I feel like it's a big headache trying to teach people critical thinking skills sometimes, but then again 80% of redditors only read the titles of posts made to reddit. Here goes...

I made this write-up on "Crypto in China" 3 or 4 years ago before crypto became de-facto prohibited / illegal to own in China.

https://old.reddit.com/r/CryptoCurrency/comments/j4e2iz/the_state_of_cryptocurrency_in_china_if_anyone/

I have an undergraduate degree in Chinese Language and Literature. I've lived in China for 1 year and Taiwan for 8 years. I am proficient in both traditional and simplified chinese script and I can read and understand most news articles that stay away from conventional sciences and horoscopes / ancient literature.

And I have no problem understanding crypto-related news. Let's make some sobering highlights for you all to remember if you read anything china-related and crypto-related.

Hong Kong is China, but Hong Kong is not China.

Hong Kong is a former colony of the UK. it was handed back to China in 1997. Both the UK's prime minister and the Chinese government signed a contract (which has seen many violations, mostly created by China) that said "Hong Kong will be a self-ruling special administrative region of China for 50 years." with both sides thinking, basically, "If anyone wants out, they have 50 years to do so."

So what does "China-not-China" mean? Basically if you were born in Hong Kong, you have a Hong Kong passport, and a China passport. You have more freedoms every day than the average Chinese person, meaning you don't have to worry about social credit unless you plan to travel to mainland China. You also can surf the internet without a VPN as you please. You are much luckier than the other 1.32 billion people of China who don't have those privileges.

What is "China money moving into Hong Kong?"

Without getting too deep into it, you could say China's "Accredited investors" are a few government elite or people close to the government elite or simply rich people in general. Rich people in general tend to make ties with government officials in china for their own protection. Jack Ma became a CCP member after retiring from his own company. He likely did this by making the right friends in the CCP, but IDC about his life story. I'm just trying to point out how things work over there. Government officials and other "financial illuminati" of China have the ability to move money into hong kong and invest it as they see fit specifically because of the freedoms I listed above.

What is real? What is bull shit?

The best answer I can give you is read the articles before you give or take cool internet points away from them. Is it CCN trying to make a news article that isn't really news? Or is it reuters picking up and running with a news article published by Cointelegraph? Or is it actual news? You have to read these articles one by one and make your own conclusions.

TL;DR - actually read the articles that make these silly announcements and then figure out whether or not there is some truth to them.