China eases capital outflow restrictions

Analysts believe that last Tuesday's move to allow mainland individuals to transfer assets outside the country from December onwards, and a proposal to allow insurance companies to invest overseas, will increase volumes.

The People's Bank of China said that mainland individuals will be able to transfer assets worth 200,000 yuan (US$2,415) or less at any one time. Assets worth more than that would have to be taken out in stages, with the first stage being no more than half of the individual a