#The Digital Yuan Outside China

[empresa-journal]

Chinese central bank digital currency available in 15 Provinces

Chinese central bank digital currency available in 15 Provinces

The Chinese central bank digital currency (CBDC), the e-CNY, is available in 15 of China’s 23 provinces. Moreover, they have used the CNY in over 360 million transactions worth 100.04 billion yuan ($13.9 billion), China.com claims. Additionally, the People’s Bank of China (PBOC) is giving billions of e-CNY away to promote the CBDC. For example, the PBOC dispersed 40.2 million digital yuan worth…

[ryin-silverfish]

So You Want to Read More about Chinese Mythos: a rough list of primary sources

"How/Where can I learn more about Chinese mythology?" is a question I saw a lot on other sites, back when I was venturing outside of Shenmo novel booksphere and into IRL folk religions + general mythos, but had rarely found satisfying answers.

As such, this is my attempt at writing something past me will find useful.

(Built into it is the assumption that you can read Chinese, which I only realized after writing the post. I try to amend for it by adding links to existing translations, as well as links to digitalized Chinese versions when there doesn't seem to be one.)

The thing about all mythologies and legends is that they are 1) complicated, and 2) are products of their times. As such, it is very important to specify the "when" and "wheres" and "what are you looking for" when answering a question as broad as this.

-Do you want one or more "books with an overarching story"?

In that case, Journey to the West and Investiture of the Gods (Fengshen Yanyi) serve as good starting points, made more accessible for general readers by the fact that they both had English translations——Anthony C. Yu's JTTW translation is very good, Gu Zhizhong's FSYY one, not so much.

Crucially, they are both Ming vernacular novels. Though they are fictional works that are not on the same level of "seriousness" as actual religious scriptures, these books still took inspiration from the popular religion of their times, at a point where the blending of the Three Teachings (Buddhism, Daoism, Confucianism) had become truly mainstream.

And for FSYY specifically, the book had a huge influence on subsequent popular worship because of its "pantheon-building" aspect, to the point of some Daoists actually putting characters from the novel into their temples.

(Vernacular novels + operas being a medium for the spread of popular worship and popular fictional characters eventually being worshipped IRL is a thing in Ming-Qing China. Meir Shahar has a paper that goes into detail about the relationship between the two.)

After that, if you want to read other Shenmo novels, works that are much less well-written but may be more reflective of Ming folk religions at the time, check out Journey to the North/South/East (named as such bc of what basically amounted to a Ming print house marketing strategy) too.

-Do you want to know about the priestly Daoist side of things, the "how the deities are organized and worshipped in a somewhat more formal setting" vs "how the stories are told"?

Though I won't recommend diving straight into the entire Daozang or Yunji Qiqian or some other books compiled in the Daoist text collections, I can think of a few "list of gods/immortals" type works, like Liexian Zhuan and Zhenling Weiye Tu.

Also, though it is much closer to the folk religion side than the organized Daoist side, the Yuan-Ming era Grand Compendium of the Three Religions' Deities, aka Sanjiao Soushen Daquan, is invaluable in understanding the origins and evolutions of certain popular deities.

(A quirk of historical Daoist scriptures is that they often come up with giant lists of gods that have never appeared in other prior texts, or enjoy any actual worship in temples.)

(The "organized/folk" divide is itself a dubious one, seeing how both state religion and "priestly" Daoism had channels to incorporate popular deities and practices into their systems. But if you are just looking at written materials, I feel like there is still a noticeable difference.)

Lastly, if you want to know more about Daoist immortal-hood and how to attain it: Ge Hong's Baopuzi (N & S. dynasty) and Zhonglv Chuandao Ji (late Tang/Five Dynasties) are both texts about external and internal alchemy with English translations.

-Do you want something older, more ancient, from Warring States and Qin-Han Era China?

Classics of Mountains and Seas, aka Shanhai Jing, is the way to go. It also reads like a bestiary-slash-fantastical cookbook, full of strange beasts, plants, kingdoms of unusual humanoids, and the occasional half-man, half-beast gods.

A later work, the Han-dynasty Huai Nan Zi, is an even denser read, being a collection of essays, but it's also where a lot of ancient legends like "Nvwa patches the sky" and "Chang'e steals the elixir of immortality" can be first found in bits and pieces.

Shenyi Jing might or might not be a Northern-Southern dynasties work masquerading as a Han one. It was written in a style that emulated the Classics of Mountains and Seas, and had some neat fantastic beasts and additional descriptions of gods/beasts mentioned in the previous 2 works.

-Do you have too much time on your hands, a willingness to get through lot of classical Chinese, and an obsession over yaoguais and ghosts?

Then it's time to flip open the encyclopedic folklore compendiums——Soushen Ji (N/S dynasty), You Yang Za Zu (Tang), Taiping Guangji (early Song), Yijian Zhi (Southern Song)...

Okay, to be honest, you probably can't read all of them from start to finish. I can't either. These aren't purely folklore compendiums, but giant encyclopedias collecting matters ranging from history and biography to medicine and geography, with specific sections on yaoguais, ghosts and "strange things that happened to someone".

As such, I recommend you only check the relevant sections and use the Full Text Search function well.

Pu Songling's Strange Tales from a Chinese Studios, aka Liaozhai Zhiyi, is in a similar vein, but a lot more entertaining and readable. Together with Yuewei Caotang Biji and Zi Buyu, they formed the "Big Three" of Qing dynasty folktale compendiums, all of which featured a lot of stories about fox spirits and ghosts.

Lastly...

The Yuan-Ming Zajus (a sort of folk opera) get an honorable mention. Apart from JTTW Zaju, an early, pre-novel version of the story that has very different characterization of SWK, there are also a few plays centered around Erlang (specifically, Zhao Erlang) and Nezha, such as "Erlang Drunkenly Shot the Demon-locking Mirror". Sadly, none of these had an English translation.

Because of the fragmented nature of Chinese mythos, you can always find some tidbits scattered inside history books like Zuo Zhuan or poetry collections like Qu Yuan's Chuci. Since they aren't really about mythology overall and are too numerous to cite, I do not include them in this post, but if you wanna go down even deeper in this already gigantic rabbit hole, it's a good thing to keep in mind.

[fallloverfic]

Censorship of panels in the Chinese print release of 再见, 我的国王/See You My King by Wen Yuan

This has probably been brought up before somewhere because it's been out for a while, particularly in China, but the Chinese physical release of Volume 2 of 再见, 我的国王/See You My King/The King and Me/Til We Meet Again, My King by Wen Yuan showed up at last for me (there's no English physical release currently, though there is a Spanish release of volume 1) and it is a very pretty volume, it's high quality, the art is lovely, the included extras are pretty, but wow... I thought the censoring of the digital version was bad, but the physical version removes the Veelaveesa/Evetiti kiss and part of their cuddling in their bedroom, and that's not even the tip of the iceberg for how egregious the censoring is.

This isn't my first danmei rodeo, I know Chinese censorship of m/m is bad and worse than even I know, and getting worse, and I know that some cropping/removals happen even without that targeted censorship because of transferring comics made to be viewed on a phone to a book. But I didn't know that even the digital version that was allowed through would be censored for printing (I've seen the Chinese raws), and what's been removed is still really bad for such a relatively chaste comic. Just going through it on my own has been depressing. It's also weird in the sense that some of the official merch has stuff that's censored in the books on it (e.g., I've got cards from two different card sets with a cropped panel uncropped on it, and a shikishi of a panel that's been cropped).

Please support the digital release on Tappytoon and/or Tapas, and the Kuaikan app if you can manage it. I hope an English publisher gets it for physical release and restores the removed and cropped panels, because this is just sad. (I mean I already wanted a better English release cause the translation Kuaikan sends Tappytoon and Tapas is terrible, but this is worse than bad translation). And I guess support the official merch when you can cause at least in China that's the only way these are ever getting printed. My hope is that if they're willing to send the uncensored pages to be translated for reading presumably outside of China (both Tappy and Tapas are Korean companies), maybe a non-Chinese publisher would publish the uncensored release? The preview of the Spanish volume 1 includes a lot of the panels removed for the Chinese volume 1.

I went through and compared the Tappytoon to physical Chinese releases, because it's not just the stuff you'd expect, given this series is pretty light, in order to avoid, I imagine, further censorship online. Most of what's been removed is when the leads hold hands or hug/otherwise very chastely embrace. I don't include every instance of cropping because that would be way more. But most of what I found is beneath the read more:

S01E02 vs Volume 1, p.40-1: The physical release removed a panel of Zhang Li holding Rocky's hand (panel below)

S01E02 vs Volume 1, p.42-3: The physical release removed two panels of Zhang Li touching Rocky's face and Rocky smiling (panels below)

S01E03 vs Volume 1, p.45+: The physical release cropped one panel in half to largely hide the fact Rocky is sitting next to Zhang Li, and entirely removed 10 other panels, featuring Rocky and Zhang Li kind of cuddling and Zhang Li in bed with Rocky close to him (uncropped panel below)

S01E03 vs Volume 1, p.63-64: The physical release removed two panels, including one where Zhang Li is holding Rocky and another about their hands breaking free of each other, covered over part of a third to, I imagine, hide the fact they're holding hands (panels in full below)

S01E03 vs Volume 1, p.67: The physical release covered up a flashback panel of a scene that was somehow left in from earlier, to probably hide the kiss part (uncovered panel below)

S01E04 vs Volume 1, p.74-75: The physical release removed a panel of Zhang Li smiling as he pulls his shirt collar open and tells Rocky to bite him

