"China has stepped up efforts in recent weeks to shore up the yuan and curb capital outflows, sparking speculation it wants a firm grip on the currency ahead of Trump's inauguration on January 20 and the long Lunar New Year holidays at the end of the month.
It has tightened restrictions on individuals and companies who want to move funds out of the country, while denying it is imposing fresh capital controls. This week the central bank has also set higher daily guidance rates for the yuan, hiking it the most in a decade on Friday."
"The PBOC also raised reporting requirements for overseas transfers last Friday. Reporting threshold for cash and overseas transfers cut to 50,000 yuan from 200,000 yuan."
Article dated 7/1/17. Meanwhile the SP has touched 8.4c today. Doesn't look like the chart's turning around anytime soon
XPD Price at posting:
8.8¢ Sentiment: Hold Disclosure: Held