Policy on capital harming Macau, researchers say

The central government’s relaxation of capital controls, including the Shanghai-Hong Kong Stock Connect scheme, is harmful to the economy of Macau, JL Warren Capital says. “Once a hub for capital flight out of mainland China, Macau continues to suffer from the anti-corruption movement which defines today’s new normal,” says a research note by JL Warren Capital. “Beijing’s gradual relaxation of capital controls, with measures such as opening the cross-boundary investment channel connecting Shanghai and Hong Kong (Shanghai-Hong Kong Stock Connect), is also hurting the island [sic].”