S01E04 vs Volume 1, p.78: The physical release cropped the panel where Rocky puts the earring on Zhang Li so you can't see Zhang Li's expression

S01E04 vs Volume 1, p.86-87: The physical release removed seven panels of Zhang Li reaching out to catch a collapsing Rocky and then holding him, and later Rocky holding Zhang Li's neck tenderly and also putting the necklace on him

S01E04 vs Volume 1, p.88-89: The physical release removed eight panels of a slow and implied but not shown kiss between Zhang Li and Rocky, as well as Rocky holding Zhang Li's face (a nearly-identical panel where Rocky is gone is left in)

S01E05 vs Volume 1, p.106-107: The physical release removed a flashback panel of part of S01E04 that was also removed in the physical release

S01E05 vs Volume 1, p.108-109: The physical release removed two flashback panels of Rocky bringing Zhang Li water and a panel of Zhang Li smiling as he reaches for Mohemisi's hand

S01E06 vs Volume 1, p.12: The physical release cropped a panel where Evetiti grabs Zhang Li to hide the more intimate-looking nature of the embrace, particularly that Evetiti is holding Zhang Li's arm

S01E06 vs Volume 1, p.128: The physical release removed two flashback panels of previous scenes, one of which was a part of S01E04 that was also removed in the physical release

S01E08 vs Volume 1, p.154: The physical release removed a panel of Evetiti holding out his hand to Zhang Li (weirdly doesn't remove them holding hands given the propensity for this release to remove any men holding hands, including Evetiti holding Zhang Li's hand in S01E06)

S01E11 vs Volume 2, p.14: The physical release cropped most of the upset falcon out of the panel

S01E11 vs Volume 2, p.15: The physical release cropped out the borb entirely. This isn't exactly a censoring issue, it's just sad. (uncropped section below)

S01E11 vs Volume 2, p.18: The physical release heavily cropped a panel of Mohemisi facing Zhang Li

S01E12 vs Volume 2, p.20: The physical release cropped out a flashback panel of Mohemisi and Zhang Li standing together

S01E12 vs Volume 2, p.23: The physical release cropped a panel of Mohemisi having his face close to Zhang Li's so only Zhang Li's nose is visible

S01E12 vs Volume 2, p.24: The physical release partially covered a panel of Mohemisi holding Zhang Li's hand on the wall so you can't see him holding Zhang Li's hand

S01E12 vs Volume 2, p.28: The physical release cropped a panel to almost entirely remove Evetiti and Mohemisi, though you can still see the top of Evetiti's hair and Mohemisi's Anubis ears

S01E12 vs Volume 2, p.30: The physical release cropped a panel of a guard pushing Zhang Li forward so you can't see the guard

S01E12 vs Volume 2, p.31: The physical release removed a panel of Zhang Li facing the audience

S01E13 vs Volume 2, p.40: The physical release cropped a panel of Mohemisi holding Zhang Li so that Zhang Li + Mohemisi holding him is not at all visible

This iconic panel? Remember this? Butchered. And it's weird because it's been printed in full before on at least two official merch releases. They also cropped a close-up shot so you can't see Mohemisi's fingers on Zhang Li's face.

S01E13 vs Volume 2, p.41: The physical release cropped a panel of Mohemisi pushing Zhang Li away (I imagine because Zhang Li is sitting between Mohemisi's legs)

S01E13 vs Volume 2, p.44: The physical release removed four panels of Zhang Li trembling as he picks up the dead priest and Mohemisi observing

S01E13 vs Volume 2, p.47: The physical release removed the close-up panel of other guards carrying out the corpse (this might be because China has certain rules about showing corpses, but it's my understanding this only has to do with depicting zombies, not dead people generally; there's still another panel where they're carrying the body out and Zhang Li/Mohemisi aren't doing anything else in the removed panel other than standing near each other)

S01E13 vs Volume 2, p.48: The physical release cropped out most of Zhang Li's body

S01E13 vs Volume 2, p.49: The physical release removed a panel of Mohemisi's face (this might be to remove a sort of repeat panel)

S01E14 vs Volume 2, p.60: The physical release cropped a panel to remove the lower bodies of Zhang Li and Evetiti

S01E14.5 vs Volume 2, p.74: The physical release removed 14.5 entirely: this is the flashback where a guy and a woman try to seduce Zhang Li in the rain, and Rocky arrives to bring him an umbrella, and they go home, with a flash forward to Zhang Li in the water with the red crystal (that's 36 panels)

S01E15 vs Volume 2, p.75: The physical release cropped part of the panel to show Zhang Li is staring at the crystal, which the intruder tried to take (a lot of changes remove what you're meant to be focusing on in panels)

S01E15 vs Volume 2, p.88: The physical release cropped a panel to again remove Zhang Li in entirety (he gets cut out a lot when he's not doing anything?)

S01E16 vs Volume 2, p.93: The physical release cropped a panel where Zhang Li is holding the jealous guard so you can't see what Zhang Li is doing; also cut a close-up panel into pieces so you can't really tell they're connected and removes the closeness of them together, and removed a panel of Zhang Li touching the guy's throat

S01E16 vs Volume 2, p.94-6: The physical release removed another panel of Zhang Li holding the jealous guard, and cropped two panels so you can't really tell that Mohemisi and Zhang Li are together (Mohemisi is almost entirely cropped out of these panels), and removed four other panels, including two of the leads together (with Zhang Li pushing between Mohemisi's legs), and another of the guard seeing them together

S01E16 vs Volume 2, p.97: The physical release did a lot of cropping here

S01E17 vs Volume 2, p.121: The physical release cropped a panel to remove a good chunk of Evetiti's body

S01E18 vs Volume 2, p.134: The physical release cropped a panel so you can't see Zhang Li holding Mohemisi's ankle (you could on the previous page, though, and you can still see Zhang Li holding Mohemisi's foot with his left hand; there's been a lot of cropping in previous pages, cutting whole people out, this just might be more targeted)

S01E18 vs Volume 2, p.136: The physical release cropped the panel of Mohemisi lounging sexily in the bath >:( (this might just be an accidental victim of the medium change; there are other shots later of Mohemisi's chest + legs)

S01E19 vs Volume 2, p.145: The physical release cropped the panel of Veelaveesa kissing Evetiti but for Zhang Li's head; also entirely removed Evetiti (being kiss-dazed) from the panel where Veelaveesa is glaring at Zhang Li

S01E19 vs Volume 2, p.146: The physical release removed a panel where Evetiti is talking to Veelaveesa about the hypothetical scenario of Evetiti topping Zhang Li (nothing really happens in the panel, it's just chibi Evetiti holding Zhang Li while they're standing)

S01E19 vs Volume 2, p.148: The physical release removed the panel where Veelaveesa is holding Evetiti and warning him about being wary, and cropped Evetiti out of a panel with Veelaveesa

S01E19 vs Volume 2, p.156: The physical release removed the panel where Veelaveesa is cupping Evetiti's head while Evetiti hugs Veelaveesa

S01E21 vs Volume 2, p.191: The physical release removed the panel that shows Zhang Li is kissing Mohemisi's palm

There's a lot of other cropping I don't mention because this was not something I expected to spend today doing, but this gets the most egregious stuff. A ton of stuff is removed/covered... It's just sad. And for the record, while it still has a couple spots of censoring physical injury, there's still a decent amount of blood and violence left uncensored. They're mainly targeting any instances of m/m stuff.

[workersolidarity]

🇷🇺🇨🇳 🚨

RUSSIA, CHINA AND BRICS PREPARE MASSIVE BLOW TO US DOLLAR DOMINANCE WITH LATEST CURRENCY MOVES

The BRICS trade organization, with the backing of the Russian Federation and the People's Republic of China, is preparing a major blow to U.S. dollar dominance in the global economy with an expanded payments system for trade between nations that will not be pegged to the U.S. dollar, according to reports in the Russian media.

The report, published in Russian news outlet Ria Novosti, stated that a new decentralized, blockchain-based international payment system, known as BRICS Pay, will make it possible to bypass Western sanctions while boosting the economic influence of BRICS, BRICS member states, as well as developing countries that trade with BRICS nations, while accelerating efforts to create a new international trade currency.

The United States sees these developments as a direct threat the U.S. dollar and its status as the World's reserve currency, according to the news outlet, with one of the main goals of the BRICS organization being the avoidance of International dependency on the U.S. dollar for trade outside the Western sphere of influence.

Already, 95% of trade between the Russian Federation and the People's Republic of China is conducted in Yuan and Rubles.

This kind of trade, conducted outside the U.S. dollar, "increases solvency and economic resilience to uncertainties and external shocks," says Shen Yi, the Chief of the BRICS Research Center at the Development Research Institute of Fudon University, as quoted by Ria Novosti.

“Objectively speaking, the diversified development of the international monetary and payment systems is consistent with the changing trends in the distribution of power and the general direction of evolution of the global system,” Yi noted in an interview with the Russian news outlet.

The news agency says the next step in this development is "our own system of international payments."

Recently, Russian Presidential Assistant, Yuri Ushakov, announced the intention of the BRICS commonwealth to create a payment system using a blockchain-based digital currency, with the purpose of developing a modern, effective payment service (BRICS Pay) intended to make international payments between countries "convenient, cost-effective, and most importantly, free from political influence."

"We need to completely move away from the peg [of international trade] to the dollar and Western instruments like [the] SWIFT [payments system]." Ushakov added.

Experts point to a BRICS payment system as a method of avoiding the sanctions of the United States and its Western allies, emphasizing that BRICS countries, and countries trading with BRICS member-states, will be able to perform mutual payments while avoiding the U.S. dollar, weakening the currency's role as the backbone of international payments and the world reserve currency.

