Even as authorities vigilantly tighten capital controls for capital outflow pressure, people are getting cleverer and finding new approach to transfer their asset out of China. When ways like buying large amounts of insurance in Hong Kong and exchanging through transnational companies fail to meet the domestic demand, some people began to focus their ambition on bitcoin. To a certain extent, great demand for foreign currency purchase may be a trigger to push up the price of bitcoin, and bitcoin’s perform in turn strengthen the confidence of those in need of foreign currency. CNY used for bitcoin trading can circumvent scrutiny with much convenience, and at the same time fund security is ensured. As Tencent Finance commented
http://news.8btc.com/tencent-disclose-bitcoin-used-to-transfer-cny-oversea
