The Chinese government in general as do most governments worry about capital flight. When the masses get concerned about stability or the lack of opportunity, they often try to move their money off shore. Reasonable enough unless you're a government that loves to screw things up and live to discourage or prevent anyone from talking about it.
The Chinese have been flooding the U.S. and other so-called Western democracy with money for some time. Talk to your local realtor, especially if you live near the coasts. All cash deals from Chinese buyer are so common one might suggest they've propping up the real estate market and driving prices higher.
According to one story, the South China Morning Post recently noted that the daily restriction limit on withdrawals at local ATM's for one bank there was cut 50 percent. In short, they just limited how much a customer can withdraw from his or her account in any 24 hour period. Recall ATM daily withdrawal rates are already limited.
It should strike you that these banks don't impose in the main limits on how much you can deposit each day. This is about using your money and control. Capital flight can happen in more than one place. Just don't mention it in earshot of your local banker or those elected officials the bankers have bought off.
So it's not just an American thing. It's an endemic human thing. People want to control their own money, not some committee of government bureaucrats hundreds or thousands of miles removed. Snoozing creates its opposite, losing.
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