Mobius says China’s government is preventing him from taking capital out of China | Forexlive

Mark Mobius is an emerging markets fund manager. He founded Mobius Capital Partners.

Mobius spoke on Fox (report comes via Reuters):

• “I have an account with HSBC in Shanghai. I can’t take my money out. The government is restricting flow of money out of the country,”
• “I can’t get an explanation of why they’re doing this … They’re putting all kinds of barriers. They don’t say: No, you can’t get your money out. But they say: give us all the records from 20 years of how you made this money … This is crazy.”

There is more at that link above.

I posted earlier on China’s disappointing GDP target for this year, saying it’s a negative for China and China proxy assets. So is this news, Big time.