• Stamping out cryptocurrencies - The government has ordered all bitcoin/cryptocurrency exchanges in China to cease operations, and it was using electrical power control to close bitcoin mining operations.
• Suppression of underground banks - To prevent foreign exchange transactions by unauthorized entities abroad, the government blacklisted 40 entities and apparently blocked access to their websites from inside China.
• Slowing capital outflow - The government targeted capital outflows by cracking down on underground money transfers and restricting large overseas mergers and acquisitions.
• Foreign bank access - However, one component of this effort involved a relaxation of regulations rather than a tightening up. In November 2017 China announced that it would soon allow foreign companies to own Chinese banks and investment firms. The cap on foreign investment in Chinese banks will be removed and foreign investors will be allowed to own 51% in financial institutions. Now, foreign banks which set up branches in China will be allowed to conduct business directly with Chinese in Chinese yuan...READ MORE
Wapack Labs has cataloged and reported on Chinese banking regulations in the past. An archive of related reporting can be found in the Red Sky Alliance portal.
