Hong Kong companies invest in bitcoin

1. In China, no competent department has made clear its position on bitcoin, which leads to its crazy and disorderly development in reality. Some websites use bitcoin to engage in illegal activities such as gambling and foreign exchange trading. There are also some websites using bitcoin for illegal fund-raising or fund-raising fraud. On October 26, 2013, the website of GBL bitcoin trading platform registered in Hong Kong was closed, and the relevant operators disappeared. The platform has previously attracted a large number of investors to invest in bitcoin
at present, the disorder of bitcoin trading in China needs to be cleaned up and rectified. This kind of clean-up and rectification has sufficient legal basis
1. The "transaction" and "circulation use" of bitcoin violate the law of the people's Bank of China of the people's Republic of China. Article 16 of the law clearly stipulates that "the legal currency of the people's Republic of China is RMB", and the institution that "issues RMB and manages the circulation of RMB" is unique, that is, the people's Bank of China; Article 20 stipulates that "no unit or indivial may print or sell token tickets to replace RMB in circulation on the market.". In fact, bitcoin has the function of "token", and the network platforms and merchants that conct bitcoin transactions have violated the provisions of the law, which should be investigated and dealt with in accordance with the law
2. Bitcoin's "trading" and "circulation and use" violate the foreign exchange regulations. Article 3 of the regulations clearly defines that "foreign exchange refers to the following payment means and assets expressed in foreign currency that can be used for international settlement, including foreign currency payment vouchers or payment instruments, including bills, bank deposit certificates, bank cards, etc.". Article 8 clearly stipulates that "the circulation of foreign currency is prohibited within the territory of the people's Republic of China, and foreign currency shall not be used for valuation and settlement.". Article 45 clearly stipulates: "those who buy or sell foreign exchange without permission, in disguised form, buy or resell foreign exchange, or illegally introce foreign exchange to buy or sell a large amount of foreign exchange shall be given a warning by the foreign exchange administration, their illegal income shall be confiscated, and a fine of less than 30% of the illegal amount shall be imposed; If the circumstances are serious, a fine of not less than 30% of the illegal amount shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law. ". Bitcoin, as an international means of payment recognized by many countries, should be subject to the regulation. Websites and businesses engaged in bitcoin trading and use should be investigated and dealt with in accordance with the regulation< Third, bitcoin does not belong to the "virtual currency" defined in Chinese laws and regulations. Many bitcoin trading platforms claim to operate legally according to the relevant laws and regulations of China's "virtual currency", which is wrong. In 2009, the Ministry of culture and the Ministry of Commerce issued the notice on strengthening the management of virtual currency of online games, which clearly defined: "the virtual currency of online games mentioned in this Notice refers to the virtual currency of online games issued by online game operation enterprises, which is directly or indirectly purchased by game users using legal tender in a certain proportion, and exists outside the game program, It is a virtual exchange tool that is stored in the server provided by online game operators in the form of electromagnetic records and expressed in specific digital units. " The "notice" also makes it clear that "the use scope of online game virtual currency is limited to the virtual services provided by the issuing enterprise itself, and shall not be used to pay for, purchase physical procts or exchange for any procts and services of other enterprises". Bitcoin is not issued by game enterprises, and it can be exchanged for physical and currency. It can be seen that bitcoin is completely different from this kind of "virtual currency" and does not belong to the "virtual currency" stipulated by law. Even if it is engaged in the trading service platform business of "virtual currency", it is necessary to apply to the cultural authorities for the establishment of an operating Internet cultural unit for administrative license in accordance with the provisions. In the application report, it is necessary to specify the service (platform) mode, user purchase method (including cash, bank card, online payment and other purchase methods), user rights and interests protection measures, user's rights and interests protection measures Binding of user account and real name bank account, technical security measures, etc
so far, no bitcoin trading platform has obtained and is unlikely to obtain such administrative license
4. Bitcoin trading platform violates the telecommunication management regulations such as the telecommunication management regulations and the measures for the administration of Internet information services, which constitutes "illegal business operation"
Article 7 of the regulations on the administration of telecommunications clearly stipulates that "the State implements a licensing system for the operation of telecommunications business according to the classification of telecommunications business. In order to operate telecommunication business, a telecommunication business license issued by the competent department of information instry under the State Council or the telecommunication administrative agency of a province, autonomous region or municipality directly under the central government must be obtained in accordance with the provisions of these regulations. No organization or indivial may engage in telecommunications business without a telecommunications business license. " Internet information service is one of the value-added telecommunication services restricted by the law Article 4 of the measures for the administration of Internet information services stipulates that "the State shall implement a licensing system for operating Internet information services; The non operating Internet information service shall be put on record. Those who have not obtained permission or have not gone through the filing proceres shall not engage in Internet information services. " Bitcoin trading platform collects "transaction fees" or "withdrawal fees" or engages in "related advertising business", which belongs to "operating" Internet information service business
bitcoin trading platform has neither obtained nor is it possible to obtain "operating license for operating Internet information service business", and some websites have not even put it on record. This behavior constitutes "illegal business operation" according to law, and should be investigated and dealt with according to law< 5. Those who use bitcoin to engage in gambling, money laundering, bribery, fund-raising fraud and other illegal acts shall be punished in accordance with the relevant provisions of the criminal law of the people's Republic of China. Bitcoin's "value function" and "use function" make it become the "object element" of criminal behavior, and the criminal behavior related to bitcoin should not be placed outside the legal jurisdiction
no one can say for sure what the future of bitcoin will be. However, under the current financial management system of "foreign exchange can not be freely circulated and exchanged" in China, with the high incidence of corruption and economic crimes, it is impossible to seek the legitimacy of bitcoin trading platform, and it is sooner or later to clean up and rectify bitcoin trading platform. However, the sooner things come, the better. If they are delayed, more bitcoin trading platforms will collapse, more "investors" will lose all their money, and a large number of cases of "illegal business operation crime", "illegal fund-raising crime" and "fund-raising fraud" will be investigated to quell public indignation
if the relevant authorities think these bitcoin trading platforms are legal, they should also make a clear statement to give the operators of the relevant platforms a "talisman" to avoid "settling accounts in the future"
quoted from lawyer leiteng's blog

