China Sends DIRECTIVE To Citizens – Look What It Says
(RightWing.org) – The United States and Western allies have imposed crippling sanctions on members of Russian President Vladimir Putin’s inner circle in the wake of his February invasion of Ukraine. As a result, billions of dollars in assets belonging to the Russian elite have been seized or frozen. To counter similar sanctions, the Chinese Communist Party (CCP) recently announced a ban on foreign investment and financial services for senior cadre members.
In March, the CCP’s Organization Department issued a directive prohibiting ministerial-level officials and their family members from setting up accounts with foreign financial institutions unless their work or study programs required it. Likewise, the order prohibits holding any real estate or shares in overseas entities. In addition, the powerful Organization Department requires senior officials to sign a pledge confirming their compliance with the ban.
A Chinese Communist Party directive bars senior officials from owning property abroad or stakes in overseas entities, whether directly or through spouses and children https://t.co/60QTMPY8TO
— The Wall Street Journal (@WSJ) May 20, 2022
It remains unclear whether the directive is retroactive. However, some senior officials and family members have already started selling their shares in foreign companies and real estate holdings and closing overseas accounts.
The Wall Street Journal reported that Chinese President Xi Jinping is promoting the restriction to “minimize geopolitical risks for the [CCP]” amid mounting concerns the US and its allies could target China.
What do you think? Is China expecting the US to impose additional sanctions over its policy regarding Taiwan?
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