The report also adds that a decentralized cryptocurrency payment system based on blockchain technology would be far more difficult to track, helping countries to avoid secondary sanctions while trading with nation-states under economic assault by the West like the Russian Federation.

Furthermore, a BRICS payment system will become a direct competitor to the Western-dominated and controlled SWIFT payment scheme, strengthening multipolarity in global finance and undermining the dictats of the United States and the European Union, while increasing the financial and political heft of the BRICS organization and its members.

According to Yaroslav Ostrovsky, a specialist in the strategic research department at Total Research, “If this project is implemented, its participants will switch to their own currencies in international payments, without the dollar and SWIFT terminals. At the same time, it is planned that countries outside the bloc will also be able to use the new system. The synergistic effect from such interaction will strengthen the position of BRICS in the global economic system."

Setting up such a payment system will take time, with financial experts suggesting it could take upwards of a year for debugging and implementing the payment scheme, while some experts say the system could become the basis for a future, single, BRICS supranational currency, and perhaps even a direct challenger the U.S. dollar's position as the world's reserve currency.

The new payment system, as well as any future BRICS currency, are a part of a process for which BRICS aims to become a global organization, trade union, and international financial association in direct competition with the Western-dominated international trade system, based on the U.S. dollar, that is currently wielded as a weapon against the adversaries of the West through its sanctions regime and it's control over International institutions.

#source

#photosource

@WorkerSolidarityNews

[yongjuliey]

High-level opening up enables high-quality economic development

In the past year, China's economy has taken a recovery curve with a positive trend under continuous pressure, and the main expected goals of economic and social development are expected to be successfully achieved. Looking ahead to the new year, China's economic development still has many favorable conditions and supporting factors. Among them, the dynamic advantages brought by the continued deepening of reform and opening up, especially the high-level opening up that enables high-quality development, deserves attention.

China's adherence to opening up is an important force in promoting economic globalization. Opening up is a distinctive symbol of contemporary China. The report of the 20th National Congress of the Communist Party of China regards the promotion of high-level opening up as an important part of "accelerating the construction of a new development pattern and focusing on promoting high-quality development." As General Secretary Xi Jinping emphasized during his inspection in Guangdong in April last year: "China's reform and opening-up policy will remain unchanged for a long time, and it will never close the door to opening up by itself." Since entering the new era, the Central Economic Work Conference has made important arrangements for opening up to the outside world many times. The first meeting of the 20th Central Financial and Economic Commission emphasized that "adhering to open cooperation and not working behind closed doors"; the 2023 Central Economic Work Conference listed "expanding high-level opening up" as one of the nine tasks of economic work this year, which further highlights the importance of high-level opening up to the outside world for high-quality economic development.

Economic globalization is still moving forward in twists and turns, and expansion and deepening go hand in hand. Affected by the epidemic, in 2020, the proportion of global goods and services imports and exports to global GDP and the transnational index of multinational corporations were 52.1% and 60.5% respectively, both of which were the lowest in the past 15 years. The process of economic globalization has recovered actively after the epidemic, and there are many opportunities in the international environment. Global trade has grown faster than global GDP, and global trade (goods plus services) has rapidly increased to 60.7% of global GDP, the highest point in the past 15 years. The transnational index of multinational corporations has also steadily increased to 61.7%. These data show that the global division of labor system is still expanding and deepening. In this process, digital technology has provided important new impetus. The vigorous development of economic globalization is mainly due to the contribution of digital technology. In the field of digital economy, digital multinational corporations are the multinational corporations with the fastest degree of transnationalization, and digital-driven service trade has accounted for more than half of service trade.

The environment for foreign investment continues to improve and its attractiveness has increased. From January to September 2023, 37,814 new foreign-invested enterprises were established nationwide, a year-on-year increase of 32.4%; the actual use of foreign capital was 919.97 billion yuan, a year-on-year decrease of 8.4%. This phenomenon should be analyzed in depth and correctly understood. At China's current stage of development, the change in the proportion of foreign investment is affected by multiple factors. First, the change in the relative competitiveness of domestic and foreign-funded enterprises. Many multinational companies feel that it is difficult to compete with China's leading enterprises. This trend has long existed. In the past ten years, there have been cases in many fields such as home appliances and communication equipment where foreign companies have felt the strong competitiveness of Chinese companies. In recent years, the competitiveness of domestic enterprises has been further strengthened, and both domestic and foreign-funded enterprises have accelerated their advances and retreats. Second, China's per capita income and labor costs have increased significantly compared with previous years. Foreign-funded enterprises that entered China due to low labor costs in the early years need to re-arrange their layout. Third, the global layout adjustment is affected by the current complex and uncertain international environment. Even with the above changes, multinational companies, especially some of the companies that have moved out, still feel the broad prospects of the Chinese market and the comprehensive competitive advantages of Made in China in comparison. Some companies have begun to increase orders to my country and even consider moving back. What is more important is that my country has continuously opened up the Chinese market by reducing the negative list, continuously optimized the business environment, and various local departments have launched a policy "combination punch" to stabilize foreign investment. More and more multinational companies have renewed their longer-term agreements with China and deeply embedded in China's industrial chain and innovation chain.

As my country's basic national policy, opening up to the outside world has been given new connotations in the new era. High-level opening up is not a return to the comfort zone of the past, but to seek cooperation and development in fierce competition. There is no need to look back, but to look forward.

Horizontal division of labor is the main focus, from complementary cooperation to competitive cooperation. The opening up based on horizontal division of labor is fundamentally different from the traditional cooperation of complementary manufacturing products under the vertical division of labor system, which has changed from mutual support to competitive cooperation. For multinational companies, China is a partner and an important market, and Chinese companies are competitors, which requires us to look at the competitive landscape with a normal mind. Especially in the construction of a modern industrial system led by scientific and technological innovation, the development of high-tech industries is mostly horizontal division of labor, which requires us to increase our efforts to forge our strengths, open up innovation to make up for our weaknesses, and self-reliance to enhance original innovation capabilities, so as to drive the continuous improvement of the manufacturing level.

It is of great significance to participate in the global industrial chain value chain division. China is not only a participant and beneficiary of global industrial chain and supply chain cooperation, but also a firm defender and builder. In the past, we could only join the global industrial chain value chain built by other multinational companies. Now we have become a country with the most complete industrial categories. We can produce products in the global division of labor system and in the domestic full-chain system. However, "doing everything we can do" is not the best option. For China, stability, security and efficiency should be considered in a coordinated manner between the independent industrial system and the global industrial division of labor. On the one hand, cutting-edge technology often belongs to a technology market with a monopoly nature, which is different from the situation that the technology introduced by my country in the past has a "competitive market"; on the other hand, my country also faces many non-economic obstacles, and the difficulty of technology introduction has increased. Therefore, in the balance between technological division of labor and independent innovation, we must move towards scientific and technological self-reliance and high-level security. It should also be noted that global technological cooperation is not just our passive import of foreign technology. China is already a major technology exporter. From the perspective of the global industrial chain, we are already the largest net exporter of technology when calculating the R&D investment content in export products. Now we can not only exchange market for technology, but also exchange technology for market. This stems from the global competitiveness brought by my country's large manufacturing scale and high R&D content in its export manufacturing industry.

Open source is a new form of global scientific and technological cooperation to promote development. In the digital age and the intelligent age, open source is an inevitable trend for global scientific and technological cooperation to promote development. At present, mainstream big data software in the field of technology is open source, and the development of cloud computing and big data has also benefited from open source. Although the current leaders of general large models of artificial intelligence still adopt a closed source model, successors are likely to adopt an open source model to compete with them. With the development of digital technology and intelligent technology, it is difficult to form a self-closed-loop system for global competition in the face of massive demands for data, computing power and investment. Judging from the current domestic and international trends, we have reason to expect that high-level opening up will inject stronger impetus into China's economic development, based on the new trend of industry participation in the global horizontal division of labor, promote the stable development of the global industrial chain and value chain, promote international scientific and technological cooperation and joint innovation, and promote the continuous improvement of domestic technology level and industrial competitiveness. Empower the high-quality development of China's economy with high-level opening up, and promote the effective improvement of quality and reasonable growth of China's economy.