2. There are a lot of bitcoin companies in Hong Kong, and many branches of big bitcoin companies in China are in Hong Kong. In Hong Kong, the legal system is relatively open. For example, Hong Kong's well-known bitcoin exchange 796, China currency exchange. The branches of bitcoin e-commerce platforms, such as coin, fire coin and okcoin, are all located in Hong Kong. Hong Kong is a paradise for bitcoin companies

in China, bitcoin is defined by the central bank as an Internet commodity, not a currency. Third party payment institutions are forbidden to provide services for bitcoin payment and clearing, as are domestic banks. Taobao banned the sale of bitcoin related procts. Bitcoin is in a tightening period of domestic policy

at present, bitcoin has gone down all the way and entered a long-term downturn. mining is not a profiteering instry, and mining can only compete with energy consumption and electricity prices. The 28 nm Avalon and ant chips have some advantages in energy consumption.

3.

BTCC, China's first bitcoin trading platform, has been acquired by Hong Kong based blockchain investment fund company

in a statement released this week, BTCC confirmed its acquisition by Hong Kong blockchain investment fund. Although the details and terms of the acquisition have not yet been announced, it has brought the former bitcoin giant back to life. BTCC, formerly known as BTC China, is a bitcoin trading platform with a long history of global operation. It is the first digital currency exchange in China and the largest one ever

BTCC explained that the acquisition will help the company shift its focus to the international market, as China's restrictions have led to the general closure of domestic digital currency exchanges

BTCC, like other bitcoin start-ups in China, was first reviewed by relevant departments in January 2017 after central bank officials concted field visits to a number of domestic exchanges. As a result, BTCC suspended users' bitcoin extraction service in mid February and did not reopen until June. In mid September, Chinese authorities ordered the closure of the bitcoin exchange, and BTCC suspended user trading before it closed on September 30, 2017

4. At present, there are no listed bitcoin companies in China or even in Asia. As far as I know, the only bitcoin company listed in the world is veribank group. It is a bitcoin company in Russia, which has obtained more than 20 million US dollars of financing. In the past, it mainly researched and developed and sold mining machine chips and g its own mines. Now they have evolved into a comprehensive bitcoin company

there are no listed bitcoin companies in Hong Kong, but there are many bitcoin companies in Hong Kong. Hong Kong is more open-minded than bitcoin. In China, bitcoin is defined as a special Internet commodity by the central bank, which denies its monetary attribute, but people can buy and sell it freely at their own risk. Bitcoin home network has related to the introction of bitcoin companies, you can go to a simple understanding.

5.

