How the Chinese Move Their Money Out of the Economy

[countryfree]

Surprising that they didn't mention the biggest, which is Chinese citizens going to Hong Kong, buying things with credit, then returning those things to the store for cash, which can be in any denomination. Then they take the cash to a HK bank, open an account, and badabing they have an overseas bank account.

That is kind of cumbersome, right? Plus when you deposit cash in a bank (especially large amounts), aren't questions asked?
This method (if it works) is also risky for stores because of the risk of chargebacks.

I can't believe this method is used on by many. Not many stores have a gentle "open arms" policy towards customers returning goods they don't want anymore. Especially when customers are not local, I mean Hong Kong shops accepting goods returned from people who do not live in Hong Kong.

[Nameless Coin]

Surprising that they didn't mention the biggest, which is Chinese citizens going to Hong Kong, buying things with credit, then returning those things to the store for cash, which can be in any denomination. Then they take the cash to a HK bank, open an account, and badabing they have an overseas bank account.

That is kind of cumbersome, right? Plus when you deposit cash in a bank (especially large amounts), aren't questions asked?
This method (if it works) is also risky for stores because of the risk of chargebacks.

I can't believe this method is used on by many. Not many stores have a gentle "open arms" policy towards customers returning goods they don't want anymore. Especially when customers are not local, I mean Hong Kong shops accepting goods returned from people who do not live in Hong Kong.

They use Bitcoin a lot and that is very good. We all hope that it will be more used all over the world. That will be nice.
But you dont know what is going to happen with the value and that is the problem. I hope that more people will use it....

[alyssa85]

What is this false info about bitcoin transaction fees? Bitcoin transaction is not based on value or amount of transferring money/BTC.
It maybe small but that is the way misconceptions are born.

They're quoting the fees on the exchanges to convert yuan to BTC, which is based on the value you are converting. It's got nothing to do with the fees to send BTC from the exchange to your wallet.