Has China shut the money laundering pipe?

Monday, 28 July 2014

Apparently HSBC has shut off its Chinese yuan exchange service:

I can’t find any external corroboration of this, nor any new news about the money laundering scandal in China so any shift in the environment around Chinese money flowing into Australian real estate is best treated as apocryphal at this stage.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.