#OpinionArticle #TangHao

Why does the Chinese Communist Party (CCP) accelerate launching digital Renminbi (RMB)?

Editor’s note: Below is a summary but very close to the script of the first part of the video which is about digital Renminbi.

(15 Aug) The Ministry of Commerce of the People's Republic of China had an announcement on 14 August about "Complete intensify trial locations for a new transaction service with innovative technology". 28 locations in China have been selected as trial locations to promote digital RMB. Besides the first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, sites include Yangtze River Delta Economic Zone, Guangdong-Hong Kong – Macao Greater Bay Area (GBA), Urumchi, Xian and Midwest Chinese cities, etc. In April this year, Chinese National media reported that the trial campaign of the digital RMB in a closed system has already been started in Shenzhen, Suzhou, Xiongan New Area and Chengdu. We have discussed that in our channel. Just less than four months till now, CCP can't wait anymore to extend the trial location to 28 places over China. CCP's reaction shows the urgency in launching digital RMB. We have many newly joined subscribers on this channel. Let's have a revision of some key points first.

1. Easy to manipulate the quantity of currency and stimulate the economy

2. Tracing in all dimensions results in surveillance civilians

3. Control capital movement and prevent capital outflow

4. Restructure economy with “waste banknotes”

5. Establish a new currency system to confront USD and avoid sanction

6. Expand the penetration internationally for the United Front and surveillance the world

Full Translation:
https://telegra.ph/Why-does-the-Chinese-Communist-Party-CCP-accelerate-launching-digital-Renminbi-RMB-08-30

Source: Tang Hao’s Crossroad of the World Youtube Channel
⬇️⬇️⬇️Watch
https://youtu.be/dylZZJJldaU
Translated by: Hong Kong Echo

Further reading:
China’s State-Run Banks Reportedly Testing Wallet for Digital Yuan
https://bit.ly/3jwlS30

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⭕️ Watch the special report on @EpochTV👉https://ept.ms/ChinaDigitalCurrency

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🔵 Now on @EpochTV 👇
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