The consensus among observers seems to be yes. But the rapid fall in reserves serves as a warning sign that individuals and companies are still managing to get around regulations designed to prevent capital flight, analysts caution.

Much of the concern is focused on whether the central bank is still able to maintain its control of the stability of the exchange rate. Tim Condon, an analyst for ING Asia, said the current level of reserves, according to the IMF standard, still remains adequate. But he expects the situation to become more urgent if Chinese residents continue transferring their money overseas.

Currency Exchange - Airport or CWB - Hong Kong Forum - TripAdvisor

China may tighten capital controls as yuan outflow continues. Standard Chartered analysts also forecast that the erosion of reserves will prompt a more heavy-handed approach by the Chinese authorities to support the yuan and restrict residents from pulling money out of the country.

More liquidity tightening measures may be on the horizon, with the PBOC likely to raise domestic interest rates further. Skip to main content.

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