China denies Mark Mobius' claims that its government is restricting capital flow

Chinese authorities person denied claims by billionaire capitalist Mark Mobius, who said helium is incapable to ligament funds retired of China owed to authorities restrictions connected superior flow.

Asked successful an interview with Fox Business past week astir whether he's reduced his vulnerability to China, Mobius said, "the authorities is restricting the travel of wealth retired of the country."

He warned investors of "all kinds of barriers" imposed by the government.

"I'm personally affected due to the fact that I person an relationship with HSBC successful Shanghai," helium told Fox Business. "I can't get my wealth out."

Officials astatine the State Administration connected Foreign Exchange (SAFE) told CNBC successful a connection that it's a substance of a "basic process and interior power requirements of the slope handling circumstantial business." They did not sanction HSBC.

"We person noticed that applicable marketplace participants person doubts astir the bank's handling of their idiosyncratic money remittance businesses," SAFE said successful its statement. "There is nary alteration successful the country's argumentation connected cross-border remittance of funds."

HSBC did not instantly respond to CNBC's petition for comment.

SAFE said it volition proceed guiding and urging commercialized banks to optimize cross-border fiscal services and amended their work levels.

Peter Alexander, managing manager of Z-Ben, a Shanghai-based concern absorption consulting firm, said helium did not brushwood problems successful cross-border superior flows retired of China.

"I spent this greeting speaking to a twelve clients each of whom confirmed to maine that determination are nary issues successful the operations of cross-border superior flows," helium wrote successful a LinkedIn post. "Business arsenic usual."

He said what Mobius is facing whitethorn beryllium a process that "any idiosyncratic looking to behaviour overseas transfers" goes through. He added that his concern has "never had a azygous issue" wiring wealth successful and retired of China.

"As for Mobius, good the contented raised is with his idiosyncratic slope account," Alexander wrote. He pointed retired that Mobius is "far from unsocial successful his frustration" arsenic different person experienced the aforesaid issues.

— CNBC's Iris Wang contributed to this report.