“The price gap between bitcoins trading in Chinese yuan and those sold for other currencies has evaporated in recent days, highlighting the porous nature of China’s capital controls.  A key driver of the price gap was China’s capital controls, which make it difficult for speculators to swap yuan proceeds from the sale of high-priced Chinese bitcoins into dollars.  Analysts say the price convergence also reflects the rapid evolution of the bitcoin market, which began with technology enthusiasts but quickly expanded to include those with the financial know-how to evade China’s strict capital controls.”

http://www.reuters.com/article/2013/12/11/us-china-bitcoin-idUSBRE9BA0B020131211

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