China Financial News

HONG KONG—Inflationary pressures in the world’s second-largest economy eased more than expected in February after a post-reopening spike, a sign of the limited boost from the lifting of strict “zero Covid” curbs for domestic demand.

HONG KONG—The export engine that propelled China’s recovery through much of the pandemic sputtered to start the year, complicating Beijing’s efforts to juice an economy that is still reeling from three years of stringent “zero-Covid” restrictions.

NEW DELHI—As host to foreign ministers from the Group of 20 nations last week, Narendra Modi played the traditionally neutral role of an Indian prime minister, refusing to take sides between Russia and the U.S.

The global economy is showing vigor, with business surveys this week pointing to a widespread revival in growth despite rising borrowing costs and elevated energy and food prices, a sign that central banks may need longer than anticipated to bring inflation under control. 

“I haven’t seen Soros in more than 40 years. You might as well ask me about my first wife. I’ve seen her more than I have Soros,” Jim Rogers says when asked if he is still in touch with billionaire investor George Soros, who was once his business partner.

HONG KONG—The export engine that propelled China’s recovery through much of the pandemic sputtered to start the year, complicating Beijing’s efforts to juice an economy that is still reeling from three years of stringent “zero-Covid” restrictions.

cryptocurrency markets were trading in the red on Monday. Bitcoin (BTC) fell 0.39% to $22,352, while Ethereum (ETH) was below the $1,600 level. BTC volume stood at approximately $13.3 billion, rising 0.46% in the last 24 hours. «Over the weekend, most cryptocurrencies remained in red as market participants attempted to digest the latest news over Silvergate. In the past 24 hours, Bitcoin's value has fluctuated between US$22,500 and US$22,600, representing a 1% decline. However, traders and investors anticipate positive economic data from China, expected to be released this week, which might help them return to the market,» Edul Patel, Co-founder and CEO at Mudrex, said. Other top crypto tokens were also trading lower. Solana declined by 3.3%. Dogecoin, Litecoin, Cardano and XRP were also trading with cuts. The global cryptocurrency market cap was trading lower around $1.02 trillion, falling 0.87% in the last 24 hours. The total volume in DeFi is currently 3.37 billion, 11.85% of the total crypto market 24-hour volume. The volume of all stablecoins is now $25.24 billion, which is 88.7% of the total crypto market 24-hour volume.

NEW DELHI—As host to foreign ministers from the Group of 20 nations last week, Narendra Modi played the traditionally neutral role of an Indian prime minister, refusing to take sides between Russia and the U.S.

The global economy is showing vigor, with business surveys this week pointing to a widespread revival in growth despite rising borrowing costs and elevated energy and food prices, a sign that central banks may need longer than anticipated to bring inflation under control. 

BEIJING — China plans to overhaul its financial regulatory system by consolidating aspects of the central bank and securities regulator under a new entity, while doing away with the existing banking regulator.

According to a new filing with the U.S. Securities and Exchange Commission on Mar. 7, Canaan, a Chinese Bitcoin (BTC) miner and manufacturer of application-specific integrated circuit (ASIC) mining machines, reported that its revenue decreased by 82.1% Y/Y to $56.8 million in Q4 2022. During the quarter, Canaan sold 1.9 million terahash per second worth of computing power for Bitcoin mining, not accounting for lower ASIC prices, representing a 75.8% decline from Q4 2021. 

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NEW DELHI—As host to foreign ministers from the Group of 20 nations last week, Narendra Modi played the traditionally neutral role of an Indian prime minister, refusing to take sides between Russia and the U.S.

WeChat, China’s leading social networking and payment app, has added the country’s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to help broaden the appeal of the digital yuan.

The Chinese government has plans for a governmental overhaul, according to a new announcement. This includes introducing a new national financial regulator.

Major business players are joining the Hong Kong-Mainland China “cross-border” digital yuan pilot – including the e-commerce giant JD.com and the Bank of China.

Some countries worldwide suffered bigger financial losses to cryptocurrency scams despite a massive bear market in 2022.

HONG KONG—The export engine that propelled China’s recovery through much of the pandemic sputtered to start the year, complicating Beijing’s efforts to juice an economy that is still reeling from three years of stringent “zero-Covid” restrictions.

The global economy is showing vigor, with business surveys this week pointing to a widespread revival in growth despite rising borrowing costs and elevated energy and food prices, a sign that central banks may need longer than anticipated to bring inflation under control. 

As China tries to turn the page on one of its worst stretches of growth since the 1970s, its economy is being weighed down by the colossal debts of its local governments, which swelled during the pandemic and are starting to come to a head.  

NEW DELHI—As host to foreign ministers from the Group of 20 nations last week, Narendra Modi played the traditionally neutral role of an Indian prime minister, refusing to take sides between Russia and the U.S.