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Location : Wasted Space Job/hobbies : Cayman Islands Actuary
| Subject: Instead of wiring money, David is bringing Chinese cash in a suitcase to OZschwitz Sat Sep 30, 2017 12:03 am | |
| Shanghai restaurateur David Hu said he’s nervous about wiring money to Australia for a home purchase because of China’s crackdown on currency outflows. Instead, he plans to carry the cash in a suitcase.
The 61-year-old intended to move about $85,000 to Melbourne this month, the last part of his financing for a deal struck last year.
“Buying a property abroad was and is still workable,” said Hu, though he described the process as a “lot more troublesome” nowadays.
https://www.domain.com.au/news/chinese-money-seeps-through-the-cracks-into-the-world--and-australias--housing-markets-20170929-gyr3wf/
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