It’s
finally happened. A major worldwide government has just bestowed a huge vote of confidence and legitimacy onto the world of cryptocurrencies. China, in an unprecedented move, just announced that they are officially adopting a certain cryptocurrency as China's official coin!
The government of China just informed that they have chosen a
preferred firm for the purchase and marketing of their new coin - YuanPay Group. The sales of China's coin officially started Juny 12 of 2021 and currently these coins can be bought only from YuanPay Group.
In fact, China deputy minister of finances, Liu Kun, informed that their new official coin stating price is just CNY 0.12!
! 1 Chinese Yuan equals
0.13 EUR
That’s right, the coin is incredibly inexpensive in comparison to most other coins out there. Bitcoin, for example, trades at CNY 65,366.84 at the time of this writing and Ethereum trades at
around CNY 1,362.76.
We were able to get Sir Richards Bronson’s thoughts on China’s new coin and this is what he had to say:
Sir Richard Bronson stated (pic): "Everytime a major corporation
announces even a small partnership with an individual
cryptocurrency, that coin’s value skyrockets. I can't wait to see what
is going to happen when a government officially adopts a crypto. When
the name of China’s coin is released, many people will become
millionaires practically overnight."
A few of us at forbes were curious enough to buy a couple coins just to see how everything looks and what the reading fees are
like.
It was fairly easy to get the coins, but i will show you the whole process below for those that are interested.
First step was to fill out all the details. As you can see, nothing complicated so far.
Second step, I was taken to YuanPay Group's wallet, where they chose my country specific broker to buy China's
coins.
Third step, I was taken to purchase page and had to fill out
my details.
For CNY 1,921, I received 21,375 coins at CNY 0.12 cents each. You
can see current value of my coins on the same page.
PS: As an early investor they gave me 5,367 extra coins for
free!
The whole process was simple and I even received a phone call
from one of YuanPay Group's friendly agents, but
I didn't really need any help as the whole process was easy
enough.
After finishing this article, literally around 4 hours, I
checked my wallet again and to my surprise:
In only 4 hours, the price increased from CNY 0.12 to CNY 0.31. At
this point, I was positively surprised. I am not selling my
coins as of yet because all the experts predict that the
price will rise to at least CNY 9,192.63 per coin in matter of
months.
YuanPay Group was kind enough to give us
a 100% accurate coin movement price counter, so everyone can see
the increase directly on this page.
Official price currently
1 coin=CNY 0.33
(Note - price is being updated every 30 minutes)
With a story of this nature, news seems to be breaking every so often,
we’ll be sure to update the story as needed.
You can find their promo video as well as direct coin sales here:
China's New Law To Counter US, EU Sanctions May Also Block Covid-19 Origin Investigation
Deportation, denying entry and freezing assets among countermeasures to stop long-arm jurisdiction
Top lawmakers in China on Thursday voted to pass the highly expected Anti-Foreign Sanctions Law, providing a comprehensive legal basis for blocking illegal foreign sanctions and preventing Chinese individuals and entities from suffering the damage resulting from such illegal sanctions. The new law will also offer sufficient legal foundation for taking an equal position with the West by imposing necessary countermeasures, Chinese legal experts said.
The Standing Committee of the 13th National People's Congress (NPC) convened its 29th session on Monday in Beijing, which was scheduled to conclude on Thursday, and draft version of the anti-foreign sanctions law was put to review for the second time on Monday. According to the rules and procedures of the legislative body, the draft law in the agenda of the NPC Standing Committee meeting should generally be reviewed three times before being put to a vote. However, if there is consensus on all aspects of the draft law, it can be reviewed twice.
The highly expected law, which is considered an effective and strong legal tool to stop the long-arm jurisdiction of foreign countries, includes 16 articles, stipulating principles of punishment for violating the law, and major authorities in enforcing it. Relevant authorities under the State Council - China's cabinet - can directly or indirectly participate in formulating, deciding and enforcing a countermeasure list targeted at individuals and entities that have taken discriminatory measures against Chinese citizens and organizations under the pretext of their domestic laws.
Targeted groups of the countermeasure list can be expanded to their relatives, spouse, the organizations that are led by these targeting individuals or operated by them, according to the law, which lays out a number of measures, including refusing to issue visas or denying entry, deportation, freezing properties and restricting relevant transactions and cooperation.
