# China policy

China Tightens Controls at Home as Offshore Renminbi Surges: Real‑name Rules for Gold Recycling and a 600‑point RMB Rally

Shanghai is considering mandatory real‑name checks for gold buybacks after a robbery‑to‑resale case exposed weak provenance controls, a move aimed at curbing theft and money‑laundering. At the same time the offshore renminbi has rallied more than 600 points in three days, reflecting improved sentiment, capital inflows and a managed tolerance in Beijing for modest yuan appreciation.