Ever since the affordable housing component of the MacArthur Transit Village was completed, all eyes have been on the surrounding lots that are supposed to remake this former parking lot into a vibrant and welcoming mixed-use development.
The yuan began plummeting in August, driving the Chinese currency to a five-year low versus the U.S. dollar. The Chinese authorities have been compelled to increasingly tighten the noose on cross-border capital flows to defend the yuan and to slow down the burnout of the nation’s foreign-exchange reserves since then. This includes increasing scrutiny of transfers overseas, to closely check whether individuals send money abroad by breaking up foreign-currency purchases into smaller transactions.
Read more in the full article at SFGate.