When you heard that many people who bought bitcoin got rich overnight, Japan also legislated to accept bitcoin, and then the major businesses supported bitcoin payment... You also have grass in your heart. Although I don't know what this coin is, it seems to make a lot of money. Do you want to buy it for two yuan

With a wave of his hand, Mr. Nakamoto, you guys need not worry. In order to make money... Oh no, in order to save the economic crisis, I have already considered this small matter carefully. In order to ensure the authenticity and quantity of each coin, each of us has a small notebook. On this magical notebook, you can see the birth of each coin, and everyone is a witness. At the same time, for the sake of safety, our notebook also has a very cool function, which is to have an invisible lock. You can only see it, but you can't change it. This kind of bitcoin has authenticity and authority

at the same time, you can rest assured that bitcoin will not be used in vain. I have found many "bricks" of mainstream economics, analyzed bitcoin and predicted that it will become the mainstream currency in the future. Now you can dig (Jian) currency without spending a cent, and you can wait for the currency to appreciate. Isn't it super good

this boasting, we listen to the bious, some people go to dig (Jian) money, some keep watching. At this time, Nakamoto took action. In 2014, he secretly united with American e-commerce giants such as eBay, airbnb and Uber, which began to accept bitcoin payment. Since then, the bitcoin market has really begun. Many people know that there is money coming in vain, and they also begin to join the ranks of coin digging. However, the number of people is still small, and there are not many coins g up

until 2017, when the blackmail virus incident occurred and the whole world suffered from large-scale network virus attacks, the poisoning unit had only two choices, either waiting for the computer to GG and the data disappeared, or paying about RMB 2069 bitcoin to unlock

this made bitcoin instantly become global famous. At the same time, all units had no choice but to buy coins. At this time, the brothers who had been digging for (Jian) coins for five or six years had a collective climax. There were so many coins. You want to buy them, right. In this way, the value of pure virtual bitcoin without real value soared to $2151 / piece

since then, as you have heard, XXX has accumulated more than n bitcoins, which have soared ten thousand times and become rich overnight

up to now, the creator of bitcoin, Nakamoto Tsung, has become a fan of identity, but bitcoin is still not accepted by most countries, including China. At present, bitcoin's high trading volume is also an illusion. Most of them are bad speculators. Through high-frequency trading, they create an illusion to attract investors' attention. This practice is equivalent to Taobao's swiping orders

for you who want to invest, you still need to clarify some things

1. Bitcoin is not restricted by law, and of course it is not protected. Once your trading platform is attacked by hackers, your currency will be lost, there will be no place to find it, and there will be no place to reason Many people go to the rooftop)

2. The fluctuation is very great. You only see a ten thousand fold increase, but not a half drop overnight

3, bitcoin has no issuer. In today's financial world, the currency of no issuer is worthless, and the bubble economy may collapse at any time. p>

the last word of advice: don't touch bitcoin as a rookie, or the old bird will speculate and run when they earn money, otherwise they will be sad

6. 1、 Business scope of blockchain company:
1. Technology development, technology transfer, technology consultation, technology service, business consultation, enterprise management, marketing planning, real estate brokerage, enterprise marketing planning, conference service, exhibition service in the field of network information and computer network technology
2. Engaged in technology development, technical consultation, technical service, technology transfer, computer system integration, computer data processing, computer network engineering maintenance, digital works database management, self owned equipment leasing, computer software research and development, cloud infrastructure services, enterprise management consulting in the field of computer network technology and computer software and hardware technology, Business information consulting, enterprise management, corporate image planning, exhibition services, photography, design and proction of all kinds of advertising, using its own media to publish all kinds of advertising, computer software and hardware and auxiliary equipment, communication equipment sales, engaged in the import and export business of goods and technology, trade brokers and agents
3. Development and application of blockchain technology; Big data R & D and technology promotion; Technology development of electronic currency and game currency; Health instry investment (specific projects will be declared separately); Commemorative coin design; Conference and exhibition services; Sales of cultural artworks (except ivory and its procts); The development of digital integral system; Cultural exchange activities planning; Domestic trade; Import and export business< Second, how to register a blockchain company
1. A company registered by name verification must first have a name. According to the enterprise name verification disclosed by the instrial and commercial registration bureau, the name registration rate related to blockchain is on the rise. Therefore, entrepreneurs who want to show their talents in the blockchain instry should quickly think of a good name
2. Apply for the license materials, sign and make the application materials of the registered company, provide the identity information of the legal person, shareholders and supervisors, determine the shareholding ratio of shareholders, the amount of registered capital, business scope, etc., verify the identity cards of the legal person and supervisor of shareholders, and submit the signed application materials to the Administration for Instry and commerce. At the same time, the ID card of the person in charge of finance should be provided
3. Apply for a business license and submit the signed registration materials to the instry and Commerce Department for review. After the review, you can get the business license
4. To open a company's basic bank account, a company needs to provide the original and plicate of its business license, official seal, financial seal, corporate seal and ID card of its legal representative to open a basic bank account. You can get a license to open an account in about two weeks
5. After the tax type is approved and the bank account opening license is obtained, prepare the tax verification data. Need business license, official seal, bank account opening license, business address of housing lease contract, housing lease invoice, digital certificate, and need to do information online now, print out after passing. Take this information with you to check the tax
6. When purchasing an invoice, the tax agent should bring his / her original ID card, tax agent card, official seal, invoice seal and Golden Tax plate to the tax hall for collection.