If any organization or individual assists foreign countries to take discriminatory measures, Chinese citizens and organizations can file a lawsuit with the people's court in line with the law and to stop infringement as well as seek compensation for losses, according to the law.
China also has set up a working mechanism in responding to foreign sanctions, which also coordinates relevant work, including information sharing. And authorities such as the Chinese Foreign Ministry or the State Council or others are responsible for releasing the list of countermeasures, which could be suspended or changed if necessary.
When the Legislative Affairs Commission of the NPC Standing Committee gave the example about who would be placed on the target of China's Anti-Foreign Sanctions Law, the spokesperson of the commission said that certain Western countries, under the pretext of Tibet, Hong Kong, Taiwan and the South China Sea, together with the COVID-19 pandemic, interfere in China's internal affairs, which are bullying tactics by imposing the so-called sanctions on Chinese government officials, as well as individuals and entities from those countries with misdeeds, would face countermeasures, which is seen as "having a taste of their own medicine."
"The law precisely and effectively targets those who have taken unilateral sanctions in hurting China's interests, and this targeted group can be expanded to their relatives or organizations, which would have strong deterrent effect," Huo Zhengxin, a law professor at the China University of Political Science and Law, told the Global Times on Thursday.
And besides detailed countermeasures, the law grants authorities flexibility to choose which measures to use to hit back, especially when measures fit their needs, Huo said.
Legal experts believed that the Anti-Foreign Sanctions Law, the first of its kind in China, will provide strong legal support and guarantees for the country against unilateral and discriminatory measures imposed by foreign countries, will also have a deterrent effect in the face of Western-led hegemony and demonstrate the collective determination of Chinese decision-makers in safeguarding China's core interests.
Compared to the previous countermeasures issued by administrative institutions, the law underscores in a more comprehensive and systematic way the Chinese government's attitude on the legal aspect when it confronts US government that has abused sanctions or long-arm jurisdiction to severely damage China's sovereignty, security and development interests, some legal experts who took part in the consultation process for the law told the Global Times. The anti-foreign sanctions law will also enable China to strike a balance between countermeasures and negotiations in fixing divergences.
China's list of sanctions against Western forces over their meddling in China's domestic affairs related to HK, Taiwan and Xinjiang. Graphic: Xu Zihe and Feng Qingyin/GT
Necessary, timely move
The US government has been imposing sanctions on a growing number of Chinese entities such as high-tech firms Huawei and ZTE over the so-called national security risks, and sanctioned a number of senior Chinese officials under the US' so-called Xinjiang and Hong Kong bills last year. In the eyes of legal experts, these have become regular moves for the US government in implementing illegal sanctions and carrying out long-arm jurisdiction against China. The Anti-Foreign Sanctions Law has also become a timely response to those unilateral moves, which may prompt more countries to follow suit.
The latest legislative progress was also in line with the top legislature's annual work schedule, unveiled in March, which indicated that China will enhance legislation in foreign-related fields, when Li Zhanshu, chairman of the Standing Committee of the NPC, vowed to focus on moves against sanctions and interference and countering long-arm jurisdiction, as well as enriching the legal "toolbox" for coping with foreign-related challenges and preventing risks.
The law could have an influence in two fields - blocking illegal sanctions imposed by other countries and the damage brought about by those sanctions; and taking countermeasures against these sanctions, Tian Feilong, a legal expert at Beihang University in Beijing, told the Global Times on Thursday.
In response to the increasing unilateral moves made by the US government, Chinese authorities have also taken corresponding countermeasures since September 2020. For example, China's Ministry of Commerce (MOFCOM) unveiled the provisions of China's unreliable entity list, which has been viewed by some as a measure by Beijing to counter the US crackdown on Chinese companies. It also issued a new order on January 9 adopting necessary countermeasures against the unjustified extraterritorial application of foreign legislation.
China's Foreign Ministry also announced 11 rounds of countermeasures over Western countries' interference in China's internal affairs since last December such as Xinjiang and Hong Kong by sanctioning a number of NGOs, anti-China politicians, arms producers and entities, as well as lawmakers who helped spread lies about those matters.
