in HK?
See my signature.
Topic: China bank deposits....what about Hong Kong? (Read 1438 times)
BTC's location in the Shanghai FTZ does make it interesting because I think the foreign currency controls are not supposed to apply there. So the real question is what rules apply in the FTZ?
*edit* did some digging - transfers between domestic accounts and FTZ accounts will be treated as cross border transactions so no opportunity for regulatory arbitrage.
http://news.xinhuanet.com/english/business/2013-12/03/c_132936829.htm
*edit* did some digging - transfers between domestic accounts and FTZ accounts will be treated as cross border transactions so no opportunity for regulatory arbitrage.
http://news.xinhuanet.com/english/business/2013-12/03/c_132936829.htm
Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent
maybe we can use an exchange in Tibet
Again, ask the Chinese first
Just saw some news overnight - "Taiwan competitors aim to capitalize on Bitcoin ban in China" - China Post
http://dlvr.it/4bVJhg
Bring it on Taiwan!
Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent
maybe we can use an exchange in Tibet
Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent
Better yet, ask Taiwan with China in the room.
Hong Kong is an independent country like Taiwan
We are opening a can of worms here ..... ask China whether they think Taiwan is independent
Hong Kong is an independent country like Taiwan
It is a Special Administrative Region of the People's Republic of China.
http://en.m.wikipedia.org/wiki/Special_administrative_region
Hong Kong is an independent country like Taiwan
HK is china's bitch. No one is deluded enough to think something this big could remain independent.
"Hong Kong is treated as a foreign country.
Capital controls on sending funds to Hong Kong are effectively the same for ordinary mainlanders as sending the money direct to the USA. "
Self-explanatory to the extreme.
HK is china's bitch. No one is deluded enough to think something this big could remain independent.
I don't know the answer on this personally but if it's something that would work than surely these exchanges are going to look into that and set up shop in Hong Kong if that would solve their problems.
Clearly if HK is treated as a foreign country, then setting up shop in HK wouldn't be the answer, because of the currency controls in and out of China. The Chinese exchanges want(ed) mainland Chinese customers.
I don't know the answer on this personally but if it's something that would work than surely these exchanges are going to look into that and set up shop in Hong Kong if that would solve their problems.
Hong Kong is treated as a foreign country.
Capital controls on sending funds to Hong Kong are effectively the same for ordinary mainlanders as sending the money direct to the USA.
Capital controls on sending funds to Hong Kong are effectively the same for ordinary mainlanders as sending the money direct to the USA.
So.....the problem is that there are no ways to fund the exchanges on the mainland, what if you use a Hong Kong bank account or if BTCchina or OKcoin setup in HK? They can have an RMB denominated account which is available at most institutions and use that. Any problems here?
*Mainlanders sending RMB to HK
*Bank is located in HK
*Deposits/Withdrawals can be received and processed without being subject to the rules on the mainland.
*Mainlanders sending RMB to HK
*Bank is located in HK
*Deposits/Withdrawals can be received and processed without being subject to the rules on the mainland.
Try it and find out
So.....the problem is that there are no ways to fund the exchanges on the mainland, what if you use a Hong Kong bank account or if BTCchina or OKcoin setup in HK? They can have an RMB denominated account which is available at most institutions and use that. Any problems here?
*Mainlanders sending RMB to HK
*Bank is located in HK
*Deposits/Withdrawals can be received and processed without being subject to the rules on the mainland.
*Mainlanders sending RMB to HK
*Bank is located in HK
*Deposits/Withdrawals can be received and processed without being subject to the rules on the mainland.
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