This is not news.  Controlling Forex is necessary for countries whose economy and currency stability is propped up by foreign reserves.  China is no exception.  What is different is the increased degree of control.  This makes it harder for the average Joe to get Forex.  And will increase the amount of bribery needed to get hands on foreign currency.  In this way, the Chinese Communist government is like Wynne / Trudeau.  When the coffers dry up, make up some new rule to restrict access so people needing access have to seek alternative methods, like attending lavish dinner parties.