How Chinese smuggle cash abroad to buy homes

Tuesday 3 November 2015

Have you ever wondered how the Chinese evade their currency controls – currently set at $50,000 per person a year – and then spend large on foreign homes, including in Australia?

Well, Bloomberg has provided the answers in a detailed expose explaining the many channels used by the Chinese to smuggle funds abroad. These include:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.