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Take On China Inc. At Your Peril, page-169

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hotcoppa

669 Posts.

24

10/12/16

08:52

Post #: 21243707
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Originally posted by usc75 ↑

It doesn't make sense?

Have a re-read again.

Quote: "Mainland China-issued ATM cardholders will only be able to withdraw 5,000 patacas ($626) or HK$5,000 ($644) at a time, effective Friday, according to a government statement."

So, the Gov't's position hasn't altered...

Now read: "However, the daily limit on withdrawals remains the same at 10,000 yuan ($1,450). "

What does this mean? And in relation to 1st Para?

It's the Journalist's conclusion that needs to be queried...namely,

"That eased the concerns of investors, who had sold off casino shares after an earlier report in the South China Morning Post that officials were reducing the daily ceiling by half."

IMO, very confusing! But that's China and Chinese...

Expand

Yes very confusing.
Perhaps the withdrawal limit for a single transaction is $644 and daily limit is $1,450 which is the same as before but just can;t be achieved with one ATM visit.

CWN Price at posting: $11.40 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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