Chinese tech firm claims digital plans for Mong La SEZ

Sub-title: 

A Shanghai blockchain company claimed it intended to set up a special economic zone in a rebel-held border area of eastern Shan State where it would issue digital currencies and IDs to the local population.

Description: 

"Executives from Shellpay Internet Technology Co, in a Channel News Asia (CNA) broadcasting programme aired last December, said that the firm was granted a piece of land by the general office of “Peaceful Liberation Alliance of 7 States” in April 2018 as a Special Economic Zone (SEZ) to issue digital coins and e-citizenship. Jane Zhang Hong, CEO of Shellpay and who identified herself as the director of the SEZ’s digital economy bureau, said the objective is to “improve" the "dirt-poor" locals and develop the region. She told CNA that she wanted to create “the world's first digital economy experiment with 40 million people [in Myanmar] who are dirt-poor” through a “Yongbang SEZ”. The disputed area, covering 220 square kilometres, is located within the Mong La Special Administrative Region 4 in eastern Shan. Run by the rebel group known as the National Democratic Alliance Army (NDAA), the enclave bordering China’s Yunnan province is known for being a infamous hub for prostitution, gambling and crime. The rebels signed a Union-level ceasefire agreement in December 2011. Despite legally under Nay Pyi Taw’s sovereignty, Mong La functions more as an integral part of China than of Myanmar, with Chinese business people, linked to business activities in Yunnan, running hotels, restaurants, shops, brothels and casinos, catering for the thousand of Chinese customers visiting Mong La every day. Chinese language and Chinese yuan are used..."

Creator/author: 

THOMPSON CHAUKYAW SOE HTET

Source/publisher: 

"Myanmar Times"

Date of Publication: 

2019-02-24

Date of entry: 

2019-08-10

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar, China

Language: 

English

Resource Type: 

text

Text quality: 

    • Good