7. At present, there is no regulation on digital currency transaction in China
however, it is strongly recommended not to play with foreign platforms, which are easy to be hacked and frozen
for domestic platforms, please identify three major platforms: okex, fire coin and coin security
more questions about digital currency can be left!

8. Ethereum fog, as the eldest son of Ethereum, is also the first bifurcation. It is different from a series of bifurcations and followers caused by the breakdown of consensus in the bitcoin system. In fact, it is a real evolution for the expansion of Ethereum itself. Through the combination of the concept of fog computing and Ethereum, etherfog becomes a truly perfect and robust distributed decentralized world computer, and becomes one of the most suitable blockchain platforms for DAPP in the future

compared with the current Linux based distributions, there are far more popular ones on the market, and there will certainly be many Ethereum optimized public chains in the future, but why Ethereum
according to the current information of Xiaobian, etherfog integrates additional storage and computing capabilities. And storage and computing are the basic resources that can be foreseen to be used in high frequency, which brings more extensive applicability to ether fog. In the von Neumann structure computer, memory and arithmetic unit are essential, and now the application needs to consume a lot of storage and computing resources to provide services, which makes the addition of powerful storage and computing capacity is even a very necessary condition to become a qualified world computer.

9. From the end of 2006 to the beginning of 2007, Wu Ying, a 26-year-old rich woman from Dongyang, Zhejiang Province, appeared in such a sudden appearance and curtain call that she shocked people's eyes with hundreds of millions of yuan of wealth in the media and was arrested by the police for the crime of illegally absorbing public deposits. As a result, she has become one of the most famous and controversial figures in Chinese business circles. The collapse of this woman and her group of natural colors sweeping Dongyang stirred the nerves of Dongyang, Zhejiang and even the whole country
on February 26, after the Spring Festival, Dongyang City is still full of strong flavor of the new year. The streets under the bright sun are full of water and horses. Hanning Road, known as the "natural color Street", the original billboards of natural color group all over the street have disappeared. Most of the shops have either been closed or blocked by bricks. Only the words "natural color" that have not been removed from the wall can be seen
however, the case of Wu Ying has not been diluted by the strong flavor of the new year. Wu Ying's name is still the talk of people going to work after the Spring Festival< Chen Yidian, the publicity officer of the Information Office of Dongyang municipal government, seems to be quite satisfied with Wu Ying and the handling of Bense group. He told the democracy and legal times: "so far, from the employees of Bense group to the citizens, there has been no radical group incidents."
in addition to Wu Ying, four people involved in the case in Yiwu were also detained. The police have asked the bank to freeze the accounts of Bense group and take action against the people and places involved in the case in Dongyang, Yiwu, Zhuji and Hubei Jingmen
Wu Ying is a native of Tangxia village, Geshan Town, Dongyang City, and has no prominent family background. My father was a foreman and my mother was a farmer. His personal experience is not complicated. He once studied in Dongyang technical school for one and a half years and then dropped out to do business
in August 2006, Wu Ying suddenly appeared in front of the world and interpreted the myth of wealth. Before that, she was only the boss of Dongyang beauty salon in people's eyes. Overnight, Wu Ying's natural group swept Dongyang. She has the wealth and energy, so that the Dongyang public consternation: a sudden acquisition of more than 20 luxury housing; Buy Ferrari, BMW, Nissan and other luxury cars; Eat Dongyang Hanning road more than 100 shops; In two or three months, 12 companies were established in Dongyang; The annual salary for the Department Manager is as high as 500000 to 1 million yuan, and each person is equipped with a high-end car; 6.3 million yuan in three consecutive months; Trial operation in Dongyang City, open car wash shop and laundry
in less than a year, Wu Ying lost 350 million yuan of real gold and silver
in 2006, Wu Ying registered and established Zhejiang Bense holding group as its own Chairman. According to the data of Bense group, after years of operation in the capital market, the company has turned to instrial investment. It is a "comprehensive group company led by tourism, commerce, hotel chain and capital investment, integrating building materials, engineering construction, engineering design and decoration, home textiles, e-commerce, advertising media and entertainment services"