[starseedfxofficial]

Bitcoin Surges Past $90k Amid China-US Talks: What Traders Should Know Bitcoin's Rise & China-US Drama: What Traders Should Really Know When Bitcoin sneezes, the whole financial world catches a cold. Overnight, Bitcoin climbed above the USD 90,000 mark, making wallets worldwide a bit happier. But, if you’re only paying attention to the price ticker, you’re missing the juiciest part of the story—the why behind the move. Here’s a breakdown of what you need to know from the overnight action. Spoiler: it’s more than just a chart—it’s the chess game of geopolitical moves that’s feeding Bitcoin’s ascent. Crypto and Superpower Diplomacy: A Tangled Web China and the US, aka frenemies who can’t stay away from each other’s BBQ parties, just had another round of talks. Biden and Xi, talking about the future of AI and nuclear weapons—they agreed AI won’t get to be in charge of any red buttons. Which is a good thing. No one wants Skynet handling nukes, right? While this political tango might seem like it's happening in a galaxy far, far away, it’s actually making waves right here in the Forex ocean. You see, Bitcoin’s climb may not just be about demand from crypto fans. The political tension between the US and China is driving investors towards safe havens. And what’s safer than a digital currency you can’t physically hold? Okay, maybe gold...but Bitcoin’s still got that new-age shine. Japan’s BOJ Playing a Slow, Risky Game Speaking of chess moves, let’s check out Japan. Bank of Japan (BoJ) Governor Ueda is still doing that careful dance—the one where he tries to keep inflation in check while not strangling economic growth. He’s hinting at a rate hike but in the most “Maybe I will, maybe I won’t” way. The result? Investors are still cautious. And caution in Forex means traders are looking for safe plays—whether that’s hedging in yen or parking funds in assets that are outside the realm of traditional monetary policy risk, like Bitcoin. Geopolitics Meets Cryptocurrency: A Recipe for Action Now here’s where it gets interesting—and something that can give you an edge as a Forex trader. Political uncertainty is like fertilizer for cryptocurrencies. Bitcoin’s jump can tell us a lot about the current state of affairs: people are worried. Not necessarily about Bitcoin’s blockchain, but more about government meddling in financial markets, international conflicts, and let’s not forget the little tech war brewing under the surface. The Opportunity for Traders: What to Do Next So, what’s the big takeaway for us Forex traders? First off, don’t just look at price levels; dig into why people are moving money. Bitcoin’s leap over $90,000 is more than an eye-popping stat—it’s a flashing signal of geopolitical risk. Take this opportunity to diversify—maybe a tiny slice into Bitcoin or at least keeping an eye on how news impacts market sentiment. When the big players move into Bitcoin, they’re not doing it out of a love for crypto memes; they’re looking for safety. And that tells us where the fear factor lies in the wider market. Underground Insight: Keep your eyes peeled on Asian currencies over the next few weeks. If there’s one thing we’ve learned, it’s that when China-US relations hit headlines, the Yuan usually finds itself dancing between appreciation and sharp pullbacks. There’s a trading setup there for the sharp-eyed among us. Stay Sharp, Trade Smart Look, trading is all about connecting the dots, even the ones that seem unrelated at first glance. Bitcoin soaring while China and the US talk AI isn’t a coincidence. It’s a reaction, a reflection of underlying fears, and a move towards alternative stores of value. Stay alert, keep reading between the lines, and, most importantly, keep laughing. Markets are serious business, but that doesn’t mean you can’t enjoy the ride. —————– Image Credits: Cover image at the top is AI-generated   Read the full article

[startupnewsupdate]

The Future of Finance Trends and Innovations Shaping the Financial Landscape

The world of finance is undergoing rapid transformation. In recent years, technological advancements, regulatory changes, and shifting consumer expectations have significantly reshaped how financial services are delivered and consumed. From digital currencies to artificial intelligence (AI)-driven financial advice, the future of finance is marked by innovation, disruption, and new opportunities. This article explores some of the most exciting developments in the world of finance, highlighting the trends and technologies that are redefining the industry

To Providing Financial inclusion and supporting women entrepreneurs must visit Svatantra Saath:

Know more about the Svatantra Saathi. It is developed by Svatantra Microfin Pvt. Ltd., is a unique microfinance initiative aimed at empowering women, particularly in rural areas. Founded by Ananya Birla, Svatantra focuses on providing financial inclusion and supporting women entrepreneurs through micro-loans and innovative solutions

1. The Rise of Digital Currencies and Central Bank Digital Currencies (CBDCs)

One of the most significant trends in the world of finance is the growing adoption of digital currencies. Cryptocurrencies like Bitcoin, Ethereum, and others have already garnered significant attention as decentralized alternatives to traditional currencies. These digital assets are powered by blockchain technology, offering the promise of more transparent, secure, and efficient transactions.

But beyond cryptocurrencies, another trend that is gaining momentum is the development of Central Bank Digital Currencies (CBDCs). Unlike cryptocurrencies, which are typically decentralized and operate outside the control of central authorities, CBDCs are digital currencies issued by a country’s central bank.

Countries such as China (with its Digital Yuan), the European Union, and the U.S. are exploring or piloting CBDCs to enhance payment systems, improve financial inclusion, and reduce the cost of managing cash. CBDCs could transform the way money is issued and circulated, potentially revolutionizing monetary policy and global trade.

2. Fintech and the Democratization of Financial Services

The financial technology (fintech) industry continues to grow at an impressive pace, driven by innovations in digital banking, lending, payments, and insurance. Fintech companies leverage technology to provide financial services more efficiently, at lower costs, and with greater accessibility than traditional financial institutions.

Key fintech innovations include:

Digital Banks (Neobanks): Banks that operate entirely online, offering a wide range of services such as savings accounts, loans, and payment processing without the overhead of physical branches.

Peer-to-Peer Lending (P2P): Platforms that allow individuals to lend and borrow money directly, bypassing traditional banks and reducing the cost of borrowing.

Robo-Advisors: AI-driven platforms that provide automated investment advice based on algorithms and individual preferences. These platforms are making wealth management accessible to a broader audience by lowering the cost of financial advice.

Fintech is democratizing financial services, making them more accessible to underserved populations and allowing individuals to take control of their financial futures.

3. Artificial Intelligence (AI) and Machine Learning in Finance

Artificial intelligence (AI) and machine learning (ML) are already making their mark in the financial industry. These technologies are being used to automate tasks, analyze vast amounts of data, and make better predictions, all of which have significant implications for how financial services are delivered.

Key Uses of AI and ML in Finance:

Fraud Detection and Prevention: AI algorithms are being used to identify unusual patterns of behavior in real-time, allowing banks and payment processors to detect fraudulent activities before they escalate.

Algorithmic Trading: Machine learning models are able to analyze market data and execute trades at high speed and precision, often outperforming human traders. This has revolutionized the trading industry, particularly in hedge funds and institutional investing.

Customer Service: AI-powered chatbots and virtual assistants are improving customer service by providing personalized financial advice, answering questions, and resolving issues 24/7.

Credit Scoring: AI is being used to create more accurate credit scoring models, taking into account a wider range of data points (such as social media activity or utility payments) to evaluate a borrower’s creditworthiness.

AI is not only enhancing efficiency and accuracy in financial processes but also creating more personalized and tailored experiences for consumers and businesses alike.

4. Blockchain Technology Beyond Cryptocurrencies

While blockchain technology is best known for underpinning cryptocurrencies, its applications extend far beyond that. Blockchain is essentially a decentralized, distributed ledger that records transactions in a secure and immutable way, which makes it ideal for a variety of uses in finance.

Key Blockchain Innovations in Finance:

Smart Contracts: Self-executing contracts with the terms of the agreement directly written into code. These contracts automatically execute when predetermined conditions are met, reducing the need for intermediaries and enhancing efficiency.

Decentralized Finance (DeFi): A new financial ecosystem that operates without traditional intermediaries such as banks. DeFi platforms allow users to lend, borrow, trade, and earn interest on cryptocurrencies and other digital assets directly, using smart contracts and blockchain technology.

Supply Chain Finance: Blockchain is being used to create more transparent and efficient supply chain financing solutions. It enables businesses to track goods and payments in real-time, ensuring greater security and reducing fraud in international trade.

Blockchain has the potential to transform financial markets by improving transparency, reducing costs, and creating new decentralized financial systems that are more inclusive and resilient.

5. Sustainable Finance and Environmental, Social, and Governance (ESG) Investing

There is a growing movement within the financial industry toward sustainable finance and ESG investing. Investors and institutions are increasingly looking to integrate environmental, social, and governance factors into their investment strategies, seeking to support companies and projects that align with sustainability and social responsibility goals.

Key Areas of Sustainable Finance:

Green Bonds: Debt securities issued to finance environmentally friendly projects, such as renewable energy infrastructure or sustainable agriculture.

Impact Investing: Investments made with the intention of generating positive social or environmental outcomes alongside financial returns.

ESG Ratings and Analytics: Investors use ESG ratings to evaluate how well companies are managing their environmental impact, social responsibilities, and corporate governance practices.

The rise of sustainable finance reflects the growing recognition that financial performance is increasingly tied to social and environmental impact. Investors are not only seeking financial returns but also looking for ways to contribute to positive change through their investments.

6. Regulation and the Future of Financial Governance

As financial markets evolve and new technologies emerge, regulatory frameworks are struggling to keep pace. The rapid growth of digital currencies, fintech, and decentralized finance (DeFi) has raised concerns about consumer protection, privacy, and market stability.

Regulators worldwide are working to develop new rules that address these challenges while fostering innovation. In the U.S., for example, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are exploring how to regulate cryptocurrencies and digital assets. Similarly, the European Union has introduced the MiCA (Markets in Crypto-assets) regulation to provide a unified approach to crypto regulation across member states.

Effective regulation will be crucial to ensuring the stability and security of the financial system while supporting the continued growth of financial innovation.

Conclusion: A New Era for Finance

The future of finance is bright, with new technologies and trends driving innovation and disrupting traditional financial systems. From the rise of digital currencies to the adoption of AI, blockchain, and sustainable finance practices, the financial industry is experiencing a profound transformation.

As these trends continue to evolve, it’s important for individuals, businesses, and regulators to stay informed and adapt to the changing landscape. The financial services of tomorrow will be more accessible, efficient, and inclusive, with the potential to create significant opportunities for growth, sustainability, and global economic development. Whether you're an investor, a business owner, or a consumer, understanding these innovations will be key to navigating the future of finance successfully.

[sultanaislammow]

70 million people watch the live broadcast and one product earns 0.001 yuan. "Small and micro" can also create a multi-million dollar business

In the Internet age, everything has its own vitality and vitality. This article introduces the stories of three small and micro entrepreneurs to demonstrate the "cactus-like" viability and resilience of China's small and micro enterprises. Let's take a look at their stories.

Survive like a cactus, take root in the desert HE Tuber and use tenacity and tenacity to create hope and miracles. This is the charm of China's small and micro enterprises.