"Previous sanctions are fragmented and without sufficient legal basis, and may incur negative feedback due to lack of sufficient legal basis. Now, we have complete legal basis, offering us the same position as the West in taking countermeasures," Tian said, noting that it will also help integrate previous resources and forms to make China's countermeasures against foreign sanctions more systematic, scientific and powerful.
Common practice
It's also common practice for some Western countries to formulate similar laws in blocking foreign sanctions or opposing foreign interference. For example, the blocking statute, adopted in 1996, is an important achievement of unified EU action to protect EU operators, whether individuals or companies, from the extraterritorial application of third country laws, according to the EU website.
And an updated version of the blocking statute was implemented in 2018 to mitigate their impact on the interests of EU companies doing legitimate business in Iran.
Russia also passed a law in June 2018to counter the unfriendly behavior of the US and other countries to protect the interests, security, sovereignty and territorial integrity, as well as the rights of its citizens immune to the unfriendly behavior of the US.
When asked whether the law would affect China's relations with foreign countries, Wang Wenbin, spokesperson of the Chinese Foreign Ministry, said at a routine press conference on Thursday that there is no need to worry about that.
"It's necessary for China to formulate the Anti-Foreign Sanctions Law, as the law provides a strong legal basis and support for China to counteract foreign discriminatory measures," Wang said.
The spokesperson of the Legislative Affairs Commission of the NPC Standing Committee also said the law won't have any impact on China's continuous opening-up regarding economic development, as it has come up with a series of measures to facilitate foreign investment.
The main purpose of China's Anti-Foreign Sanctions Law is to authorize Chinese administrative agencies and judicial institutions to implement sanctions, and if there's more demand in the practice, top authorities such as the State Council and the Supreme Court can issue corresponding detailed administrative regulations and judicial interpretations based on the authorization, and gradually refine a more specific legal system, Huo told the Global Times.
Some senior officials, such as Carrie Lam, chief executive of the Hong Kong Special Administrative Region, hailed the law. Lam said the law will give the US and other countries "a taste of their own medicine," because a number of central government and HKSAR government officials have been sanctioned by the US for the national security law for Hong Kong implemented in 2020.
"The HKSAR government lacked the resources to fight those sanctions in the past. With the implementation of the Anti-Foreign Sanctions law, they have the top authority's legal support on their backs," Tian said, noting that whether including the law into Annex III of the Basic Law or enabling the HKSAR government to revise or work on relevant anti-sanction local laws are both part of the consideration.
G7 communiqué makes a show but Chinese don't buy it
The Group of Seven (G7) summit ended on Sunday. After the
meeting, the countries issued a communiqué, which openly criticized
China and mentioned issues related to China's Xinjiang, Hong Kong and
Taiwan. The communiqué also mentioned opposition to “forced labor” and
"unilateral attempts to change the status quo” in the East and South
China Seas. Attitudes were expressed in different degrees of tone, with
some directly naming China and others without calling China's name but
making the country the unmistakable target. It has been the most
systematic condemnation against and interference in China by major
Western powers
During the past several
years, the world has witnessed a see-saw of sanctions and counter
sanctions between the governments of the US and China - a reflection of
Washington politicians' reckless determination to create troubles in
order to stifle growth of an emerging economic juggernaut, and the
intransigence and unbending character of Beijing to uphold justice and
not bow to a bully.
A special law aiming to protect the dignity and rights
of military personnel in China was approved on Thursday at the 29th
session of the Standing Committee of the 13th National People's Congress
(NPC).
At the end of May, US President Joe Biden ordered the
intelligence community to "redouble" its efforts in the investigation of
the origin of COVID-19 and report back to him in 90 days.
PETALING JAYA: Malaysia is seeing a dip in the Covid-19 infectivity rate. Though this is encouraging, health experts caution the public against taking their foot off the pedal.
Universiti Putra Malaysia medical epidemiologist Assoc Prof Dr Malina Osman said the downward trend proved that the preventive measures put in place were effective.
“Our steps to control the outbreak are on track but we have to continue this effort to reduce it further.
“It is a good sign, but if we loosen our grip, the number of infections is set to potentially increase, ” she said.
