Last month, Hong Kong introduced a stringent new security law known as “Article 23,” in a move that critics fear will erode the city’s status as a global financial hub.
Beijing aims to rectify its economic problems by diverting capital away from speculative industries such as real estate, and into much more productive industries.
On Christmas Day there was a court in Beijing Dongcheng which forcibly transferred funds from an individual’s digital yuan wallet. The case set a precedent in China.
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