China Financial News

07.03 / 12:33

Target China’s Robust Growth Target Points to More Stimulus Ahead

HONG KONG—By calling for growth of 5.5% this year, China’s leaders have set a relatively high bar for an economy facing a litany of challenges at home and abroad—and paved the way, economists say, for more aggressive stimulus measures in the coming months.

07.03 / 07:59

Align Fitch Moodys MSCI Stephen Roach says Russian default would hit emerging markets — and China

Economist Stephen Roach warned effects from any default on Russia's sovereign debt as a result of the Ukraine crisis would spill over to emerging markets, including China.

05.03 / 06:19

UPS China will raise defense spending by 7.1% in 2022, faster than last year

BEIJING — China's defense spending this year is set to grow at its fastest pace since 2019, according to the Ministry of Finance plan released Saturday.

05.03 / 04:27

Target China Sets GDP Growth Target at Around 5.5%

China set an economic growth target of around 5.5% for the year, the lowest level in the more than quarter-century of economic planning, reflecting heightened domestic and global uncertainties in a key political year for leader Xi Jinping.

05.03 / 04:07

UPS Target Fallout China on deck to reveal its 2022 GDP target

BEIJING — China is slated on Saturday to release its gross domestic product growth target for 2022, as an annual parliamentary meeting gets underway.

04.03 / 18:29

cryptocurrency Central Bank Russian Ruling Party Says Crypto Regulation Will Safeguard ‘Millions of Citizens’

United Russia, the nation’s ruling party, says that some 12% of the population uses or interacts with crypto – and senior political figures stated that it will protect crypto holders with its forthcoming regulations.

04.03 / 17:38

Blockchain NFT Google Internet Google Trends data reveals that no one cared about metaverse or NFTs in 2022

While the worldwide search interest for the keywords “metaverse” and “NFT” boomed in the last quarter of 2021, Google Trends data shows that the hype may have passed since February 2022.

03.03 / 19:43

Blockchain Gaming economics Bitcoin Mining Difficulty IRS Comes for Crypto John Does, Bitcoin Mining Difficulty Drops, Complex Apps on Algorand + 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.

03.03 / 16:41

In China, Fewer Are Willing to Splurge as Economic Worries Mount

HONG KONG—More than two years into the pandemic, China has a problem that would seem very unfamiliar in the U.S. It can’t convince its people to spend more money.

03.03 / 16:35

Central Bank Beijing Bitcoin Bitcoin Transactions China's share in Bitcoin transactions declined 80% post crackdown: PBoC

People’s Bank of China, the central bank of the country, claimed in a recent note that China's share in the global Bitcoin (BTC) transactions has rapidly dropped from over 90% to 10%.

03.03 / 10:23

NFT regulation Bank of China Tencent files for patent related to virtual concerts in Metaverse

Chinese tech conglomerate Tencent has filed for a virtual concerts patent with the Chinese National Intellectual Property Administration (CNIPA) according to business data-tracker Qichacha. The application comes as Chinese companies race to secure Metaverse trademarks.

03.03 / 06:41

crypto currency Crypto exchanges WOO Despite billion-dollar investment, why GameFi is failing to woo Asians?

Crypto industry is betting big on the GameFi industry with billions of dollars invested, but in the Asian market, the segment is likely to face a stiff and severe challenge, thanks to strict and rigid regulations in multiple countries. The existing laws and regulations are quite hostile for GameFi. Countries like South Korea and China have had laws about converting in-game tokens into fiat currency for nearly 15 years. In South Korea, gaming is a serious industry and has its own regulatory code — strictly prohibiting speculative acts, gambling and free gifts. Its laws prohibit converting game tokens into cash.

03.03 / 03:25

CBDC Adoption Central Bank banking Winter Olympics China’s Digital Yuan Set for Local Adoption, Airport, Banking Drives

China’s digital yuan is edging ever closer to a nationwide rollout, with banks, airports, and provinces looking to boost their adoption efforts following last month’s Winter Olympics and ahead of the Paralympic Winter Olympics.

03.03 / 02:41

ETF Bitcoin $45,000 Bitcoin looks cheap when compared to gold’s marketcap

Bitcoin (BTC) pulled off an impressive double-digit rally this year, but the digital asset has been struggling to break the $45,000 resistance lately. This level does not hold any historical importance because it has been easily breached multiple times. The same can be said for Bitcoin's $850 billion capitalization, which isn't anywhere close to silver's $1.4 trillion, or the Amazon and Google's $1.7 trillion market value.

02.03 / 18:03

Ukraine war Russia eyes sanctions workarounds in energy, gold, crypto

Former Treasury Department officials and sanctions experts expect Russia to try to mitigate the impact of the financial penalties by relying on energy sales and leaning on the country's reserves in gold and Chinese currency. Putin also is expected to move funds through smaller banks and accounts of elite families not covered by the sanctions, deal in cryptocurrency and rely on Russia's relationship with China. Right now, «the biggest two avenues that Russia has are China and energy,» said John Smith, former director of Treasury's financial intelligence and enforcement arm.

02.03 / 16:47

U.S. Moving to Confront China on Trade, Industrial Policy

WASHINGTON—The Biden administration is preparing to confront China on its industrial subsidies and seek ways to protect America’s edge in new technologies, hardening U.S. economic policy toward the nation’s chief global rival.

02.03 / 10:17

Target Cooper Citizens Here's how Chinese media is covering Ukraine

BEIJING — In China, tightly controlled coverage of Russia's invasion of Ukraine has focused heavily on negotiations.

02.03 / 02:09

EBAY Tether education Bitcoin Here’s a clever options strategy for cautiously optimistic Bitcoin traders

Bitcoin (BTC) entered an upward channel in early January and despite the sideways trading near $40,000, order book analysts cited "significant buying pressure" and noted that the overall negative sentiment might be heading towards exhaustion.

01.03 / 20:11

U.S. Says It Is Realigning Its China Trade Policy

WASHINGTON—The Biden administration said it is realigning its trade policy toward China, looking at all existing tools and potentially new ones to combat Beijing’s state-led nonmarket practices.

28.02 / 21:57

Digital Aware Platform Santiment With sanctions at the fore, will Russia adopt the digital yuan? Well, it might…

You may know the ‘Society for Worldwide Interbank Financial Telecommunication’ as SWIFT – a cross-border payment system that makes it possible for users worldwide to shop, transfer money, pay fees, and more. Now, with major financial institutions in Russia cut off from the system and the currency falling in value, some have speculated that Russia could turn to China for an alternative.

28.02 / 21:13

business Blockchain Technology Adoption Neo users explain why they've held on to the project despite China's heavy crypto crackdown

It's been a wild ride for Neo (dubbed by some as "Ethereum of China") investors in the past few years, especially as China began to incrementally introduce harsher crypto regulations. But despite the odds, the community appears to be resilient, with a dedicated society of developers worldwide and a bourgeoning decentralized finance, or DeFi, hub that came into prominence via the launch of Neo N3 mainnet last year.

what's happening in China

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In China, the spotlight is on local government initiatives that spark public discussion.

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