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Hong Kong residents transfer billions to Canada as China clamps down
Hong Kong last year after massive protests, residents of the city moved tens of billions of dollars across the globe to Canada, where thousands are hoping to forge a new future.Capital flows out of Hong Kong banks reaching Canada rose to their highest levels on record last year, with about C$43.6 billion in electronic funds transfers (EFT) recorded by FINTRAC, Canada’s anti-money laundering agency, which receives reports on transfers above C$10,000.