China Liberalizes Capital Account in Major Financial Opening

China Liberalizes Capital Account in Major Financial Opening
A bank employee uses a money counting machine to count out 100 yuan notes at a bank in Shanghai on Aug. 8, 2018. Johannes Eisele/AFP/Getty Images
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News Analysis
China’s State Administration of Foreign Exchange’s (SAFE) cancellation of the $300 billion cap on foreign investors buying domestic assets is a major financial liberalization move.