The November 7th episode of the “”Fay Fay Show”” further unveiled the inside story of the fall of Fan Yifei, the first major official to be purged since the 20th CCP Congress, Fan’s case also highlighted the fact that no matter how high or low his official position or how much he contributed, he could not escape the meat-grinder mechanism of the CCP regime. As Wang Qishan’s most trusted accomplice, Fan Yifei is not only in charge of the Payment Department, Science and Technology Department, and Monetary, Gold and Silver Bureau of the People’s Bank of China(PBOC), but also in charge of the Digital Currency Research Institute of the PBOC, and has been working with the Hong Kong Monetary Authority, the Central Bank of Thailand, and the UAE Central Bank to develop the m-CBDC Bridge project, which is the application of digital RMB in cross-border payments.
It can be said that Fan Yifei is a de facto financial authority with privilege in the financial system of Communist China including rule-making, decision-making, and vetos. However, such a high-ranking official can still be mercilessly purged by the CCP’s system and made a prisoner.
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