New policy loosens capital outflow in China

China is going to begin to allow residents of a Shanghai free-trade zone to buy overseas assets directly. This may lead to loosen of capital outflow throughout China. Currently, Chinese buyers of Manhattan real estate need to do so through a company or by smuggling cash to Hong Kong.  In September, it was reported that $194 billion left the county. What do you think looser regulations if maintained will have on the New York City real estate market?

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