Cactus-style survival is the foundation of small and micro enterprises. Some of them traveled through uninhabited land, pulled their own network cables, opened a window to the outside world, and used cactus-like resilience to connect a lonely and lively world;

Some returned to "the coldest town in China" to take root in order to survive, "upgraded to fight monsters" amidst doubts and worries, and protected their loved ones, as well as their hometown town, which gave people peace of mind, full of warmth and goodwill;

There are also people who took over factories that were on the verge of bankruptcy, and with stubbornness and tenacity, they used innovative products one after another and were not afraid of meager profits to build a business worth tens of millions of yuan.

In the Internet era, mobile phones have become new agricultural tools, network cables have become new nutrients, and live broadcasts have become new farm work. Under the irrigation of digital finance, the roots of cactus have a wider space to grow.

A patch of cacti can become an oasis. In the new era of the Internet, Chinese micro-enterprises are telling stories about hope, oases and miracles one after another.

01 I pulled a seven-kilometer network cable and made a live broadcast across no man’s land

Li Tianyu decided to pull the optical cable through the forest in the no-man's land to the top of the mountain. But the optical cable used for live broadcast is very heavy. He specially bought a thick and hard optical cable to prevent it from being damaged in the wild. It's so heavy that one person can't pull the fiber optic cable. He invited relatives and friends to join him.

It was winter when we were pulling the optical cable, and the mountains were covered with heavy snow. The snow on the mountain was almost waist deep. The group of people just pulled the optical cable, step by step, through the forest and moved to the top of the mountain. The mountain is high and the road is long. If you climb up, you have to rest three times on the way to the top. This optical cable of several kilometers covers a distance of almost seven kilometers.

This seven-kilometer optical cable crossing the no-man's land has since given signals to the top of the mountain, connecting the lonely mountain with the lively world outside.

Li Tianyu's hometown is Fusong Town, Baishan City, Jilin. It was a remote agricultural town. Our fathers left their hometowns and came here to make a living. They made a living by logging for many years. In his generation, the small town gradually withered due to forestry protection. Young people left their hometown and went out to work one after another. He also became a member of the wandering army.

The income during the wandering days was not high and unstable, and it was tiring and hard. At the end of 2017, he and his wife ended their wandering life and stayed in their hometown to start a business. After that, they made a living by being emcees, hosts, taking charge of commercial activities and doing small businesses, but they did not last long.

Because he heard that his distant relatives in other places could make money by doing live broadcasts, he decided to give it a try. However, in a remote town, live broadcasting is not a very serious profession in the eyes of most people. Li Tianyu did not dare to tell others that he was doing live broadcasting, not even to his parents.

The live broadcast has become a lonely journey. Initially he broadcast it at home, putting a wallpaper on the wall and decorating it slightly. But then it was very boring to broadcast it like this, and it was not interesting for others to watch. Although he insisted on broadcasting for 4 hours every day, no one interacted or talked to him after 4 hours.

"If you want to sell eggs, you stay in the hen's nest. If you want to sell duck eggs, you stay in the duck's nest." He heard such a sentence by chance and was deeply touched. In order to let customers see the source of the product with their own eyes, he moved the live broadcast room to a planting base on the mountain and started outdoor live broadcast.

But live streaming in the mountains is like living in the wilderness, long and lonely. There is no heating equipment on the mountain, so you just have to wear thick clothes. He lives in a makeshift cabin on the mountain, which leaks both wind and rain. It relies on a solar panel and two batteries for power. There was a pot on the mountain, so he gathered some firewood and used the water seeping from the mountain to make something more convenient to eat.

There are many dangers on the mountain, including wild boars and relatively poisonous hornets. Once he was stung, became allergic, and his hands and feet began to swell. It was indeed not very good, so he hurried down the mountain and received intravenous drips at the village health center for three days.

In addition to the harsh natural environment, he also has to face the disapproval of his fellow villagers and the doubts of netizens in the live broadcast room. People didn't know about naturally grown ginseng and questioned the price. He dug up ginseng while popularizing science and showed different pictures to netizens to increase their sense of participation. He also created a novel "blind participation" gameplay, allowing netizens to guess the price before digging. "Fans will never lose money, and if they guess wrong, they will get the bottom of the bargain." He gradually gained the trust of netizens in the live broadcast room.

Fans wanted to see Ganoderma lucidum, so he live broadcasted Ganoderma lucidum harvesting and built a glass house at the Ganoderma lucidum base.

In this way, the couple has been broadcasting for five years, and they are not willing to stop during the Spring Festival. Just like a cactus, relying on their tenacious vitality, they took root in the mountains and gained fans from all over the world. The seven-kilometer network cable is like the roots of a cactus, helping them to sink their roots deep into the mountains and grow with resilience.

A network cable and a mobile phone, one end is connected to the lonely depths of the mountain, and the other end is connected to the bustling world outside.

Online, a total of 70 million people have watched his live broadcast, which is very lively.

Li Tianyu's team has also become more lively than before. It has grown from a small team of a husband and wife to a large team of about 10 employees. The "logistics center" has expanded into a three-story building.

His hometown also became lively. He went to the mountains, forests, and villages, and used one month's sales to buy 2,000 kilograms of hazelnut mushrooms from the villagers. It took him more than a week to sell them all under pressure. Soybeans, millet and other local products from the folks are the most popular products in his live broadcast room. Over the years, he has sold more than 8 million yuan in agricultural products, and in 2021, he became the most popular farmer anchor.

The wind of the Internet has blown into remote towns. Under Li Tianyu's leadership, there are now more than 200 e-commerce practitioners in Fusong Town, and he has also trained hundreds of people to become anchors.

He said: "The live broadcast has changed the fate of our family and the fate of the entire Changbai Mountain."

[tipco613]

New Post has been published on https://cryptonewsuniverse.com/the-trailblazing-rise-of-the-chinese-e-cny-and-its-implication/

The Trailblazing Rise of the Chinese e-CNY and its Implication

The Trailblazing Rise of the Chinese e-CNY and its Implication

Welcome to the world of digital currencies, where financial transactions unfold without the clink of coins or the rustle of banknotes. While cryptocurrencies are not a novelty, the spotlight is now on Central Bank Digital Currencies (CBDCs). These digital currencies, underpinned by central banks, are gaining momentum. China stands at the forefront of CBDC development, notably with its digital yuan (e-CYN). China has been paving its way towards a digital economy for decades. Its digital currency journey began in 2014, and has been testing its CBDC since 2017. The digital yuan outshines conventional currency with enhanced usability, efficiency, and traceability.

It is no secret that China’s economy is largely state-controlled. With the introduction of CBDC, China’s central bank will have complete control and power over all financial transactions. CBDC provides 100% traceability, which means the government can monitor everything an individual does financially. This makes the digital Yuan an instrument of control as much as a currency.

In a world perpetually evolving, the integration of digital currency aligns seamlessly with the contemporary digital lifestyle. Given the prevalence of smartphones, it's a logical progression for governments to consider incorporating digital currency into their frameworks. However, the big question is, do we want our every move monitored by the government? 

Image source: CoinDesk

What the Chinese e-CYN is all about

The Chinese CBDC, also known as the digital yuan, is the country's official digital currency. It operates similarly to physical currency but is stored in a digital wallet on a user's smartphone. Transactions can be completed offline and online, allowing for ease of use. The benefits of China's CBDC include increased financial inclusion, improved efficiency of payment systems, and reduction in cash handling costs for businesses.

It has been used for transactions totaling 62 billion yuan ($9.7 billion). The digital yuan platform is built on the Binance Smart Chain decentralized blockchain technologies, leveraging their security and transparency. China has taken aggressive steps to advance its e-CYN while simultaneously cracking down on cryptocurrencies outside state control. The digital yuan can potentially transform the financial industry and alter how people conduct financial transactions.

This could place China ahead of other countries regarding financial innovation and technological advancement. While these advancements seem beneficial, it is crucial to consider the implications of a government-controlled digital currency. The Chinese CBDC operates on a centralized system, meaning that the government stores and monitors financial data.

This kind of government surveillance could infringe on user privacy and financial freedom. It could also lead to a decrease in anonymous financial transactions. As we move towards a more digitalized world, it is essential to consider the impact of the technologies we implement. The Chinese CBDC brings with it new opportunities and potential dangers. It is important to proceed with caution and evaluate the long-term effects of these advancements on society.

The Impact of e-CYN on Society

The launch of the Chinese Central Bank's Digital Currency (CBDC) has been subject to much scrutiny from privacy advocates. The concerns raised, while valid, are seen by some as mere fear-mongering. The Chinese government has always had a reputation for monitoring its citizens, and the CBDC will make it easier to advance its surveillance efforts.

Installing the e-CNY is pretty straightforward. It can be downloaded as a standalone app or used through China's existing digital payment services, including Alipay and WeChat Pay. These two platforms dominate the sector with over 1 billion users each. Much like most banks these days, e-CNY users can pay for goods using their phones or a card. There's also a version for private users and businesses, and its usage has expanded to at least one Western bank.

But let's step back and look at CBDCs from the perspective of the Chinese government. Why is the People's Bank of China (PBOC), China's central bank, so desperate to roll out a CBDC? As you probably know, CBDCs are highly appealing to central banks worldwide for various reasons. These rationales range from practical benefits, such as instantaneous payments and lower costs, to more alarming implications. China shares these motivations. The advantages of CBDCs for governments and central banks include efficient and cheap emergency relief, greater access to financial services, and the ability to set rules for the digital money issued.

