This question is especially relevant as China’s equity market continues to experience an unseasonably warm and mild autumn. Analysts say the cold weather has already helped Chinese stocks rise on hopes for the government to loosen rules governing share trades. But the government can never quite put a dollar figure on these potential gains that it’s so confident will take place.
But experts say these gains will be dwarfed by the gains from the rising number of foreign-domiciled Chinese stock owners. Many of them will start stashing their money overseas rather than hold it in the mainland, thanks to the lack of regulation for foreign stocks and the Chinese government’s efforts to restrict capital inflows into the financial system.
The latest figures from China’s State Administration of Foreign Exchange show that net transfers by China’s stock-owning households jumped to more than $46 billion in October, from $31 billion on the same period in 2015. Such foreign net transfers have more than tripled over a six-year period, though the recent uptick doesn’t mean they will soar to levels comparable to those seen in previous years. The pace of gains will depend on many factors, including whether foreign investors continue to pour money into the stock market, whether the rate of capital outflows continues to fall and the extent to which the country’s central bank can tighten controls on money exiting the stock market. While a few wealthy Chinese have already transferred most of their wealth to the U.S.-based offshore companies established to shield them from Chinese taxes, experts say most overseas investors are likely to do the same.
This story is based on a report by Bloomberg News on Nov. 17, 2014.
It’s time for the first annual Top Ten list of the coolest, best, and most fun places to hang out in New York City. Whether you’re a city girl looking for a night out with your friends, a business professional looking for a cool, casual environment with live music, or a family-friendly family with young kids looking for a place to play games and explore, here is a list of places that you’ll want to find every year. In the words of the famous New York City street artist, “The only thing that stops a bad guy with a gun is a good guy with a gun”
1. The W Hotel
The W Hotel has so much going for it that it’ll likely be the spot you’ll be hanging out at every summer night, no matter your nightlife or how much time you’d like to spend in New York
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