[chrischen]

What do you mean by “paying forex bill”?

It’s not just high level people moving capital our of China. It’s any well-to-do Chinese. Look at what happened to Vancouver. Basically a lot of people wanted to bring their cash out of China to avoid things like taxation, government crackdowns, etc. in general just protect their wealth because western governments are more predictable and friendlier to wealth inequalities.

But more importantly, all of that cash going to Canadian real estate and property owners is money taken out of the domestic Chinese economy.

[from]

> What do you mean by “paying forex bill”?

It allows capital flight to occur without draining the official central bank reserves of dollars.

> But more importantly, all of that cash going to Canadian real estate and property owners is money taken out of the domestic Chinese economy.

If you read the article it talks about how the money is used to buy goods in China that are then sent to Mexico so it's not a total loss.