By Leo Zhang
China’s private wealth has been growing robustly and steadily in the past two decades with the country’s pioneering reform and opening-up policy, which helped a raft of self-employed individuals get richer through dealings with the outside world.
However, a tight regulatory grip on currency convertibility and capital accounts have long prevented free money flows across the border, a mechanism that hindered China’s real market overhauls, but also added into the nation’s stability amid global financial woes.