two or three months after Wu Ying's appearance, a Hangzhou media reported on "Dongyang women perform the myth of sudden wealth" in three pages. Subsequently, another Hangzhou media also launched a full-length report "how billions of wealth are made" in two full pages. Then, a Shanghai media followed up with three pages. And Dongyang, Jinhua local media, is a "indiscriminate bombardment.". The media's extensive rendering has paved a more dazzling Hongqiao for her to interpret the myth of "sudden wealth" on a larger scale in the future
in some reports, Wu Ying's wealth has expanded rapidly, and it is said that it has even reached 3.8 billion yuan. According to this data, she ranked 68th on the 2006 Hurun 100 rich list and 6th on the women's rich list< However, some people have questioned the source of Wu Ying's huge wealth. It's hard for people to understand: no one will spend the hard-earned money like this
"the Internet cafes, laundries, hotels and car washing shops invested by Wu Ying are all service instries. In Dongyang, a small city with limited population flow, it's inconceivable that several hundred million yuan will be spent on these instries." These investments give the impression that she just wants to spend her money as soon as possible
Bense group disappeared overnight
Wu Ying seems to be ready for the questioning of public opinion. On January 24, Wu Ying held a small-scale news conference in Hangzhou. She vowed that "all the funds are innocent."< However, on the afternoon of February 10, a large number of police controlled all the stores of Bense group in Dongyang in just a few minutes. That night, the Dongyang municipal government announced that Wu Ying had been detained by the local public security organ for illegal absorption of public deposits. The Dongyang municipal government has instructed the relevant departments to form the assets and capital verification group. The announcement requires the creditors related to Wu Ying and Bense group to register their claims and debts from 2 pm on the 11th
on the same day, four other people were arrested by Dongyang police, who were involved in Wu Ying's case of illegally absorbing public deposits
since the morning of February 11, more than 1000 employees of Bense group headquarters and Bense group's subsidiaries have been queuing up at their work places to receive their salaries
on the same day, the billboards of Bense group were all removed from the road from Yiwu to Dongyang and the streets of Dongyang City, and the word "Bense" was removed from the top of Bense's headquarters building. The gate of Bense group headquarters and Bense concept hotel was blocked by bricks and sand
Wu Ying and her group of true colors disappeared overnight, just like the sudden arrival of Wu Ying and her group of true colors in Dongyang a few months ago< In fact, after a lot of media reports on the source of Wu Ying's huge wealth, the government and relevant departments have begun to investigate, including the anti money laundering Department of Dongyang branch of the people's Bank of China. As early as last October, the anti money laundering Department concted a seven day secret investigation on Wu Ying, found that she was suspected of serious financial crimes, and reported the situation to the Public Security Department of Zhejiang Province
in November, Zhejiang provincial public security department basically found out the source of Wu Ying's funds, and filed a case on November 20, which is called "November 20" case
"except for a few leaders, no one in Dongyang knows that Wu Ying has been investigated. But then came the two sessions of Zhejiang Province and Dongyang City. On February 10, the day after the two sessions ended, the Zhejiang provincial public security department ordered Dongyang police to take action. " A person familiar with the matter from the Zhejiang Provincial Public Security Department said< According to the police investigation, Wu Ying's money is mostly from private lending. The popular saying in Dongyang private lending circle is that in 2005, Wu Ying was well-known in Yiwu private lending market. By chance, Wu Ying met a boss in Yiwu. The boss not only brought Wu Ying into the loan market, but also provided 5 million yuan as the start-up fund. Since then, the high interest rate has made Wu Ying's reputation soar in the loan market. It is widely spread that the boss who provided Wu Ying with the largest amount of loan funds lent her more than 600 million yuan
according to police investigation, Wu Ying borrowed money from the public at a high interest rate of more than 3 cents a month for many times, with the highest interest rate of more than 10 cents
a middle-aged man who invested in real estate in Jinhua lent Wu Ying 18 million yuan in November last year. At that time, Wu Ying borrowed from him at a monthly profit of 8 cents in the name of a local real estate project cooperation in Jinhua. After several times of urging, Wu Ying returned 5 million yuan, leaving 13 million yuan, which has not been found so far. According to the man, many bosses in Yiwu are interested in Wu Ying's high interest rate and borrow money from the private sector at 5% interest rate and then lend it to Wu Ying
