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Do China people earn money from China people or do China people earn other people's money for foreign exchange?
It depends on who your counterparty is.

If the counterparties are all from China, then it is China who makes money from China.

If they are all foreigners, it is China people who make money from foreigners.

If everyone has it, it is to earn money from both China people and foreigners.

Of course, the premise is to make money.