However, the bank said on Monday that House of Fraser had pulled its funding due to “uncertainty about whether China’s State Administration of Foreign Exchange would approve the transaction”. House of Fraser invested £6m of a planned £35m at the end of last year. But China subsequently imposed restrictions on outbound foreign investment in an attempt to curb capital outflows, which are exerting downward pressure on the renminbi.

https://www.ft.com/content/b1499004-0d7f-11e7-b030-768954394623