China hot money is still flowing into real estate, in Canada, Ausralia and California

Go do a search.  This is the great unknown, why would they knowingly pay bubble prices in Canada?  I suspect a lot of Canadian buyers coming to the lower 49 are really stop over Chinese buyers.  The urge to get yuan out of China must be enormous.

The chart on the left, the red is total foreign reserves held by the Chinese banker, the blue is a close approximation to hot money leaving.

At some point, the outflow has to drop because their exports are diving, they are not earning foreign  money.  If they cannot earn yield from trade, soon, then they will have large scale bankruptcies in government and corporate firms.  They are Magic Walrus aggregated and so will sink or swim all at the same moment.

Do the Communists have a plan?

They are stuck.  They just created a half trillion in bailout debt, over one month, and a good part of that just becomes hot money exiting.  The communists will have to dis-aggregate, let freedom ring son, or go make a war.  Trade rebalances, the double entry accounting system keeps track.