Chinese regulators tackle illegal capital flight

China's financial and securities watchdogs have launched a crackdown on the illegal flight of capital via offshore financing centers such as the British Virgin Islands and Cayman Islands, state press reported.

The central bank, the State Administration of Foreign Exchange, the China Banking Regulatory Commission and the China Securities Regulatory Commission, have banded together to tackle the issue, the 21st Century Business Herald reported.

A Ministry of Commerce report has led to tighter reg

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