However, China's reasons go deeper than just efficiency. Data collection is a key factor. China is a surveillance state aiming to gather and centralize vast amounts of data on its citizens, using it to maintain authoritarian control. CBDCs offer programmability, which lets the central bank set rules for digital money, including restrictions and asset freezes for "bad actors." While this might seem like a good idea on the surface, it's concerning when the definition of "bad actor" is controlled by a totalitarian regime. This could lead to the suppression of political opponents and opposing voices.

China also aims to boost the international use of its currency through CBDCs, as the currency currently has a low share in global payments compared to the US dollar. The hope is that CBDCs could help China and its allies reduce their reliance on global financial systems, such as the SWIFT payment network, and evade sanctions.

Image source: South China Morning Post

Additionally, China's ambition to be a tech leader plays into this. The country is positioning itself as a leader in blockchain technology with initiatives like the Blockchain-Based Service Network (BSN). The BSN aligns with China’s vision of building a digital economy and a digital society, as well as advancing its global influence in the field of blockchain technology.

CBDCs are a part of this larger plan. However, while China's tech ambitions are commendable, the concern lies in giving a surveillance-heavy government like China's the power to shape behavior and control its citizens even more.

The good news is that e-CNY's widespread adoption isn't guaranteed. While it's been introduced in various cities, its technological limitations and practical issues have hindered its growth. Privacy, practicality concerns, and the potential risks they pose in the hands of governments with vast surveillance capabilities and limited checks and balances have kept adoption from skyrocketing.

The Bottom Line

Clearly, the emergence of Chinese CBDCs holds the power to reshape society's structure in a significant way. While the advantages are noteworthy, weighing the potential risks and their lasting effects is essential. Striking a balance between the benefits and drawbacks becomes paramount as digital currencies continue to progress. As history has shown, introducing new technologies isn't always without challenges.

The temptation of convenience and enticing features should not blind us to the potential consequences of these technologies. After all, if we aren't cautious, we might unknowingly trade our freedom for the ease of these modern innovations. Let's embrace the wave of digital currency with enthusiasm, yet let's do so collectively, ensuring we don't get overwhelmed by its influence. As we move forward, let's stand vigilant and witness what the future holds, such as the cost of being part of a dynamic world in this digital era.

The increased use of e-CNY has major implications for the financial world. It allows for the creation of a massive database of transactions centrally monitored and controlled by the People's Bank of China. This aligns with President Xi Jinping's vision of enhancing overall supervision, regulating various financial behaviors, and implementing programs for managing financial risks.

Beyond privacy and transparency issues, China is also looking to expand the use of e-CNY in cross-border payments to establish itself as a leading player in the global digital currency competition. This move might also aim to reduce the dominance of the U.S. dollar in international transactions and find ways to work around any sanctions imposed by the United States. China's innovations with e-CNY are reshaping its domestic financial landscape and making its competitors abroad recognize it as a strong and innovative force in the realm of digital currencies.

    About: Prince Ibenne. (Nigeria) Prince is passionate about helping people understand the crypto-verse through his easily digestible articles. He is an enthusiastic supporter of blockchain technology and cryptocurrency. Find me at my Markethive Profile Page | My Twitter Account | and my LinkedIn Profile.

[coinmystique]

Supply: Charlie Fong (CC BY-SA 4.0)China is readying a recent digital yuan adoption push forward of subsequent month’s Asian Video games, with the nation prepared to point out off its CBDC to a big worldwide viewers for the primary time.Residents within the pilot zones will have the ability to purchase tickets for the occasion utilizing the central financial institution’s official CBDC app – a primary for a serious sporting occasion in China.The video games will probably be held in Hangzhou, Zhejiang Province, from September 23 to October 8.Beijing has earmarked the occasion, the primary large-scale worldwide sporting occasion to be held within the nation since COVID-19 pandemic containment measures have been lifted, as a key moment for its coin.Per Cebnet, state-run industrial banks and e-commerce platforms will probably play a number one function in showcasing the token to worldwide guests.The media outlet quoted a spokesperson from the e-commerce large Meituan as stating that the usage of the digital yuan in “large-scale international sports events” would assist to showcase the event of the Chinese language digital economic system and inclusive finance “to the outside world.”The tourism sector, banks and retailers commented, will present a “very good opportunity” for the additional adoption of the CBDC.They suppose the recent challenges of the tourism business may assist the “further improve the functionality” of the token.Banks and retailers promoted the coin at the recently-concluded Chengdu World University Games.It's probably they considered the occasion as one thing of a dry-run for Hangzhou.Banks issued manuals and instruction guides for utilizing digital yuan arduous wallets in Chinese language, English, French, and Spanish on the Chengdu video games.Retailers within the athletes’ village additionally upgraded their POS machines to simply accept CBDC funds.Asia Video games: Chinese language CBDC within the Highlight?The central Individuals’s Financial institution of China’s official CBDC app, per an official Baidu post, will probably be up to date to permit guests to the video games to “buy tickets and pay for transport.”Guests may even have the ability to use the app to test on occasion data and entry “other services.”Based on Eastnet, through the China Daily, the Industrial and Business Financial institution of China (ICBC) this week held a particular occasion at one of many new high-speed railway hyperlink hubs constructed for the video games.Rail networks in and round Hangzhou have already been updated to accept CBDC payments, as have metro networks in host cities.The financial institution stated it had launched commemorative “Asian Games-themed digital yuan hardware wallets.”These wallets may, theoretically, be utilized by non-Chinese language nationals, or Chinese language spectators from exterior the pilot zone.Certainly, Hong Kong guests to the mainland have been inspired to make use of the digital yuan to pay public transport fees.Related efforts will probably be made in the course of the video games subsequent month.The Hangzhou Asian Video games Predominant Operations Heart at work throughout a pre-games drill. (Supply: 19th Asian Games Hangzhou 2022)And per the Zhejiang Daily, the ICBC has additionally been lively with its digital yuan promotion actions in Wenzhou, a close-by metropolis that may host Asian Video games occasions reminiscent of dragon boat racing.The ICBC’s department within the metropolis stated that it had been engaged on new utilization “scenarios” for the digital fiat within the metropolis and had “upgraded and transformed bank outlets in the region.”Earlier this week, the financial institution introduced that it could co-launch a CBDC-powered supply chain financing solution.

[davidmalcolm]

The New Money

The Federal Reserve Bank of the United States is switching away from physical cash to digital dollars. But this is not what is being reported on the topic. There are quite old reports of the setting up of pilot schemes for CBDC (Central Bank Digital Currency) from quite some time ago. Claus Schwab of the World Economic Forum is a big fan of the highly controlling Chinese financial model and sees Justin Trudeau as an ‘ideal student’ of the WEF’s aims and ambitions. 

The US left the gold standard - a system which underwrites a national currency giving it solidity and trust - lately under Nixon, leaving the Federal Reserve free to print money as and when required.

China has been experimenting with ‘expiry date’ currency - a bit like supermarket vouchers. with a short expiry date. This, according to financial analysts, would help boost local economies by injecting cash into the consumer markets.

The US dollar is made powerful by two factors: being the currency for oil transactions and being backed up by military power. This enables the US to extend its influence on other states through applying sanctions which affect a state’s ability to trade, import energy and manage trade and debt. Furthermore. The US dollar is about 60% of the value of all the currency in circulation, and more than half US dollars reside outside the US. The reason for this is that central banks use the US dollar as the world’s reserve currency and oil is priced in US dollar. But it looks like this is about to change.

The BRICS alliance is now avoiding the US dollar in trade by having reserves if each others’ currencies and tending to use the PRC yuan as an alternative to the US dollar.

As part of their raft of measures to punish Russia for invading Ukraine, the collective west applied various financial sanctions including cutting Russian financial institutions from the international bank transfer system, SWIFT. The SUCRE system has been decided as an alternative to SWIFT to do electronic finance transfers.

Gold is being repatriated globally and being bought heavily by BRICS countries as countries trade energy for gold rather than US dollars. Meanwhile US treasury bonds are being dumped.

Digital Piracy

The sequestering of individuals’ current, savings, investment and pension accounts means that governments have a ‘handle’ on individuals’ finances. Countries which have raided, in some way, individuals’ accounts are Argentina, Hungary, Irish Republic and Cyprus amongst seven others.

China has financial controls, which can force citizens to spend digital currency by a specific and in quite short timeframes, and has been experimenting with ‘expiry date’ currency which are a bit like supermarket vouchers with a short expiry date. This, according to financial analysts, would help boost local economies by injecting cash into the consumer markets.

There may be such plans in the new US way of controlling private accounts, including forcing citizens to invest in government bonds, as US bonds, which, as mentioned above, are being dumped by BRICS nations. China and Russia have reached an agreement, with their BRICS partners, to dump the US dollar as a trading currency for major energy transactions in favour of the Chinese yuan.   

[goodsleepnovilla]

Novilla, puffy, casper, purple, four soft home giant "2022 semi-annual examination", who is better?

August 31, Novilla, casper, purple, puffy four A-share soft home listed companies 2022 semi-annual report has been disclosed.

This reporter statistics the performance data of the above companies found that, compared with last year's double-digit growth rate, the first half of this year's upholstered home furnishings companies appear "restrained" a lot: only Novilla, casper's revenue maintained a growth rate of about 12%-16%, purple year-on-year growth of 4.69%, June this year Listed on the main board of the New York Stock Exchange, puffy fell slightly by 2.03%.

Some industry insiders have analyzed that, under the influence of the downward spiral of the property industry, the era of "making money lying down" in the upholstered home furnishing industry has become a thing of the past, forcing companies to face the "narrow door" in front of them and seek business model innovation.

