From SCMP:
Bob Li, owner of an export-oriented leather bag maker in Jiaxing, Zhejiang province, feels that his “outbound” strategy has become a bitter pill to swallow after China’s crackdown on cash outflows dealt a heavy blow to the company’s overseas business plans.
Li’s business, Jiaxing Boya Leather Bag, was among the thousands of mainland firms that followed Beijing’s exhortations in the past few years to “go global” – but now they are getting hard hit by the central government’s exchange controls.
