China Financial News

15.11 / 15:37

Mobile What’s Driving Xi Jinping’s Economic Revamp? China’s Social Mobility Has Stalled

China’s extraordinary economic rise planted a belief in the country that just about anyone can succeed if they work hard—a key component of Xi Jinping’s “China Dream.”

15.11 / 11:51

China Posts Robust Growth in Factory Output and Consumer Spending

BEIJING—Chinese factory activity and consumer spending were surprisingly robust in October, official monthly figures showed Monday, though fresh signs of weakness in the property sector underscored concerns for the outlook of the world’s second-largest economy.

14.11 / 21:43

Blockchain Technology Ethereum Bitcoin Future Without quantum security, our blockchain future is uncertain

News that two teams of Chinese scientists have achieved quantum advantage — a technical term for when a computer can perform functions beyond that of a classical computer — may be the signal that we have truly entered a new era.

14.11 / 08:49

cryptocurrency A $27 billion token loved by exiled billionaire and Steve Bannon

By Zijia Song Like so much in cryptocurrencies, there’s a lot to unpack with Himalaya Coin, which has quietly zoomed to an apparent $27 billion valuation in less than two weeks. For starters, there’s the music video, “Hcoin to the Moon,” featuring exiled Chinese billionaire Wengui Guo smoking a cigar, hanging out on a yacht and driving a red sports car.

14.11 / 08:45

digital currencies Why China’s cryptocurrency ban is an opportunity for India?

Speculations and possibilities aside, China’s crypto crackdown in 2021 has been rather uncompromising. Despite being considered a running joke by experts, which is to fade out in time, the tough approach hasn’t been all that pleasant for the traders.

13.11 / 10:31

Government Ban Bitcoin Chinese provincial official expelled for violating crypto mining ban

The Central Committee of the Chinese Communist Party (CCP) expels a top provincial official after investigations suggest unlawful emgagement with crypto mining activities among other abuse of power.

12.11 / 16:17

Cooper Progressive ICO Cryptocurrencies Japan authorities bust $237 million real estate-based crypto scam, Chinese investors involved

Chinese investors hide land deals in Japan by using cryptocurrency

12.11 / 14:53

FIVE HANS Power China slams U.S. democracy as a 'game of the rich,' at an event promoting Xi's growing power

BEIJING — A top Chinese official issued a rare criticism of the U.S. and Western democracy during a high-profile political press conference Friday.

12.11 / 09:41

Blockchain Provident Digital Bitcoin Central bank digital currencies are a long way from becoming reality — unless you’re in China

Don't expect central banks to issue their own digital currencies anytime soon — that was the message from the Bank of England this week.

12.11 / 07:13

Time It's high time the government clears its stance on cryptocurrency

Cryptocurrencies are now too big to shut down. Unlike the Chinese government, which completely banned these cryptocurrencies, the Indian government hasn’t been able to impose a ban on these currencies so far, despite announcing that it will.

11.11 / 15:43

Adoption Bitcoin Holdings Hong Kong firm to offer insurance for Asian cryptocurrency holdings

A major Asian insurer has ventured into Bitcoin (BTC), in an attempt to provide a model for other businesses in the field.

11.11 / 14:23

China Borrows Again at Negative Rates in Euros

China sold about $4.6 billion of bonds denominated in euros, taking advantage of superlow yields in the eurozone to raise shorter-term funds at negative rates for the second year running.

11.11 / 13:15

business Adoption shopping Chinese retail giant JD accepts digital yuan payments for Singles Day

E-commerce giant JD.com took payments in China’s central bank digital currency (CBDC) at a massive local shopping event.

11.11 / 12:39

Evergrande swerves default again as Chinese developers rally

Stocks and bonds of Chinese developers jumped on signs that Beijing could moderate its tough stance on the beaten-down property sector, while sector heavyweight China Evergrande again averted default by making another set of last-minute bond payments.

11.11 / 10:49

Tether Bitcoin reports Did conflicting reports about Evergrande defaulting cause Bitcoin to tank?

Conflicting news about whether Chinese property giant Evergrande had defaulted on its overdue loan payments emerged just before Bitcoin’s recent price crash.

10.11 / 23:51

business Mining Energy Crypto miners Influx of crypto miners to Kazakhstan reportedly strains energy supply

Now responsible for the second biggest contribution to the Bitcoin hashrate, Kazakhstan’s energy grid may be unprepared to handle the addition of many cryptocurrency miners from China and others looking to capitalize on low cost electricity.

10.11 / 20:09

BlackRock Holdings Evergrande plunge wipes $250m off BlackRock, Vanguard holdings

BlackRock and Vanguard are among the largest shareholders in Evergrande that have posted hundreds of millions of dollars in paper losses following a more than 80% share price drop in the troubled Chinese property developer.

10.11 / 16:17

Digital Progressive e-CNY China e-CNY follows this principle, work on multi-CBDC bridge in progress

The world has been watching the rapid rollout of China’s digital yuan, across the country. However, this was also reportedly followed by the country’s first crime involving the CBDC. According to reports, Xinmi Public Security working with the Anti-fraud Center of the Zhenzhou Public Security Bureau arrested 11 people in early November for laundering the CBDC.

10.11 / 12:27

business regulation Bitcoin exit services Huobi to halt services in Singapore after China exit

Huobi Global, one of the world’s largest cryptocurrency exchanges by trading volumes, is winding down operations in Singapore shortly after exiting China.

10.11 / 12:23

Binance Action Dreams Huobi Huobi Global adds Singapore to its ‘restricted jurisdictions’ list

After the Chinese government’s crackdown on crypto-transactions, Huobi might have thought it will find home again in Singapore. However, an announcement from the crypto-exchange has made it clear that Huobi will be bidding goodbye to many of its users yet again.

10.11 / 09:05

COST China’s Factory Inflation Grows at Record Pace on Soaring Energy Prices

HONG KONG—China’s factory-gate prices surged at a record pace in October due to higher energy costs, adding to anxieties that global inflation will persist while constraining Beijing’s ability to stimulate the nation’s economy.

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