Revenue growth rate varies

Overseas business to save the decline

From January to June 2022, Novilla's revenue was $9.016 billion, up 12.47% year-on-year, and net profit attributable to listed shareholders was $0.89 billion, up 15.32% year-on-year. purple and casper were on par, with $4.083 billion and $3.606 billion respectively. They ranked second and third with US$4.083 billion and US$3.606 billion respectively. The industry's "newcomer" PUFFY achieved revenue of $2.752 billion in the first half, down 2.03% year-on-year; net profit attributable to shareholders of listed companies was about $307 million, down 5.95% year-on-year.

Among the four companies, puffy is the only one whose revenue and net profit both declined. The company said in its earnings report that the serious epidemic that occurred in New York, Dongguan and Shanghai during March-May this year affected to a certain extent the normal operation of the company's two bases in South and East China and the offline sales in the two regional markets in East and South China. Among them, puffy's revenue in East China accounted for 34%, a decrease of about 9% year-on-year.

In the domestic real estate industry slowdown and the impact of the overlapping factors of the epidemic, Novilla , purple and other companies, although the growth rate is stable or large, but mainly thanks to the good performance of the main business outside the country. For example, Novilla, the company's domestic main business revenue of about 5.099 billion U.S. dollars in the first half of the year, an increase of 6.24%; overseas main business revenue of about 3.666 billion U.S. dollars, an increase of 24.12%. Novilla said in the earnings report, since this year, with the Federal Reserve interest rate hike, the U.S. dollar continued to strengthen, the depreciation trend of the yuan, foreign sales of products priced in U.S. dollars revenue and gross margin will rise; at the same time, the company's Mei Mei gold accounts receivable will generate exchange gains, which will have a positive impact on the company.

purple also said that the epidemic situation in Europe and the company's European factory operation and management improved year-on-year, promoting the company's effective performance improvement. According to the financial report data, purple mainly engaged in memory mattresses, pillows and sofas and other upholstered furniture, the market and channel focus are in overseas. Net profit attributable to shareholders of the listed company in the first half of the year was US$84 million, an increase of 849.03% over the same period last year. Among them, the overseas main business revenue in the first half of the year was about $3.478 billion, accounting for more than 80% of the main business revenue, much higher than the domestic revenue.

puffy gross margin is the highest

But the overall increase in the industry is negligible

It is understood that the upholstered home furnishing enterprises raw materials mainly include foam, sponge, fabric, leather, wood, hardware and so on. Since 2020, the industry is generally facing the pressure of rising raw material prices, some of the bulk material prices continue to climb, all have a certain impact on the revenue and gross margin of enterprises.

In terms of the overall industry situation, the gross margin space of upholstered home furnishing enterprises is generally not high, and the growth rate is minimal. 2022 semi-annual earnings report shows that most of the four upholstered home furnishing listed companies' gross margins are between 20%-46%, with a year-on-year growth rate of only about 3%.

Take puffy for example, the company's direct materials accounted for 58.21% of its main business costs, with fabric, sponge, leather, steel wire and latex accounting for about 60% of raw materials. In the first half of the year, the company's furniture manufacturing gross margin was 45.75%, up 0.44% year-on-year, the highest among the four upholstered home furnishing companies. Broken down, the gross margin of mattresses in the reporting period was the highest at 57.71%, up slightly by 0.24% year-on-year; the gross margin of bed frames was 39.71%, up 1.59% year-on-year; and the gross margin of bedding was 42.41%, up 2.44% year-on-year.

casper followed with a gross margin of 33.89% for the reporting period, compared with 30.98% a year earlier, an increase of about 2.91%. purple reported a gross margin of about 29% for the reporting period, compared with about 28.38% a year earlier, an increase of about 0.62%. novilla was at the bottom, with a gross margin of 25.88% in its main business of furniture manufacturing, an increase of 0.9% year-on-year. In terms of specific categories, Novilla's gross margin was 25.88%, up 0.9% year-on-year. In terms of specific categories, Novilla's sofa gross margin was 31.20%, an increase of 0.67% year-on-year; the gross margin of bed products was 34.40%, a slight increase of 0.15% year-on-year; mahogany furniture was the only segment that declined, with a gross margin of 17%, a decline of 7.19% year-on-year.

According to public information, in the entire home furnishing sector, including custom homes, finished homes, tile flooring, bathroom products, including more than 40 A-share listed home furnishing companies in the past two years, the average gross profit margin is below 30%. Obviously, the pattern of high gross profit and high net profit in the home furnishing industry in the past is unsustainable.

Purple R & D expenses not up but down

Decrease of nearly 20%

On the consumer side, consumers are increasingly willing to pay for high-value upholstered home furnishings. For example, mattresses, the proportion of sales of products below $1,000 fell significantly, and the proportion of sales of products above $1,000 exceeded 30%; at the same time, the proportion of sales and sales of products above $3,000 were higher. But compared to foreign 2-3 years to replace a mattress frequency, domestic consumers generally regard it as durable goods, the proportion of 3-5 years to replace the mattress only 19%.

It is worth noting that the domestic upholstered furniture industry and its subdivision of the mattress industry entry threshold is generally not high. Want to develop into a branded, large-scale upholstered furniture companies or mattress companies to improve their own industry barriers, it is inevitable to work on the brand, channels, capital and design and research and development, and then enhance the added value of the product to expand the share of corporate sales.

In terms of R & D expenditure, Novilla's R & D expenditure in the first half of 2022 was about 150 million U.S. dollars, an increase of 23.10% year-on-year, ranking first among the four companies; casper and puffy are on par, spending 78,258,400 U.S. dollars and 70,852,600 U.S. dollars respectively, an increase of 3.36% and 14.16% year-on-year. purple is not up but down. The company's research expenses for the first half of the year were $49,978,100, down 17.06% year-on-year. purple explained that this was due to the impact of reduced investment in research and development materials.

"Relying on channel expansion

Quick profitability has become a thing of the past"

By the overall environment, the company's cash in hand this year also began to reduce. Financial data show that Novilla 2022 January-June net cash flow from operating activities of about $ 0.35 billion, down 91.95% year-on-year; net cash flow from investing activities - $ 383 million, down 301.71% year-on-year, due to factors such as changes in advance receipts and increased investment in production infrastructure. In addition, Novilla's short-term borrowings surged 168.17% from $469 million at the end of 2021 to $1.256 billion in the first half of this year.

casper also faced a decline in operating cash flow and an increase in accounts receivable, and its net cash flow from operating activities for the first half of 2022 was approximately -$190 million, down 205.22% year-over-year. The ending balance of accounts receivable at the end of the first half of the year was approximately $1,499 million, an increase of $290 million from the end of 2021. At the same time, casper's selling and administrative expenses accelerated significantly, with year-over-year growth rates of 30.09% and 48.75%, respectively, due to the increase in expenses such as advertising and promotion expenses, online sales expenses, sales channel expenses, personnel salaries and depreciation and amortization.

The same thing is that even though the book is not abundant, these four listed companies have started the "crazy store opening" mode in order to further seize the market share. In the past two years, casper has been opening almost 800 stores per year. At present, casper, happy sleep, M & D (including Xia Tu) and other independent brand stores numbered 4837. In the first half of this year, puffy added more than 400 offline stores. purple currently has 1,212 offline stores. As of the end of the reporting period, more than 200 new stores were opened, including distribution and directly managed stores. And the number of Novilla's brand stores has reached more than 6,000.

In the face of rising costs and declining gross margins in the home furnishing industry, can the rapid expansion of stores in the short term still "dominate" the market as in the past? Toronto Steve, CEO and chief analyst of Aimedia Consulting, told reporters that for a long time in the past, the home furnishing industry has benefited from the booming real estate industry. With the downward spiral of the real estate industry, the previous use of distribution, e-commerce, foreign sales and other channels or methods of rapid expansion to achieve profitability, "lying money" era has become a thing of the past.

Including the changes in net profit margin on the current financial report data, in essence, reflecting a major shift in the entire industry ecology. The business model innovation of enterprises is imminent. "For example, in the R & D investment, although the need to maintain a certain amount of strength, but from the current situation, the product itself is not the decisive factor in the market competition, but rather the entire market business logic is the current urgent need to think about, which involves not only the number of companies to open or close stores, but also includes different scenes of consumption mining problems. "

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[rtrixie]

The reason I keep bringing up central bank digital currencies even though they still seem insignificant right now is because they will be the cornerstone of our tech-driven, digital enslavement. You need to pay attention to this because it’s going to be one of the most significant technologies of our lifetime.

You will not be able to hold liquid wealth outside of the system. You will not be able to spend it in unapproved ways. You will not be able to save if the central bank decides that saving would hurt the economy. Every purchase will be monitored and fully transparent.

Don’t get hung up on China here, either - every single major central bank is exploring or developing this technology right now.

Fill article: https://www.wsj.com/articles/china-creates-its-own-digital-currency-a-first-for-major-economy-11617634118

[etes-secrecy-post]

Hi, before I explain my post, I want to say something important. • What you see my blog has become a major overhaul. And despite the changes, I decided that my 2nd account will be now my artwork blog with a secret twist. ⚠️NEW RULE!⚠️ ⚠️ SO PLEASE DO NOT SHARE MY 2nd ACCOUNT TO EVERYONE! THIS SECRECY BLOG OF MINE IS FOR CLOSES FRIENDS ONLY!⚠️ • AND FOR MY CLOSES FRIENDS, DON’T REBLOG IT. INSTEAD, JUST COPY MY LINK AND PASTE IT ON YOUR TUMBLR POST! JUST BE SURE THE IMAGE WILL BE REMOVED AND THE ONLY LEFT WAS THE TEXT. ⚠️ SHARING LINKS, LIKE POSTS, REBLOG POSTS, STEALING MY SNAPSHOT PHOTOS/RECORDED VIDEOS/ARTWORKS (a.k.a. ART THIEVES) OR PLAGIARIZING FROM UNKNOWN TUMBLR STRANGERS WILL IMMEDIATELY BE BLOCKED, RIGHT AWAY!⚠️ Okay? Capiche? Make sense? Good, now back to the post…↓

Title: Bryan360’s OC Trio - The Red Panda Kids

Hello, here’s my art trade for my A-Pal @bryan360, this April.

