What does the cryptic crossword clue "Dictator's to limit wages and capital claimed by PRC (6)" mean?

The definition is "capital claimed by PRC". The wordplay uses a homophone (sounds like). sounds like TIE PAY(limit wages). PRC is the People’s Republic of China The answer is TAIPEI.

Dictator's to limit wages and capital claimed by PRC (6)

Times Cryptic #28696 | 13 Across | 2023-08-31 flower

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