GT Online: Abandoning Alibaba, Jingdong Chosen as Digital RMB Pilot Site

Written by: Ermat

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Surprisingly, Jingdong was chosen as the pilot site for the digital yuan instead of Alibaba, NetEase reported on Jan. 8.

While Jingdong’s revenue in 2020 was a whopping $745.8 billion, Alibaba’s revenue was only $644.2 billion. But the net profit of the two is exactly the opposite. Alibaba net profit is up to 149.263 billion yuan,  while Jingdong is only 42.405 billion yuan. And Alipay, the mobile payment means strongly promoted by Ali, has more than 1 billion users worldwide. It is arguably one of the most important means of payment.

So this choice should be closely related to the infighting between Xi Jinping and Jiang Zemin. The removal of “DDT” and the purge of Alibaba are good examples. Alibaba is controlled by the Jiang family. Of course Xi Jinping would not choose it. Whoever controls the digital RMB controls the future of China’s economy.

The CPC plans to launch digital RMB at the Winter Olympics. At that time, it is said that it could bring great convenience to athletes with digital wallets in terms of transportation, accommodation, catering and shopping.



Disclaimer: This article only represents the author’s view. Gnews is not responsible for any legal risks.

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