The Chinese official Media has termed the Indian Government's step of demonetizing the Higher Currency note as a 'Bold and Startling' move. Chinese official media has said it is "far from enough" and India may "look at ideas" from China's crackdown against corruption which has shown "efficiency".

This step by Modi has made the Chinese Media refer to him, that he is a truly up for a fierce fight against corruption.

"Modi means well and his decision was made based on the reality in India, since most illegal business in the underground economy is cash-only, and 500 and 1,000 rupee notes constitute over 80 per cent of all cash circulation in India. Nevertheless, we can hardly count on the new rule to fully root out corruption," the article titled 'Beijing offers clues for Modi's new anti-corruption moves'. 

Paytm performed Rs. 24000 crore of transactions since the Demonetization of high currency notes