China Financial News
18.05 / 11:15
Citi
Time
fall
China’s New Home Prices Fall for the First Time in More Than Six Years
BEIJING—A monthly measure of new home prices in China fell for the first time in more than six years, offering further evidence of the pain that Beijing’s regulatory campaign is inflicting on a sector that has long served as an economic growth engine.
18.05 / 07:47
UPS
Bitcoin
The ‘underground’ story behind China’s ban on crypto-mining
Last year, China imposed an absolute ban on attributes related to the largest cryptocurrency, Bitcoin. In June 2021, China told banks to stop facilitating transactions and issued bans on mining. China’s share of global Bitcoin mining has fallen to effectively zero as per research presented by the Cambridge Bitcoin Electricity Consumption Index (CBECI).
17.05 / 20:21
17.05 / 13:51
Mining
Bitcoin
Hashrate
China’s Global Bitcoin Hashrate Share Leaps up from Zero to Over 21% - Report
The latest Cambridge Bitcoin Electricity Consumption Index (CBECI) hashrate figures will make interesting reading for anyone in the Bitcoin (BTC) mining space.
17.05 / 10:01
Adoption
Bitcoin
Returns
China returns as 2nd top Bitcoin mining hub despite the crypto ban
The Chinese government has not managed to take down cryptocurrency operations as part of its crypto ban last year as China has re-emerged as one of the world’s largest Bitcoin (BTC) mining hubs, according to a new report.
17.05 / 04:43
COST
Manufacturing
Strategy
Some factories might leave China, but in the grand scheme of things it doesn't matter much
BEIJING — China still holds the cards for global supply chains, whether or not Covid lockdowns frustrate businesses in the near term.
17.05 / 03:29
16.05 / 21:29
Time
China Competitiveness Bill Faces Hurdles as Time Runs Short
WASHINGTON—Disagreements over legislation designed to boost U.S. competitiveness against China are clouding its prospects in Congress, as lawmakers enter a period of make-or-break negotiations.
16.05 / 16:27
Government
Blockchain
Stablecoin
Adoption
CBDC activity heats up, but few projects move beyond pilot stage
Government-issued electronic currency seems to be an idea whose time has come.
16.05 / 15:19
UPS
Drag
China’s Economic Distress Deepens as Lockdowns Drag On
HONG KONG—China’s economy descended deeper into a Covid-induced doldrums last month, raising questions about whether Beijing’s planned stimulus measures can prevent a prolonged downturn.
16.05 / 14:03
CBDC
privacy
ECB
CBDCs Are Likely to Make You Less Anonymous
Central bank digital currencies (CBDCs) are coming, while several are already here. For central banks, they provide a means of lubricating and digitalizing the global economy, with a November report from JPMorgan and Oliver Wyman concluding that CBDCs could save companies USD 100bn per year.
16.05 / 05:19
Citi
Reuters
Manufacturing
economic data
China's economic data disappoint in April as Covid controls weigh
BEIJING — China reported a drop in retail sales and industrial production in April — far worse than analysts had expected.
15.05 / 22:23
week
Economy Week Ahead: U.S. Consumers, Housing Market in Focus
U.S. retail sales and existing-home sales data for April highlight this week’s economic calendar.
14.05 / 15:21
Eurovision Song Contest
G7
Ukraine war: Grain exports blocked by Russia threaten to bring hunger and famine, G7 warns
The Group of Seven leading economies warned Saturday that the war in Ukraine is stoking a global food and energy crisis that threatens poor countries, and urgent measures are needed to unblock stores of grain that Russia is preventing from leaving Ukraine.
13.05 / 00:27
regulation
Court
Bitcoin
rights
Shanghai court affirms that Bitcoin is virtual property, subject to property rights
The Shanghai High People’s Court has issued a document in which it states that Bitcoin is subject to property rights laws and regulations. That finding was made in relation to a lawsuit filed in a district court in October 2020 involving the recovery of a loan of 1 Bitcoin (BTC). The lower court recognized Bitcoin as having value, scarcity and disposability, and therefore being subject to property rights and meeting the definition of virtual property.
12.05 / 22:47
12.05 / 19:51
12.05 / 15:07
11.05 / 16:55
BlackRock
BlackRock downgrades outlook for Chinese assets citing ‘Beijing’s ties to Russia’
BlackRock has downgraded its outlook for Chinese stocks and bonds on the back of weakening growth expectations and geopolitical risks — two months after the world’s largest asset manager revealed it had placed them under review.
11.05 / 15:37
Ethereum
economics
Bitcoin
US Inflation for April Hits 8.3%, Slightly Above Expectations
US inflation hit 8.3% in April, down from a peak of 8.5% the month before, but still above expectations, new data from the US Bureau of Labor Statistics show.
11.05 / 11:25
Citi
FIVE
Compilation
Tesla
Shanghai's big automakers saw production plunge by 75% in April after lockdowns began
BEIJING — Auto production plunged in April as Covid lockdowns halted nearly all non-essential business in the metropolis of Shanghai, according to a report from the China Passenger Car Association.
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