Chinese Yuan bank notes are seen at a vendor's cashbox at a market in Beijing on April 10, 2013. (Reuters photo)SHANGHAI - China's central bank has relaxed some of its curbs on cross-border capital outflows put in place just months ago to shore up the yuan currency, banking sources said on Wednesday. With less incentive for capital flight and the economy on steadier footing, the country's foreign exchange reserves have clawed back above the closely watched $3-trillion level. The South China Morning Post first reported the relaxation of the capital controls earlier on Wednesday. The State Administration of Foreign Exchange (SAFE) did not have an immediate response to Reuters' questions on the SCMP report.

Source: Bangkok Post April 19, 2017 08:48 UTC