sources close to 'the rumour mill' has it that the SAFE ( State Administration of Foreign Exchange) is circulating an internal memo that has the effect of requesting its staff monitoring cross-border banking transactions with a new regime. one line reads "all transactions to the equivalent of USD 10,000 to a foreign bank account will be subjected to a new regime." in chinese it reads in part "對個人購滙交易提高警惕,必要時拒絕購滙申請。" i guess, the authority is building a wall to protect the rmb from the barbarian (chinese nationals) within. :-) so it is advisable to think of bringing forward any move, just in case the banks jumps before the bang. hahahahah

Sadly, social engineering does/did work in china. At the dawn of the history of the 'communist' republic, great efforts in propaganda had been put to educate the public into valuing the Nation's property above individual life,eg, Lei Feng (雷锋), the make-believe national hero had steered the national psychic to that end, the current phenomenon is just an extension with a slight change of traits - valuing one's property above life, in my humble opinion. :-(

@Alien: if one reads one's vehicle compulsory third party insurance policy, one would find that the maximum insurance death and disability cover is 110,000 as per the State Council. that is the maximum if the victim can proof no fault. the maximum for no fault compensation claim is 11,000. when the victims family is financially and emotionally stressed, the chance of falling victim to 'suggestions' of fast/discounted payout is high. remember that dead man/woman cant talk so there are a lot of cracks there. plus the supreme court in china directs that the formulae for calculating compensation is, 20 years of the average local income of the victims. that is why causing death is cheaper. :-(

in china, most fatal traffic accidents where the victims usually are the poors, are settled extrajudicial on the local police command level. so well connected people together with the police can manipulate the poorly informed. rmb 350k payout makes the news for sure, victims family get much less does not. that is the sad fact.

chinese are practical and effecient. if person you just run over is dead, you pay one funeral expenses and one lot of payment to the family only once. the payment is scale to the victims earning potential, so farmers and factory worker on foot are worthless creatures. however, medical expenses is long term and is not scale the same way thus unknown. that is why the general practice of the good chinese flash car drivers will do to limit their liability. that is the new tradition. so dont argue. that is the way we do things here. wait till i run over you with my tank, i dont even have to back up over you twice to be sure to be sure. actually, many people believe runing over people with tanks has made the economy prosperous. so...... hahhahahhaah