "people with knowledge of the matter"

• Purchases of insurance products overseas using UnionPay debit and credit cards will be capped at $5,000 per transaction effective February 4
• Purchases through China UnionPay Co. cards have been exempt from capital controls

"They are obviously trying to escape the impact of the yuan's depreciation and evade capital controls in China," Chen Xingyu, a Shanghai-based analyst at Phillip Securities Research, said before Bloomberg News reported on the restrictions.

The Bloomberg piece also has a lits of other measures taken recently by Chinese regulators