From the FT in mid-June: "China has approved record amounts of investment to flow out of the country through an official

scheme as authorities liberalise the local financial system against a backdrop of a rallying renminbi ... The move to allow

more capital to leave the country came as policymakers have increasingly voiced concerns over high asset prices, as well as

a rally in the currency. Due to strict controls on its capital account, China's vast household savings are primarily funnelled

into domestic markets.

1) Chinese savers are relatively trapped in mainland China - why might this matter for local asset

prices and why would the government care?

2) How would liberalizing Chinese cross-border capital outflows affect the renminbi (their currency)?

Given its recent movements (over the last year plus), why might the government be interested in

affecting the renminbi? Whom might subsequent moves benefit?