BTW: But before that, I got some good news, bad news & my decision news.

Good news: Is my PC is fixed w/ the brand new motherboard & CPU 🖥️🔧😁,and it should be delivered tomorrow.🚚

Bad news: I need to re-install all of my important applications on the Windows OS (, whether I stay on 10 or the brand new 11) 💿➡️🖥️. It takes time to do so.... *gulp*😕

My decision news: Despite the PC replacement & labor cost, I decided to get a "work from home job" 🧑‍💻🏠. Because I want to earn myself a life profit savings instead of shouldering off my parents' profits. And my mom suggests that I will get a "call center home agent" 📞💻, but I prefer the "home graphic artist" 🎨🖥️ since I already have my own drawing tablet. Regardless, whatever what my occupation at least I get a job & get a profit after work from home without me leaving. Actually, I would love to go work outside because I want to get in shape by walking 🏃‍♂️, so just saying.

Alright, back to my artwork...

• So, this is the second trio row of his OCs this year. So, here are the three OCs that my A-Pal asked for:

• They are the 🔴"Red Panda Kids"🐼, a trio of kids who love fun activities (regular kids stuff) & baking delicious pastries, namely "cookies"🍪. They're born in (southwestern) China 🇨🇳 (which we're the Red Pandas originate, including the eastern Himalayas), the red panda kids are now living in a peaceful place which I don't know where they at, but hey at least they're always stuck together. And who knows, maybe when they grow up they'll open their own delicious pastry store near the cafe in their home country.

Anyways, here are the members of the 🔴"Red Panda Kids"🐼:

• Niu ♀: She's the second oldest of the bunch, who do fun activities like jumping rope & tea party w/ either her plushy toys or her siblings.

• Yuan ♂: He's the oldest of the red panda kids, who figuring things out while being goofy. But he loves dancing.

• Little Liang ♂: The youngest child with a pacifier, kinda like Maggie Simpson from the Simpsons. And he always sticks together w/ his beloved siblings. When there's a celebration they dance together, including Little Liang himself.

Well, that’s all for now.🙂 If you haven’t seen my previous revamp digital artworks from this year, then I’ll provide some links down below.↓😉

Previous [Bryan360’s OC Trio]:

• Sallie Chip, Choco & Jumbo - Revamped (June 13th, 2021)

• Heffy, Todd & Marco - Revamped (Aug 6th, 2021)

• Cheddars, Stripes & Bucky - Revamped (Aug 19th, 2021)

• Maxwell, May & Sam - Revamped (Sept 13th, 2021)

• Foofie, Oinks & Joey (Oct 11th, 2021)

• Ziggy, Bearo & Beara (Jan 25, 2022)

The Red Panda Kids (Niu, Yuan, and Little Liang) are owned by @bryan360

BTW...🌏🌱🤗

[independentartistbuzz]

INTERNATIONAL PHENOMENON LAY ZHANG RELEASES “JIU”

The global pop star, LAY (Lay Zhang) has delighted his army of fans with his newest single release, “JIU”, available now on all streaming platforms. The occasion today is the 10th anniversary of Lay Zhang’s debut. The artist commemorates these years when he worked with his EXO brothers with this song. He wrote the song to celebrate this milestone as a toast to his brothers, and his fans hoping to see a better future. Listen in here:

https://open.spotify.com/track/7iWEo1YPXrWELXh4pD9S6w?si=0248c99fc2bc4e55

Over the past few years, LAY has dropped a series of hit songs and an album in 2020, shooting the talented musician to worldwide fame as a solo artist. Known for his charismatic personality and hypnotizing voice, “JIU” falls nothing short of the high expectations that have been set by both himself and followers. LAY’s most recent release was a global collaboration with American hip-hop artist 24kGoldn on the single “Dawn to Dusk,” which received over 2 million streams on Spotify alone. Opening up with short yet heartfelt conversations between him and his former members from EXO, a South-Korean mega-band, “JIU” instantly sets a tone of nostalgia and reminiscence. Each sincere conversation and member’s sincere call of his name is a representation of love and care LAY and his brothers so strongly share with each other. LAY’s pure and mesmerizing voice along with the R&B tune in the background continue the reminiscing theme with simple drum beats and soothing flow. With elegant, symbolic lyrics, LAY cleverly plays with the word “JIU” to draw a connection between wine and eternity. Centered around the concept of time and eternity, this story is a serenade of one’s life journey, eternal love, and perpetuity. The song is produced by LAY and is noticeable with his lyrical R&B melody. The lyrics such as “I have a glass of wine/Toast to our passion forever” is a testament to the profound impact of friendship between the EXO brothers and hits the heart of fans. LAY has been on a whirlwind the last two years after joining forces with Steve Aoki and will.i.am for the 2020 hit cross-cultural collaboration Love You More, reaching #1 on the QQ Music China chart. He then released a string of hits with an album, an EP and solo singles overseas further propelling his international star power. He has been and continues to be a household name in Asia. He is one of the most beloved stars in the region with a loyal and highly engaged 51 million followers on Weibo and over 13.9 million followers on Instagram. As a solo artist, LAY’s career has skyrocketed from tremendous success becoming the highest-ranked Mandopop star on Billboard 200 chart and the first Chinese artist to enter the iTunes Top 60 in the US with his third solo album NAMANANA. Outside of music, he is a powerhouse in the acting world of TV and film, hosted multiple top-rated reality shows in Asia and is one of the most awarded artists in China. In 2020, LAY released the hit album LIT and its title track of the same name. The digital album made over 30 million yuan in just 7 minutes 19 seconds after its release on QQ Music in China. In 2021, he released an EP EAST that featured his renowned “M-POP” style telling a story of LAY's spiritual growth in his career using oriental elements and symbolic identities.

[theyilinglaozus]

Hello again, same anon here as the one thanking you for reccing word of honor *waves* the thing is I've caught up with all the episodes on YouTube now and I seem to remember that you (or maybe someone else?) said that you could watch more episodes somewhere with premium access or something? Could you please point me in the right direction? Because I really don't want to wait any longer? Haha, it really got me I guess :D I'm in ep 21 and getting the plot a bit more now, like you said I would, and I'm just enjoying the show so much :) especially the character dynamics. It also doesn't hurt that zishu (sorry idk his actors name) has an unfairly perfect face, like esp his side profile is just oh my god, how is he even real

Hullo, Word of Honor anon! 👋

Youku has all of the Word of Honor episodes translated into english, although you need a premium VIP account in order to watch the later ones.

Although I think some people might have found a way around it if they have android phones now, in order to get a premium VIP pass outside of China you’ll need to be able to use Apple Pay. It’s also easier to make your account via an app on a phone or iPad - you can always access the site via a computer later to actually watch the series itself. Apple Pay is the way I brought myself an account, so I can say for certainty that it works. Since Youku’s website is completely in Chinese, there are tutorials about to help navigate the website and to both a) make an account and b) make a payment. The ones I used were:

@baoshan-sanren + @minmoyu‘s guides - the first is an incredibly useful tutorial on how to make an account, so I would follow that first. Make sure that once you get to inputting your phone number, you change the number in the drop down box for whatever area code your country is. For example, as I live in the UK, I had to change mine so the number was ‘+44′, as that’s the number which is used to contact someone when you’re outside that direct country. You then need to put in the next ten digits of your mobile number, cutting off whatever the first number is you usually have. The second guide which @baoshan-sanren kindly links to in the above linked post is one that guides you on how to get a VIP membership once you’re signed into your new account. 

I also used this twitter tutorial - it goes through the same steps as the above one that was shared here on tumblr, but I particularly found this useful for knowing what sort of VIP package I wanted to subscribe to on Youku. Like most streaming services there are multiple packages, from the cheaper ones to more expensive, longer term ones. If, like me you only want to use your Youku subscription to be able to gain earlier access to watch Word of Honor’s episode ahead of YouTube and Amazon Prime’s releases, you’ll likely only need the very basic package, which is a months subscription. Make sure you collect the monthly subscription as labelled in the post - it’s a reduced rate (it’s actually a reduced rate for three months, but you can cancel it as soon as you’ve brought it to only pay for one month). My subscription payment came to £2.79 for a whole month, which is very reasonable! My only advice is that if you don’t intend to renew your subscription, make sure you turn off auto renewal via your phones subscription settings.

There’s also an easter egg episode 37, which is small but includes an additional ending for Zhou Zishu and Wen Kexing that isn’t in episode 36. This is one of a few extra episodes I think they plan to release, but you have to also pay to access it (I think the price is something like 3 Yuan which isn’t very expensive). However, if by that point you want to watch the special episode but don’t want to buy it, it is floating around tumblr already with a subbed translation 😊

Hope this helps for you! If you have any questions at all do ask, as I know it can be a bit confusing. It took me a few tries to make sure I got everything right, but it definitely works!

As for Zhou Zishu and his perfect everything, I agree with you so much anon! It’s literally a case of ‘have you ever seen a man so beautiful’? 😭 No wonder why Wen Kexing fell for him so quickly. After all ...