Rules allow about $50K, but using underground banks, transfers using Hong Kong money changers, carrying cash over borders & "smurfing" means the rules are being circumvented

But Chinese Authorities are clamping down on cash leaving the country in the wake of huge capital outflows

Bloomberg have a huge piece up: Here's how the Chinese send billions abroad to buy homes

An interesting read while we wait for the day's market-focus event, the Melbourne Cup, errr, I mean the RBA thingy :-D

  • RBA Melbourne Cup Day monetary policy meeting preview

  • RBA Melbourne Cup Day monetary policy meeting preview - the tin hat version