北京严控民间资金外流 地下钱庄收费翻倍 A large amount of private capital in China has fled abroad, leading to an increase in the commissions charged by underground banks. According to people familiar with the matter, recently, the commission for transferring RMB to US dollars abroad through underground banks has reached 7%, which has doubled year-on-year.
They used to by mining it. The government has banned mining and transacting since, severely restricting access. Put it this way: if they can use bitcoin, they probably don't need bitcoin.
Can Chinese get money out via bitcoin? Great informative post
They used to by mining it. The government has banned mining and transacting since, severely restricting access. Put it this way: if they can use bitcoin, they probably don't need bitcoin.
https://www.bbc.com/news/technology-58678907
Many are likely moving cash out through trade, either leaving export earnings in offshore banks or creating fake transactions as cover.