Facebook founder Mark Zuckerberg faced an hours-long grilling by US lawmakers last week in which he had to defend his company’s Libra digital project. Photo: Reuters
Economy /  China Economy

Facebook’s Libra is ‘delusional’ project that will never succeed, says prominent Chinese political figure

  • Huang Qifan, the former mayor of Chongqing, has joined the chorus of voices questioning Facebook’s Libra coin, saying the digital token is set to fail
  • Issuing digital currencies that could compete with sovereign money is ‘delusional’, says the prominent Chinese political figure
Topic |   China economy
Cissy Zhou

Cissy Zhou

Updated: 9:45pm, 28 Oct, 2019

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Facebook founder Mark Zuckerberg faced an hours-long grilling by US lawmakers last week in which he had to defend his company’s Libra digital project. Photo: Reuters
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Cissy Zhou

Cissy Zhou

Cissy joined the SCMP in 2019. Prior to that, she has been a producer at BBC News and investigative reporter at CaiXin Media. She is interested in China's politics and economy.