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Hong Kong residents transfer billions to Canada as China clamps down

China Hong Kong Canada city Ottawa
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Hong Kong last year after massive protests, residents of the city moved tens of billions of dollars across the globe to Canada, where thousands are hoping to forge a new future.Capital flows out of Hong Kong banks reaching Canada rose to their highest levels on record last year, with about C$43.6 billion in electronic funds transfers (EFT) recorded by FINTRAC, Canada’s anti-money laundering agency, which receives reports on transfers above C$10,000.

As Hong Kong cracks down on dual nationality, Ottawa warns: Tell them you’re Canadian The previously unreported outflows, the highest since 2012 when the earliest FINTRAC records are available, are the first evidence of a significant flight of capital overseas from the Asian financial hub.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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