China Financial News
30.09 / 11:29
service sector
Warning
China’s Service Sector Slows in Latest Economic Warning Sign
HONG KONG—Chinese economic activity remained feeble in September, with the services sector slipping into contraction, offering fresh evidence of the damage that Beijing’s Covid-prevention measures and a deepening real estate slide are inflicting on the country’s economy.
29.09 / 16:51
Lowe's
Strategy
As Yuan Hits New Lows, China Responds With Restraint
SINGAPORE—Confronted by the relentless rise of the U.S. dollar, China’s central bank is seeking to slow, rather than halt its currency’s decline, highlighting the difficulties of rowing against the powerful currents in the global economy that are propelling the dollar higher.
29.09 / 11:55
event
Ethereum
interview
Proof-of-stake
Starkware
Ethereum Merge was 'executed flawlessly,' says Starkware co-founder
As the dust settled over the Ethereum network’s highly-anticipated transition to proof-of-stake (PoS), Eli Ben-Sasson, the co-founder of Starkware, gave his thoughts on its execution and potential for the future.
29.09 / 11:03
Citi
Digital
Yuan
settlement
Cross-border
China Trials Cross-Border Settlement Involving Cenbank Digital Currencies
China has been testing its digital currency in major cities.
29.09 / 04:21
Citi
Валюта
CNY
Speculation
NOT
'Do not bet': China's central bank warns against yuan speculation
BEIJING — The People's Bank of China has warned against betting on the yuan, after its rapid decline against the U.S. dollar this week.
28.09 / 22:29
CBDC
Payments
regulation
Central Bank
Israel, Norway and Sweden's central banks partner with BIS to explore CBDC
The Bank for International Settlements, or BIS, has reported it will be partnering with the central banks of Israel, Norway and Sweden to explore international retail and remittance payments use cases for central bank digital currencies, or CBDCs.
28.09 / 18:35
Digital
Platform
HSBC
BIS concludes CBDC pilot program, here’s everything you need to know
The Bank for International Settlements (BIS) has announced the successful completion of the “first CBDC pilot,” as part of the second phase of Project Inthanon-LionRock.
28.09 / 16:41
business
solana
Developers
Funding
Solana tech developer Coral raises $20M, plans to launch 'xNFT' protocol
Solana ecosystem developer Coral has closed a $20 million investment round backed by some of crypto’s biggest venture funds, setting the stage for launching its new interactive wallet later this month.
28.09 / 09:45
Blockchain
Asia
BIS marks CBDC pilot as 'successful' with $22M transacted
A multi-jurisdictional Central Bank Digital Currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of real-value cross-border transactions.
28.09 / 08:31
Software
ByteDance
NetEase
A game about sheep is going viral in China even as gaming regulation remains tight
BEIJING — A new game that's gone viral in China hit people's screens with surprising speed at a time when gaming giants such as NetEase have waited months for approval to launch games.
28.09 / 07:59
Government
Blockchain
Bank of America
Bitcoin
Bitcoin think tank: Reject CBDCs and look to BTC and stablecoins instead
U.S. think tank Bitcoin Policy Institute is calling for the United States to reject Central Bank Digital Currencies (CBDCs) and look to Bitcoin (BTC) and stablecoins as alternatives.
28.09 / 00:37
UPS
Reuters
Digital
How Russia’s CBDC might allow it to evade sanctions, trade with China
On 26 September, the United Kingdom announced a new package of sanctions against Russia. This round contains 92 sanctions, in response to referendums held by Russia in Ukraine following its controversial invasion. A number of these sanctions are meant to hurt executives from state-backed financial institutions.
27.09 / 19:31
27.09 / 16:25
Ethereum
avalanche
Crypto prices today
Bitcoin
Crypto Price Today: Bitcoin regains $20K; Solana & Polkadot gain up to 8%
Bitcoin topped the $20,000 mark, whereas Ethereum found some mojo back, the first time after the Merge. However, analysts believe that the recovery might be short-lived amid the macroeconomic turbulence and rising fears of recession. Thus, traders need to be cautious for the time being, they add. Barring the XRP and US dollar-pegged Tether, all top crypto tokens were trading sharply higher on Tuesday. Solana zoomed up to 8 per cent, whereas Bitcoin and Polkadot were up by 6 per cent each. The global cryptocurrency market cap was trading higher at $962.94 billion, gaining more than 4 per cent in the last 24 hours. However, the total trading volume zoomed almost 52 per cent, close to $81.16 billion.
27.09 / 14:17
27.09 / 12:28
Reuters
Digital
Citizens
Platform
Ruble
Why Russia’s Plans to Use Digital Ruble in Trade with China is Positive for all Crypto
In the aftermath of its aggression against Ukraine, Russia is intensifying plans to use its central bank digital currency (CBDC), the digital ruble, in the country’s trade with China. The development could encourage other nations across the world to use CBDCs in mutual settlements with foreign partners, accelerating global crypto adoption.
27.09 / 11:52
World Bank Cuts China Growth Forecast as Covid-19, Real-Estate Crunch Take Toll
SINGAPORE—The World Bank said it expects developing economies in East Asia to grow faster than China this year for the first time since 1990, as the world’s second-largest economy struggles with a real-estate crunch and the government’s zero-tolerance approach to Covid-19.
27.09 / 11:45
Adoption
regulation
International
Russia aims to use CBDC for international settlements with China: Report
Russia is in the pilot phase of its central bank digital currency development (CBDC), and new reports indicate that the country could use its national digital currency to settle international trade.
27.09 / 10:27
Electricity
Bitcoin
Nuclear and gas fastest growing energy sources for Bitcoin mining: Data
The electricity mix of Bitcoin (BTC) has drastically changed over the past few years, with nuclear energy and natural gas becoming the fastest growing energy sources powering Bitcoin mining, according to new data.
27.09 / 09:07
Blockchain
Gaming
Yat Siu: Asia GameFi opportunity huge as gamers don’t hate NFTs
Animoca Brands co-founder Yat Siu thinks that GameFi has the biggest opportunity for growth in Asia, as gamers there don’t hold the same vitriol towards nonfungible tokens (NFTs) as they do in the West.
26.09 / 22:05
UPS
Digital
Southern
Chinese police arrest crypto criminals for laundering over $5B
As the nation increases measures to curb illegal financial flows, Chinese police have dismantled a huge criminal organization reportedly responsible for a 40 billion yuan (US$5.6 billion) crypto money laundering case.
what's happening in China
What is the current situation in China?
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