China Financial News

10.11 / 08:53

Cryptocurrencies news Bitcoin Price Crypto market m-cap hits $3 trillion mark; will the frenzy continue?

With this, the total value of cryptocurrencies was more than the GDP of nations like the United Kingdom, France, India and Italy. However, it lagged countries like the United States, China, Japan and Germany. This is an important milestone for the crypto industry and re-emphasizes investors’ trust in the potential of blockchain technology to disrupt the way digital natives interact with the internet, said Sharan Nair, Chief Business Officer, CoinSwitch Kuber.

10.11 / 07:29

Reuters Cooper Remark Xi says China is ready to work with U.S. on condition of 'mutual respect'

BEIJING — Ahead of an expected virtual meeting with U.S. President Joe Biden, Chinese President Xi Jinping said the country is willing to work with the U.S. — on condition of mutual respect.

10.11 / 00:37

Blockchain Technology Adoption PBoC governor says digital yuan to be more privacy-enhanced than payment apps

During a virtual video session at the Bank of Finland Institute for Emerging Economies' 30th Anniversary Conference, People's Bank of China governor Gang Yi discussed recent developments regarding the country's central bank digital currency, or CBDC, known as the digital yuan (e-CNY). Gang specifically addressed the issue of privacy surrounding the Digital Yuan in the following statement, as translated by Cointelegraph:

09.11 / 19:43

Ethereum ETF SEC Bitcoin Apple CEO Owns Bitcoin Or Ethereum, Austrian Crypto Tax + 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.__________

09.11 / 07:25

Platform Huobi Bitcoin New theory suggests China’s ban on Bitcoin was motivated by something else

Businesses in China have been losing revenue since the country’s policy decision to ban Bitcoin and other related operations. According to the latest reports, Huobi Global, one of the largest exchanges in China, has lost around 30% of its revenue. Meanwhile, other platforms and miners have found new homes across the globe.

09.11 / 04:25

FIVE Progressive Fallout Moodys China's property market could see more pain, even as Evergrande crisis seems to be abating

BEIJING — Worries about Chinese real estate developers' high debt levels have rattled investors despite signs that property giant China Evergrande may be making progress on resolving its debt problems.

08.11 / 21:11

Government Blockchain Adoption Bitcoin Huobi Group is moving to Gibraltar following China crackdown

Huobi Group, a Bitcoin (BTC) technology firm established in 2013, is relocating its spot-trading business to Gibraltar as a precautionary measure following China’s cryptocurrency clampdown.

08.11 / 16:17

China’s Economy Faces Risk of Yearslong Real-Estate Hangover

HONG KONG—China’s aggressive campaign to root out speculative real-estate activity could slow the country’s growth rate for years to come, economists say, even if the worst-case scenario—a major housing correction with sharply falling home prices—is averted.

07.11 / 23:13

Remark week Economy Week Ahead: Inflation, Employment, GDP

Inflation data from the U.S. and China highlight this week’s slate of economic news.

07.11 / 16:27

UPS CEO Bitcoin Could Paraguay’s Bitcoin mining foray prove detrimental to its energy needs

Apart from starting a revolution to decentralize monetary institutions, Bitcoin is also infamous for another thing. It is often touted as a ‘dirty’ investment due to its propensity for high electrical consumption. Earlier in May, the erstwhile cryptocurrency mining capitals in China were completely shut down by the government due to environmental concerns. This has had miners scrambling to look for friendlier locations to set up shop, often employing creative means to achieve their ESG goals.

06.11 / 04:03

Ethereum cryptocurrency Bitcoin Crypto Websites Some Chinese Crypto Websites ‘Still Operational,’ Says State Media

Some Chinese sites are “still selling” crypto, raising funds in tokens like bitcoin (BTC) and ethereum (ETH), and circulating crypto-related news stories from within the Mainland, a report has claimed, citing evidence from government-aligned agencies.

06.11 / 01:19

Blockchain COST Bitcoin Laos expects crypto mining to deliver these gains

One relatively more affordable place to mine Bitcoin in Asia (excluding China) is Laos, thanks to its hydroelectric potential and electricity prices. What’s more, the landlocked country with a population of 7,416,475 seems to be realizing this too.

06.11 / 00:13

Mining Latin America Bitcoin Green Bitcoin Paraguay, Argentina Are ‘Targets for Crypto Miners’, May Provide Green Bitcoin Solution

“Several companies” are eyeing Latin America – and countries like Argentina and Paraguay in particular – as they look to create new bases for Bitcoin (BTC) and altcoin mining operations.

05.11 / 15:51

Blockchain COST UPS Bitcoin Despite crackdown, blockchain, metaverse going strong in China

While the Cambridge Bitcoin Electricity Index indicated that China held 0% of the average monthly hashrate share in August 2021, this may not be strictly accurate.

05.11 / 15:43

Aviat Cash-strapped China Evergrande is offloading its private jets to US investors

SINGAPORE — China Evergrande Group raised more than $50m last month by selling two of its private jets, according to people familiar with the matter, bringing in much needed cash to help avert a default on its US dollar debt.

05.11 / 05:41

Fallout Fitch Chinese real estate developer Kaisa halts trading in Hong Kong, as debt concerns escalate

Hong Kong listed shares of Chinese real estate developer Kaisa Group Holdings were halted on Friday, following news that it had missed a payment on a wealth management product earlier this week.

05.11 / 05:31

COST UPS Platform Action CBDCs: Project mBridge to enter pilot stage next year

CBDC fever has spurred many financial institutions across the world into action. Along with the BIS Innovation Hub, the Bank of Thailand, the Central Bank of the U.A.E., the People’s Bank of China [Digital Currency Institute], and the Hong Kong Monetary Authority are working together to develop a multi-CBDC platform – or bridge – for international remittances.

03.11 / 21:49

cryptocurrency Ecology Bitcoin Here’s Why Bitcoin Miners Should Pay Attention to COP26

The COP26 climate summit, currently being held in Scotland – albeit without key leaders from Russia and China in attendance – has thus far made no direct reference to bitcoin (BTC) or altcoins. But there may already be key takeaways from the decision already taken that could impact the industry, particularly miners.

03.11 / 21:33

Citi Digital Citizens e-CNY China sees 10% rise in e-CNY wallets, first case of money laundering using digital yuan

The Chinese government may want to reconsider the security of its central bank digital currency [CBDC] in the backdrop of Xinmi police’s crackdown on the first-ever case of money laundering using the digital Yuan.

03.11 / 21:12

MEPs defy Chinese pressure with visit to Taiwan

In a defiant move against China, seven members of the European Parliament have landed in Taipei for a three-day official mission to discuss disinformation and foreign electoral intervention.

03.11 / 20:39

Adoption ETF Bitcoin crypto ETFs Hong Kong regulator re-evaluates retail crypto ETFs laws

The Securities and Futures Commission, or SFC, in Hong Kong is reviewing regulations surrounding virtual currency transactions, including whether individuals can invest in exchange-traded funds, or ETFs.

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