just two weeks before Bense group was closed down, a boss in Dongyang just signed a mortgage contract with Bense and lent 4 million yuan to Wu Ying at high interest. It is said that the contract also states that the real estate with a value of 7 million yuan is used as the mortgage, and the real estate that cannot be repaid at the expiration belongs to the creditor
since the tax and audit departments jointly registered the claims and debts of Bense group on the afternoon of February 11, the registered amount is only tens of millions of yuan, but mainly the project funds, material funds and car washing cards. Until February 26, the creditors who provided Wu Ying with huge loans did not show up< Some people in the instry said that Wu Ying did not borrow directly from ordinary people, but only from usurers, including professional usurer brokers“ These people first let the guarantee company come forward and obtain low interest loans from the bank, and then lend the bank's money to Wu Ying at a high interest rate in the name of an intermediary. "
in fact, in Yiwu and other places, these professional usurers often appear as "loan intermediaries". They first take deposits from home at an interest rate of about 5 points, and then lend out at an interest rate of 8 points or even higher, in order to earn the middle interest margin< Relevant experts say that the reason why Wu Ying can absorb huge amounts of money in a short period of time is that, on the one hand, she is lured by high interest rates, and more importantly, she uses media hype to improve her popularity and reputation. Most of the money she borrows to Wu Ying is because she believes some media reports, and then she lends hundreds of thousands or millions of yuan to Wu Ying
according to local media in Zhejiang, it was Wu Ying's initiative and the staff behind the scenes to make a high-profile appearance through the media. People who have had direct contact with Wu Ying think that Wu Ying is the shell representative of the original Dynasty, and there is a real controller behind it
private lending challenges financial policy
the Wu Ying case exposed the lag and loopholes of financial management in Zhejiang and other coastal areas with active private capital< Relevant people said that in the process of checking the original accounts, it was found that Wu Ying had as many as 40 personal accounts. China's relevant laws and regulations have clearly stipulated that the same person is not allowed to set up so many accounts. If the supervision is strict, the illegal operation of Wu Ying and Bense group will not go so far in a short time. Just imagine, if Wu Ying didn't make so much publicity at the beginning, would she be very safe? Has instry, commerce and taxation been carefully examined
however, up to now, the definition of private lending and illegal absorption of public deposits in relevant laws and regulations is still relatively vague. According to the relevant provisions of the State Council, "illegal absorption of public deposits refers to the activities that, without the approval of the people's Bank of China, absorb funds from unspecified social objects, issue certificates, and promise to repay the principal and interest within a certain period of time." However, the relevant laws do not give clear provisions on how many citizens to borrow or how much to borrow from, especially under what conditions to violate the criminal law
Zhejiang has always had the tradition of "enriching the people". The tradition of private financing can be traced back to the 1970s. At that time, many small and medium-sized enterprises mostly used private financing, and few of them came from bank loans. This situation has continued to this day
according to the estimate of Hangzhou Central Branch of the people's Bank of China, the scale of private financing in Zhejiang Province is 130 billion to 150 billion yuan. At present, there are 30 Yiwu guarantee companies registered in the instry and Commerce Bureau, most of which were established last year and this year, mainly engaged in short-term lending, guarantee and other services. In such a short time, the emergence of so many guarantee companies in a county-level city shows the huge amount of private idle capital
"when you get a loan from a bank, you need to mortgage it, and it takes a long time to approve it. When you get the loan, you have missed the opportunity." Mr. Chen, who is engaged in foreign trade business in Dongyang, said, "how many can I find

10.

bus line: No.19 section, the whole journey is about 12.7km

1. Walk about 220m from Jiaxing railway station to Jiaxing railway station

2. Take No.19 section, pass 20 stations, and reach Jiaxing bus passenger transport center station

3. Walk about 1.3km to Majiabang farm