UnionPay, China’s biggest interbank payments platform, has barred its Chinese customers from using its transaction system to shop for property in Hong Kong, in the latest show of tightening capital controls on the mainland.
Any card with the UnionPay logo issued on the mainland will no longer be usable to put down a registration payment for Hong Kong apartments, according to several agents.
“We received guidance that holders of China-issued UnionPay cards can’t buy properties…
Source : South China Morning Post
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