PBOC’s Ma: New cash transaction rules are not capital controls - BBG

Bloomberg reports comments from the Chinese central bank (PBOC) researcher Ma, via the official Xinhua News Agency, citing that China’s new regulations on cash transactions and overseas transfers are not capital controls.

Ma Jun, chief economist of the central bank’s research bureau, noted,  “It is not capital control at all.”

Ma’s comments came after the PBOC stepped-up efforts to curb money laundering and prevent terrorism financing on Friday.