by Dr. Li-Meng Yan, America Outloud:
The Political Bureau of the CCP Central Committee held a meeting on May 27 to review “Several Policies and Measures to Promote the Accelerated Rise of the Central Region in the New Era” and “Accountability Regulations on Preventing and Resolving Financial Risks (Trial).” General Secretary of the CCP Central Committee, Xi Jinping, presided over the meeting. (https://www.gov.cn/yaowen/liebiao/202405/content_6953803.htm)
According to official Xinhua News:
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“The meeting emphasized that CCP must earnestly implement the ‘Regulations,’ adhere to the word ‘strict,’ dare to be truthful and confront the tough, dare to be strict, and be really strict, send a strong signal that responsibilities must be questioned and accountability must be strict, and promote financial Supervision should be truly ‘thorny’ and sharp, establishing a strict tone, strict measures, and a strict atmosphere in the financial field and maintaining it for a long time.”
What does it mean to “adhere to the word ‘strict’” and “be truly ‘thorny’ and sharp”?
What financial and economic policies related to the meeting have been approved by Xi Jinping?
In this episode, based on classified information from our sources, I have revealed and briefly explained 9 of the 15 new policies targeting the domestic economy and the US dollar-dominant international monetary system.
1. Restore the system of mandatory selling of foreign currency to CCP’s banks.
2. Levy the tax duty on leaving China and capital gains tax, clean up, liquidate, and confiscate underground banks, and restore the death penalty for financial crimes.
3. Accelerate liquidating US dollar bonds outstanding at 40 billion to 60 billion per month and selling them at the size of hundreds of billions if necessary.
4. Withdraw PRC companies from US stock exchanges, followed by reflotation on the Hong Kong Exchange and the PRC’s A share exchanges.
5. Delay repaying outstanding debts of property development companies and other enterprises, disallow enterprises to repay overseas debts, coupled with the priority of repaying PRC banks’ loans and PRC enterprise debts.
6. Shut down PRC’s investment channels of investing in US markets of stocks and bonds, call back all the vehicles that have been issued for such purposes, and the government is set to compensate the principal loss, if any.
7. Confiscate US assets in PRC, including those of US governments, US companies, and US citizens’ investments.
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