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In Yis first public comment since gaining the position, he echoed this sentiment, saying that he welcomes openness in the market because closed markets become backward, which invites risk. According to Bloomberg, he also said: Some institutions conducted illegal financial business without a financial license, and some illegal financial activities expanded rapidly under guise of innovation.
I wondered if this was a reference to cryptocurrency. Contradictory. Reading about events in China, things often seem contradictory.