[China] - AMDK billionaire says taking money out of China is "just amazing!"

[UltimaOnline]

'I can't get my money out': Billionaire investor Mark Mobius says China is restricting flows of capital out of the country​

"It's just amazing! They're putting all kinds of barriers," he said. "They don't say, 'No, you can't get your money out,' but they say, 'Give us all the records from 20 years of how you've made this money,' and so forth. It's crazy."

"I'm personally affected because I have an account with HSBC in Shanghai. I can't get my money out. The government is restricting the flow of money out of the country," Mobius said on Thursday on the Fox Business show "Mornings with Maria". "So I would be very, very careful investing in China," the founder of Mobius Capital Partners said.

https://markets.businessinsider.com...ting-outflows-markets-strategy-jinping-2023-3

 

[eatshitndie]

my friend’s money and assets in shanghai are also stuck. they wanted all records on how much he originally paid and deposited on investments and properties and yearly gains and appreciation he made thereafter for the past 20 years. then they told him he could only take out the original amount he brought over from u.s., but must prove with bank or wire transfer statements from 20 years ago. after providing all documentation they say approval is not guaranteed and subjected to monetary and capital control updates which are always in flux. in other words, like in hotel californicate, you can check out all you wish but you(r money) can never leave.

 

[aerobwala]

So they are saying all the past capital verification report and audited financial statements are historical documents and irrelevant

 

[winnipegjets]

So, keep the money there and let it grow to billions. When pessimism prevails, buy more. The Ah Neh fever will die eventually.