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IPFS News Link • China

Why other countries are giving China a licence to print money

•, by Stephen Chen

China is printing foreign currencies on a massive scale as Beijing seeks to increase its influence on the world economy and geopolitics.

Multiple sources in the China Banknote Printing and Minting Corporation confirmed to the South China Morning Post last month that money production plants across the country were running at near full capacity to meet an unusually high quota set by the government this year.

Most of the demand comes from participants in the "Belt and Road Initiative" and one source, who requested not to be named due to the confidential nature of the information, said Chinese yuan bills only made "a small proportion of the orders".