ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter

China risks capital slipping out bitcoin back door

HONG KONG -- With stocks plunging and the yuan weaker against the dollar, the Chinese economy may face yet another avenue for capital flight: the borderless digital currency bitcoin.

     The yuan hovered in the 1,400 range against the bitcoin around the start of 2015 on China's BTCC exchange for the cryptocurrency. But the redback began losing ground noticeably in the fall, weakening beyond 3,000 in December. A bitcoin now fetches just over 2,600 yuan.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more