China is grappling with the largest capital flight in years, raising concerns for authorities as Beijing exerts additional pressure on the yuan, which is already under strain due to a widening Sino-U.S. yield gap and mounting concerns about the Middle East crisis. Goldman Sachs’s preferred gauge of foreign exchange flows report published on Oct. 20 showed capital outflows from China surged to $75 billion in September, the highest monthly amount since 2016, compared to the $42 billion outflows in August. This increase occurred despite smaller outflows by the foreign portfolio investment channel, it added. “Foreign investors’ net selling of equities and bonds slowed, but the current account showed net outflows in September on the back of faster services trade outflows, lower goods trade related inflows and higher income and transfer outflows,” said the Goldman Sachs’s note accessed by The Epoch Times....Read more https://www.theepochtimes.com/china/chinas-worst-capital-outflow-in-years-exacerbates-yuan-woes-5515173