The ratio of yuan inflows to Hong Kong against outflows to the mainland had decreased to 0.8-to-1 as of the end of September, from 1.5-to-1 in the first half and 3-to-1 in 2010, he said, adding that the situation in October was almost the same.In a Chinese article on the topic, one reason given for selling of renminbi was fund managers going to cash in U.S. dollars. The article is overall optimistic and blames the dip in deposits and flows on short-term phenomena. I don't think the ongoing debt crisis is short-term though, so it could be a rough 2012 for the yuan.
2011-11-24
Chinese yuan now flowing out of Hong Kong
Offshore yuan market 'vibrant' despite slowing deposits
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