On Nov 30, 2020, the Bank of Shanghai posted a notice, saying that starting from 24:00 on December 1, 2020, its international money transfer for personal banking will be suspended until further notice. Other business at the Bank of Shanghai proceeds as usual.
The Bank of Shanghai belongs to the former CCP chairman Jiang. According to the Epoch Times Hongkong, the largest shareholder of Shanghai Bank is Shanghai Union Investment Co. Ltd, which was founded and controlled by Mianheng, Jiang’s eldest son.
So what did this notice tell us? Does this mean that the Bank of Shanghai has run out of foreign currencies, mainly the US Dollars？
In China, power means everything. Being in the power means that you can take away money from the Chinese financial system in the name of “borrowing”. If Jiang is keeping a tight grip on the Chinese political system, there will be no problem at all for his bank to be financed by the Chinese financial system.
So this notice implies that Jiang is being defeated by the current CCP leader Xi. What will happen next? Purge and blood.