China Financial News
21.06 / 10:07
end
China Evergrande set to outline plan to restructure by end of July
China Evergrande is aiming to announce a preliminary restructuring plan by the end of July, a possible sign that the real-estate developer is on track to address its financial woes.
21.06 / 08:23
business
lending
Crypto lending platform Babel Finance reaches counterparty debt agreement
Hong Kong-based crypto lending firm, Babel Finance, has eased some of its immediate liquidity troubles by reaching debt repayments agreements with some of its counterparties.
21.06 / 06:39
NFT
regulation
WeChat
China’s WeChat bans crypto and NFT-related accounts
The top social media platform in China, WeChat, has updated its policies to ban accounts that provide access to crypto or NFT-related services.
21.06 / 00:38
Law
regulation
Scams
Chinese court invalidates 2019 car sale made using now worthless crypto token
Last week, a WeChat post published by the Shanghai Fengxian Court began circulating in crypto circles with regards to its recent ruling on a car sale in May 2019 made using digital currency. At the time, the buyer, identified only as Mr. Huang, signed a sales contract to purchase a 2019 Audi AL6 for CNY 409,800 ($59.477) in exchange for the consideration of 1,281 Unihash (UNIH) tokens with an undisclosed car dealership in Shanghai. Per the original contract, the seller was to deliver the car to Huang within three months' time.
20.06 / 22:23
expansion
Fed’s Bullard Says He Expects Economic Expansion to Continue This Year
Federal Reserve Bank of St. Louis President James Bullard said the economy appears on track for more expansion this year, and that the central bank must meet market expectations for rate rises as part of its effort to rein in inflation.
20.06 / 18:33
European Union
Refugees
Swimming
Why do central banks raise interest rates to curb inflation?
It's all going up: electricity, diesel, vegetables, the Internet, hotels, flights, and now, interest rates.
20.06 / 05:25
Fed
Jerome Powell
International
Powell: A US digital dollar could help maintain international primacy
Fed Chair Jerome Powell said on Friday, weighing in with generally positive remarks on a hot-button topic at the central bank that has left policymakers divided. «A U.S. CBDC (central bank digital currency) could… potentially help maintain the dollar's international standing,» Powell said in introductory remarks to a research conference held by the central bank on the international roles of the dollar. The Fed has just finished a four-month public consultation period soliciting opinions on the idea of a digital dollar. Fed Vice Chair Lael Brainard has emerged as a key supporter while Fed Governor Chris Waller has made the case against.
19.06 / 18:35
ETH
FIVE
Digital
Platform
Emerging Crypto Art Platform Outland Raises USD 5M Seed Round Led by OKG Ventures
Disclaimer: The text below is a press release that was not written by Cryptonews.com.
17.06 / 19:33
UPS
FIVE
Cooper
Remark
China's Xi says trade with Russia expected to hit new records in the coming months
BEIJING — Chinese President Xi Jinping on Friday emphasized his country's commitment to trading with Russia, despite Western sanctions against Moscow over its invasion of Ukraine.
17.06 / 16:09
business
regulation
Asia
Withdrawals
Crypto lender Babel Finance halts withdrawals due to liquidity pressures
Hong Kong-based asset manager Babel Finance is the latest cryptocurrency lending firm experiencing some serious issues amid the ongoing market downturn.
17.06 / 15:23
17.06 / 14:37
Tencent
NFT platforms in China grow 5X in four months despite government warnings
The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022, when the total number of NFT platforms was just over 100.
17.06 / 06:29
UPS
Citi
FIVE
Moodys
Financial
China's property troubles have pushed one debt indicator above levels seen in the financial crisis
BEIJING — A measure of risk levels for debt in Asia has surpassed its 2009 financial crisis high, thanks to a surge in downgrades of Chinese property developers since late last year, ratings agency Moody's said Wednesday.
17.06 / 01:45
BTC
Lowe's
Santiment
Bitcoin
Time
BTC: Want to time the bottom? These ‘bull traps,’ ‘fake pumps’ might help
Bitcoiners have been active in recent days following the latest crypto crash. The 3AC and Celsius liquidations have been attributed to the major price drops. In fact, the on-chain metrics of Bitcoin have been showing some interesting developments of late.
16.06 / 22:56
Blockchain
Adoption
Bitcoin
Resistance is futile! 3 reasons why Bitcoin mining will never go away
In the summer of 2021, the Chinese government banned Bitcoin (BTC) mining and cited the typical concerns of harmful environmental effects and money laundering. Now, the Chinese government is working toward establishing its own digital yuan currency. This raises the question as to whether the original reasoning was merely a Trojan horse.
16.06 / 18:17
European Union
More bother for Boris as ethics advisor quits over 'odious' orders
The ethics advisor to Britain's scandal-hit Prime Minister Boris Johnson has quit and accused the Conservative government of planning to flout conduct rules, weeks after a separate investigation criticised the UK leader for overseeing a culture of government rule-breaking.
16.06 / 10:45
UPS
Citi
Prices for New Homes in China Slide Further
A decline in Chinese new-home prices accelerated in May, even as local governments and banks ramp up support for a real-estate sector that has suffered from tightened regulations that have pummeled home sales and pushed some large developers to the brink of collapse.
15.06 / 21:39
Provident
Lowe's
Enterprise
Analyzing how GMT, GST tokens have fared amid current market turmoil
As most move-to-earn blockchain-based projects reel under the impact of the tight market conditions, STEPN appears to have been hit the most. Apart from struggling to keep gamers interested, since the beginning of the month, the gaming company has been trailed by a series of unfortunate events.
15.06 / 19:47
CFTC
coinbase
BitMEX
Bitcoin
FTX Overtook Coinbase & OKX in May, Speeding Up EU Crypto Regulation + More News
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
15.06 / 14:59
15.06 / 13:21
business
Tether
Banks
Tether aims to decrease commercial paper backing of USDT to zero
The major stablecoin company Tether is looking to eventually get rid of commercial paper backing for its U.S. dollar-based stablecoin Tether (USDT).
latest developments in China
What is the current situation in China?
In China, the spotlight is on socially significant developments that impact the interests of residents.
Where can I find reliable news about China?
We publish reliable reports about the situation in China, based on information from trusted sources.
What shapes the media agenda in China?
The news landscape of China is shaped by major cultural and social events, reflecting its specific characteristics.
