China Financial News
25.04 / 10:01
boost
China’s Consumers Give Economy a Post-Covid Boost
HONG KONG—For years, economists have warned that China’s economy suffered from an imbalance that made its rapid growth unsustainable. The country was too reliant on investments and didn’t have enough consumer spending.
24.04 / 18:35
hacks
regulation
FBI
OFAC
lazarus
OFAC sanctions OTC traders who converted crypto for North Korea’s Lazarus group
The United States Treasury Department has identified over-the-counter (OTC) cryptocurrency traders who assisted North Korea’s Lazarus Group in converting stolen crypto into fiat currency. Crypto traders in China and Hong Kong have been sanctioned by the Treasury’s Office of Foreign Assets Control (OFAC). In addition, a China-based banker was sanctioned for coordinating some of the illicit cashflow.
24.04 / 17:11
24.04 / 16:27
business
KYC
Bybit to introduce mandatory KYC requirements starting May 8
Starting May 8, Know Your Customer (KYC) identity verification will be mandatory for all products and services offered by cryptocurrency exchange Bybit.
24.04 / 14:11
CBDC
China City to Pay Salaries ‘100%’ in Digital Yuan – Is CBDC Adoption Accelerating?
A Chinese city wants to pull of a world’s first – by becoming the first city to pay its employees entirely in a central bank digital currency (CBDC).
24.04 / 13:39
boost
China’s Consumers Give Economy a Post-Covid Boost
HONG KONG—For years, economists have warned that China’s economy suffered from an imbalance that made its rapid growth unsustainable. The country was too reliant on investments and didn’t have enough consumer spending.
24.04 / 13:39
Strategy
U.S., Allies Weigh How to Reduce Economic Ties With China
WASHINGTON—The U.S. and its allies are grappling with how to pare their economic relationships with China, attempting to limit ties in certain sectors they view as strategic while preserving broader trade and investment flows with the world’s second-largest economy.
24.04 / 13:39
Janet Yellen Says Security Comes Before Economy in U.S.-China Relationship
WASHINGTON—Treasury Secretary Janet Yellen said protecting national security would be the U.S. priority in its relationship with China even if it slows economic growth, taking a hawkish stance as she pushed for more collaboration with Beijing.
24.04 / 13:39
UPS
China’s Economy Rebounds After Three Years of Zero-Covid Isolation
SINGAPORE—China’s economy rebounded in the first three months of the year after Beijing dismantled its heavy-handed Covid-19 controls, teeing up a revival in growth that is expected to buoy the global economy as the U.S. and European economies slow.
24.04 / 13:39
Threat
Forget Macron, Europe and the U.S. See Eye-to-Eye on China’s Threat
In its geopolitical competition with the West, China has long sought to divide the U.S. from Europe. Last week it appeared to score a coup when French President Emmanuel Macron declared Europe wouldn’t follow the U.S.’s approach toward Beijing.
24.04 / 13:31
Blockchain
CBDC
Adoption
regulation
Yuan
China to expand CBDC use case for Belt and Road Initiative
China is expanding the use cases for its central bank digital currency (CBDC) called digital yuan or e-CNY for its Belt and Road initiative and cross-border trades. The digital yuan a.k.a. digital RMB was one of the first CBDCs to be developed and widely tested. While there hasn’t been an official launch, the government has expanded its testing parameter to include multiple cities and millions of people.
24.04 / 10:33
Blockchain
Mining
Bitcoin
Russia becomes second-largest Bitcoin mining hub after US, claims local miner
Russia has now reportedly become the second-largest country in the world in terms of Bitcoin (BTC) and cryptocurrency mining, with the United States maintaining its position as the leader. Nevertheless, the lack of clear regulations regarding cryptocurrencies in the United States may lead to a potential market distribution shift.
24.04 / 01:51
business
Twitter
Venture Capital
exchanges
Bankruptcy
OPNX CEO scolds claimed backers after some deny investing in the firm
A number of supposed Open Exchange (OPNX) investors have been blasted by the CEO of the crypto claims trading platform after some publicly distanced themselves from the project after being named as backers.
23.04 / 16:55
Janet Yellen Says Security Comes Before Economy in U.S.-China Relationship
WASHINGTON—Treasury Secretary Janet Yellen said protecting national security would be the U.S. priority in its relationship with China even if it slows economic growth, taking a hawkish stance as she pushed for more collaboration with Beijing.
23.04 / 09:39
Threat
Forget Macron, Europe and the U.S. See Eye-to-Eye on China’s Threat
In its geopolitical competition with the West, China has long sought to divide the U.S. from Europe. Last week it appeared to score a coup when French President Emmanuel Macron declared Europe wouldn’t follow the U.S.’s approach toward Beijing.
23.04 / 09:39
Strategy
U.S., Allies Weigh How to Reduce Economic Ties With China
WASHINGTON—The U.S. and its allies are grappling with how to pare their economic relationships with China, attempting to limit ties in certain sectors they view as strategic while preserving broader trade and investment flows with the world’s second-largest economy.
23.04 / 09:39
boost
China’s Consumers Give Economy a Post-Covid Boost
HONG KONG—For years, economists have warned that China’s economy suffered from an imbalance that made its rapid growth unsustainable. The country was too reliant on investments and didn’t have enough consumer spending.
23.04 / 09:39
UPS
China’s Economy Rebounds After Three Years of Zero-Covid Isolation
SINGAPORE—China’s economy rebounded in the first three months of the year after Beijing dismantled its heavy-handed Covid-19 controls, teeing up a revival in growth that is expected to buoy the global economy as the U.S. and European economies slow.
23.04 / 09:11
Government
CBDC
Adoption
Payments
regulation
Chinese city public servants to receive digital RMB salaries from May
A notice issued by authorities governing the Chinese city of Changshu stated that all civil servants in its jurisdiction will be paid their full salaries in digital RMB or digital yuan from May 2023.
23.04 / 03:47
business
Adoption
Payments
Asia
financing
China and Singapore team up to scale green and transition financing
Major Asian economies, China and Singapore, have set up a task force to deepen bilateral cooperation in green and transition finance. The move is aimed at facilitating greater public-private sector collaboration for a low-carbon future in the region.
22.04 / 14:33
Janet Yellen Says Security Comes Before Economy in U.S.-China Relationship
WASHINGTON—Treasury Secretary Janet Yellen said protecting national security would be the U.S. priority in its relationship with China even if it slows economic growth, taking a hawkish stance as she pushed for more collaboration with Beijing.
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