Chinese capital flowing overseas

Wenzhou is staying in the news.
Chinese Investing Overseas Gets Easier

The eastern Chinese city of Wenzhou, in a pilot program, will let residents invest directly overseas, a small liberalization step that is part of a wider effort by China to reduce controls on its currency that could take some pressure off the yuan to rise.

Wenzhou residents will be allowed to invest up to $200 million a year, though investment in a single project can't exceed $3 million, according to a statement posted on the website of the Wenzhou Foreign Trade and Economic Cooperation Bureau.

Residents aren't allowed to invest in overseas property or equities markets under the trial, the bureau added.