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As the WSJ reported, China is set to clamp down with tighter controls on Chinese companies seeking to invest overseas, confirming what we had observed since the start of the year in "intensifying efforts to slow a surge in capital fleeing offshore amid tepid growth and an uncertain economic outlook." Having launched various capital controls last September (noted here, when we correctly predicted that bitcoin would be the biggest beneficiary of Beijing efforts to stem the outflow of Chinese capital), the new measures are the first to go after big deals by China Inc.