China Financial News

Once hailed as the "Ethereum of China," Neo's token price has fallen on hard times ever since the world's most populous nation introduced a series of acute bans on cryptocurrency operations last year. In an exclusive interview with Cointelegraph, Neo's developers — who wished to remain anonymous — explained that partners run most projects sponsored by Neo Global Development, or NGD, from a wide range of countries outside China that serve users all over the world.

As Bitcoin (BTC) and altcoins took a break from reaching new all-time highs, the market sentiment seems gloomy since the start of 2022. However, while the market seems to be sleeping, its trajectory shows that there’s more to look forward to in the coming months.

WASHINGTON—The U.S. said Monday it has agreed to lift import tariffs on Japanese steel imposed by the Trump administration, removing a longstanding irritant in the bilateral relations between the two allies.

BEIJING — Chinese consumer spending on movies plunged during the Lunar New Year holiday last week as theaters raised prices to record highs.

The Kazakh government is considering a three-pronged proposal designed to make crypto miners pay much more for operating in the country, which could make Kazakhstan less attractive to the industry.

China is continuing in its efforts to wow the world with its digital yuan at the Winter Olympic Games, which got underway on Friday last week. But it appears that not all attendees – both Chinese and overseas visitors – have been blown away by the token’s usability.

Every global event or major political crisis these days can trigger a digital asset-related conversation. As China welcomes the world’s top athletes to the Beijing 2022 Winter Olympics, showing off ultra-high-tech facilities and sports infrastructure, some United States politicians have raised concerns over the Games’ potential to act as a booster to the digital yuan’s adoption. In neighboring Myanmar, the military government that had overthrown the nation’s elected leadership a year ago is now looking into launching its own digital currency, not to project economic influence but to improve the domestic payments system and the struggling economy more broadly.

Senator Pat Toomey, a senior member of the U.S. Senate Banking Committee, requested the U.S. administration to closely examine the Chinese digital yuan's rollout during Beijing Winter Olympics.

WASHINGTON—The Biden administration is preparing to unveil its first broad economic strategy for the Asia-Pacific region, a move awaited by U.S. allies and American business groups that are uneasy about China’s expanding influence in the region.

Chinese tennis player Peng Shuai has told a French newspaper that international concern over her well-being is based on “an enormous misunderstanding” and she denied having accused a high-ranking Chinese official of sexual assault.

U.S. stock index futures were little changed during overnight trading Sunday after the S&P posted its best week of 2022, boosted by quarterly earnings reports and a better-than-expected January employment report.

This week the total crypto market capitalization rallied 10% to $1.68 trillion, which is a 25% recovery from the Jan. 24 bottom. It's too early to suggest that the market has found a bottom but two key indicators — The Tether/CNY premium and CME futures basis — have recently flipped bullish, signaling that positive investor sentiment is backing the current price recovery.

The IPO-bound national insurer Life Insurance Corporation (LIC) is not only the world's largest when it comes to home-market share with over 64.1 per cent of the total gross written premium as of 2020 but also the one that offers the highest return on equity at 82 per cent, apart from being the third largest in terms of life insurance premium, says a Crisil report. While for LIC the market share has been steadily declining–down from 100 per cent in the pre-2000 era to 71.8 per cent in 2016 and further down to 64.1 per cent in 2020, for SBI Life, which is the second largest in the country, the same was only 5 per cent in 2016 and 8 per cent in 2020, Crisil said in a report prepared in November 2021 which is not yet made publicly available.

HONG KONG—A prolonged slowdown in China’s economic growth could hurt some multinational companies and commodity producers for years to come, casting a shadow over the global recovery from the pandemic—but likely not derailing it entirely.

A fundamental trait of crypto is as an asset class that transcends jurisdictions. Yet, one of the key hubs driving adoption and innovation is Asia. Since the heady days of Korea’s Kimchi premium and Bitcoin (BTC) arbitrage opportunities, the region is playing a role in defining crypto’s development pathways and anchoring its future.

The entire cryptocurrency market is off to a rocky start in 2022. Bitcoin notched a three-month low as global markets continued their New Year sell-off due to different factors. Ethereum fared even worse to start 2022, down nearly 18% following hawkish Federal Reserve meeting minutes.

France’s duelling far-right presidential candidates are holding back-to-back campaign rallies on Saturday, trying to steal each other’s thunder and keep their anti-immigration, anti-Islam agenda front and centre in the race for the April presidential election.

High-stakes diplomacy continues in a bid to avert a war in Eastern Europe as the Russian military build-up on its border with Ukraine continues to pose a threat.

Montenegro's governing coalition collapsed on Friday night amid internal disputes after parliament backed a no-confidence motion tabled by a junior coalition partner.

IndusInd Bank Limited has moved National Company Law Tribunal (NCLT), Mumbai Bench claiming default of Rs 83 crore by Zee Entertainment.

The Federal Reserve is poised this week to release a paper soliciting public comment about central bank digital currencies (CBDCs), according to a report in The Wall Street Journal.The paper was scheduled to be released earlier in the summer but was delayed. It represents the central bank's first concrete step forward in exploring the use of digital currencies in the U.S. economy and could pave the way for a Fed-backed digital dollar.