"According to government regulations, a Chinese citizen can send only about $50,000 a year out of the mainland. But on Friday, reports swirled about how much money was being funneled out using the Youhuitong service, which CCTV said the bank was operating secretly, with estimates at 10 billion renminbi, $1.6 billion, and even 20 billion renminbi."
"According to government regulations, a Chinese citizen can send only about $50,000 a year out of the mainland. But on Friday, reports swirled about how much money was being funneled out using the Youhuitong service, which CCTV said the bank was operating secretly, with estimates at 10 billion renminbi, $1.6 billion, and even 20 billion renminbi."
http://www.nytimes.com/2014/07/12/business/international/chinas-central-bank-investigating-report-of-money-laundering.html?ref=international
What? They can take only $50,000/yrs out of China?
Oh no...
Bye bye dreams of Coastal California!