China Orders Officials To Find Ways To Protect The Country From Western Sanctions Like Those Used Against Russia

Beijing had been put on alert by the ability of Washington and its allies to freeze the Russian central bank's dollar assets. (Shutterstock)  

Daily Mail: Is China preparing to invade Taiwan? Beijing orders officials to find ways to protect the nation from western sanctions like those used against Russia 

* China held an emergency meeting with regulators in anticipation of sanctions 

* The regime is seeking to protect its $3.2trillion in foreign currency reserves 

* Banking officials from HSBC and other international lenders were invited 

* The West is said to be considering sanctions in the event China invades Taiwan 

* China has stepped up military activity in the region as the US held high-level talks with its allies, including the UK, over the possibility of a Chinese invasion 

Chinese officials are looking at ways to defend the country from economic attack if the West should look to sanction China in the same way it did Russia — stoking fears the nation is preparing for an invasion of Taiwan. 

China's regulators held an emergency meeting on April 22 between officials from China’s central bank, the finance ministry, domestic banks operating within China, and international lenders such as HSBC. 

The West's harsh economic sanctions on Russia prompted the emergency meeting, with the Ministry of Finance stating that President Xi’s administration had been put on alert by the surprise dollar freeze.  

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WNU Editor: China is not focused on Taiwan right now. Their focus is on Covid and blowback from the West over their support of Russia .... Chinese tech firms may leave Russia, Ukraine to cut sanctions risk: experts (SCMP). And China has reason to be concerned. Russia has approximately $630billion frozen in place by foreign sanctions, China, by contract, is the world's largest holders of foreign currency reserves, holding $3.2trillion in foreign currency reserves (according to the IMF). 

China Orders Officials To Find Ways To Protect The Country From Western Sanctions  

China is working to protect its overseas assets amid fears the US could impose Russia-style sanctions, reports say -- Business Insider

China Holds Emergency Meeting with Top Bank Executives Amid Concerns of Potential US Sanctions -- Al Bawaba

China Discusses Protecting Assets From U.S. Sanctions With Banks -FT -- US News and World Report 

China Holds Internal Meeting With Top Bank Officials Amid Fears Of Potential US Sanctions -- Republic World