Hundreds of suspected operators of underground banks have been arrested this year in a nationwide crackdown on the multibillion-yuan illegal cross-border money trade, China’s Ministry of Public Security said on Wednesday.
In all, 450 suspects from 192 illegal banks had been rounded up in relation to 200 billion yuan (HK$234 billion) in illicit transactions, the ministry’s newspaper, China Police Daily, reported.
The crackdown comes as the mainland faces strong capital outflow pressures, partly due to expectations of a weakening yuan. The country’s foreign exchange reserves have fallen by about US$450 billion in the last year despite signs of stabilisation in recent months.
Aristocrat Leisure Completes Acquisition of Neo Group Ltd. (f/k/a NeoGames)
for $29.50 per Share
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LUXEMBOURG, April 25, 2024 (GLOBE NEWSWIRE) -- Neo Group Ltd. (formerly
known as NeoGames S.A.) (Nasdaq: NGMS) (“Neo” or the “Company”), a
technology-dri...
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