China's new border-control regulations are designed to keep two of its most valuable assets from leaving the country: money and talent. The rules , issued by the State Council and taking effect Tuesday, give authorities explicit legal power to block people from leaving the country – turning a patchwork of ad hoc travel bans into a permanent tool for stemming capital and talent flight. Authorities can bar Chinese nationals from departing over export-control or technology-transfer violations deemed to threaten national security. The new rules also add pressure on wealthy households already facing a widening tax dragnet, along with private bankers, trust companies, and immigration agencies that help move their money and families abroad.
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