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China, Seeking to Stop Weakening of Currency, Issues Restrictions

By Tony Seruga

A small pool of offshore renminbi trades more freely in Hong Kong, above, than in mainland China. After a two-day rally, the offshore renminbi rose as much as 2.5 percent to 6.7853 against the dollar on Thursday, an exceptional gain for a currency that is usually subject to staid trading.CreditAnthony Wallace/Agence France-Presse — Getty Images

HONG KONG — Global markets spent most of 2016 adjusting to the reality of a slow but steady weakening of China’s currency.

Now, Beijing appears uncomfortable with that state of affairs.

Financial regulators in recent days have introduced new rules to curb the amount of capital flowing out of the country, helping to slow the pace of the renminbi’s decline…

China, Seeking to Stop Weakening of Currency, Issues Restrictions

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