Dr Malina added that while the country’s R value was showing a decline, the aim would be to push it down to near zero.
The R value, or reproduction number, refers to the infectivity rate of a virus at a particular point in time.
It represents the average number of people an infected person could spread the disease to, so an R value of lower than 1 means that the number of people being infected on average will be fewer over time.
Health director-general Tan Sri Dr Noor Hisham Abdullah said the R value had dropped to below 1 during the first week of the lockdown.
Yesterday, it was recorded at 0.99.
On May 31, before the two-week lockdown was implemented, it was 1.09.
Previously, the R value was also recorded at levels of 1.21 and 1.16, on May 23 and May 29, respectively.
International Islamic University Malaysia epidemiologist Prof Dr Jamalludin Ab Rahman said while the R value did show a positive impact, it was not enough.
Malaysia was not out of the woods yet, he said.
“R alone is not enough. For example, we should look at fatality rates, or the number of new clusters.
“Should we be happy with an R value that is lower than 1?
“Yes. But is the effort enough? Not yet, ” Dr Jamalludin pointed out.
“The R value has to be persistently low. Until when? There is no precise answer.”
He said that while the MCO and lockdown had reduced mobility among the general population considerably, Malaysia was still seeing transmissions in factories.
“The government really needs to settle this source of infections.
“The movement control order can solve sporadic cases in the community but if factories are still operating and close contact in crowded spaces is not being controlled, we will continue to have cases from factories, ” he added.
Universiti Kebangsaan Malaysia epidemiologist Assoc Prof Dr Azmi Mohd Tamil agreed.
He said that unless a relational database – where all secondary cases were mapped out to each primary case – it would not be possible to get the accurate average number of secondary persons infected from a single primary case.
“What we have is only an estimate based on a mathematical model.
“As long as we have cases in the community, the outbreak will continue – until the majority of the population is immune to the disease.”
At present, Dr Azmi said, “all possible cases of Covid-19 need to be screened, identified and isolated from the susceptible population”.
He reckoned that the lockdown should not be lifted on June 14.
“The number of cases does not support that – even though the R value is currently below 1, ” he added
PETALING JAYA: Spending almost two weeks in hospital after testing positive for Covid-19 last year is something housewife Sharifah Farah Ayuni Syed Rosli does not want to go through again – ever.Now, she and her husband have only one important thing in mind – to look after and protect their three children from being infected.
“That harrowing experience was enough to jolt us. We hope neither we nor our kids get infected by the disease,” said the 30-year-old from Kota Baru.
Recalling her stay, Sharifah said she spent about 13 days in hospital with her businessman husband Mohd Azlee Che Mohd Zaid and their son, Mir Ali Zafar, who was three months old at the time.
While she was well cared for by medical workers there, the housewife said she was mentally exhausted thinking about her two other children, who tested negative and placed in their grandmother’s care.
“Nowadays, I get a little anxious if I feel unwell, worrying if I contracted Covid-19 again.
“Thankfully, we are all healthy. We understand that we must stay at home to guard against getting infected,” she said.
Recently, Health director-general Tan Sri Dr Noor Hisham Abdullah said there was a rise in infections among younger children, some of whom had to be treated at intensive care units.
Sharifah said she and her husband tried to set good examples for their three children, now aged six, four and one-and-a-half, and remind them to wash their hands and wear their face masks properly.
She said her children understood that they could not go for outings because of the pandemic.
“We are grateful that they are obedient and follow our advice.
“There are times when they get upset and sulk, as children sometimes do, but they listen,” Sharifah said.
Kiranjit Muniandy wonders if she is doing enough to protect her 19-month-old daughter from getting infected.
“The number of kids getting infected of late is alarming. It’s tougher now because she is at that age where she just wants to touch everything,” she said.
Kiranjit, 39, was also worried about the high number of new cases daily.
“My husband and I have decided not to go out and stay at home.
“We have also stopped receiving visitors. We take care of our daughter while we work from home.
“Thankfully, we work on shifts. My husband works in the day while I work at night so we take turns,” said the banking executive.
Kiranjit said she would take every precaution to protect her family from being infected and hoped that the pandemic would end soon as she misses her family in Sabah.
“My daughter has not met her grandparents for over a year,” she said.
