City Beijing Financial News

26.01 / 12:29

UPS Ford Manufacturing boost Chinese companies boost overseas investment in consumer products, EV supply chain

BEIJING — Chinese companies invested more in consumer sectors and the electric vehicle supply chain worldwide, even as geopolitics restricted overall outbound capital flows, according to a report released Wednesday by Baker McKenzie and Rhodium Group.

26.01 / 09:29

IPO JPMorgan Action Strategy IPOs Crackdown on Chinese IPOs in the U.S. could make investors think twice about betting on tech

BEIJING — Investors may have to think twice about whether to bet on Chinese tech start-ups as new regulations are imposed on mainland companies looking to go public in the U.S.

25.01 / 21:13

defi Investments DEX ICO veteran Why crypto industry needs venture capital: Q&A with veteran investor

Traditional funding in the crypto space was once considered useless. After all, the industry itself offers different, controversial, but nonetheless, ways to fund a project – initial coin offering (ICO), initial exchange offering (IEO) and the current darlings of offerings – launchpads and initial decentralized exchange (DEX) offerings.

25.01 / 02:17

Blockchain Adoption regulation Chinese Local Gov’ts, Tech Firms Take Tentative Metaverse Steps

Chinese government-run firms and local governments are starting to explore metaverse-related innovations – although they are proceeding with due caution, given the fact that the nation last year enacted its most stringent crypto crackdown to date.

24.01 / 09:23

UPS Citi Southern 2020 China's consumers spent $73.6 billion on luxury goods at home last year, up 36% from 2020

BEIJING — Chinese consumers are spending more on luxury goods at home, even if they can't easily travel abroad due to pandemic-related restrictions, consultancy Bain & Company said in its annual report on the luxury sector.

21.01 / 19:47

China Cuts Benchmark Rates to Bolster Flagging Economy

BEIJING—China’s central bank lowered its benchmark lending rates, stepping in to support a slowing economy that has been weighed down by a slump in the property market during a politically important year for leader Xi Jinping.

21.01 / 00:41

Provident Digital Platform Mobile Winter Olympics e-CNY China: e-CNY final preparations underway ahead of Winter Olympics curtain lifter

China is nearing its e-CNY official debut when the Winter Olympics commences on 4 February, 2022.

20.01 / 05:31

CBDC Adoption Central Bank Chinese Central Bank: In Pilote Stage, Digital Yuan Has 261M Active Users

China’s central People’s Bank of China (PBoC) has claimed over 261m users in the nation activated digital yuan wallets by the end of last year – in addition to the 20 million-plus who have downloaded its official pilot app, which was released to marketplaces in some cities earlier this month.

19.01 / 12:36

Lowe's ByteDance TikTok TikTok owner ByteDance dissolves its investment arm

BEIJING — TikTok owner ByteDance has disbanded its investment department, a company spokesperson told CNBC on Wednesday.

18.01 / 20:20

COST UPS Reuters Manufacturing China's economy grew 8.1% in 2021 compared to a year ago

BEIJING — China's economy grew by 8.1% in 2021 as industrial production rose steadily through the end of the year and offset a drop off in retail sales, according to official data from China's National Bureau of Statistics released Monday.

18.01 / 18:47

Citi Provident Digital Mobile China's digital yuan notches $8.3 billion in transactions in 6 months, taking a tiny share of payments

BEIJING — In a country where consumer payments are measured in the trillions, China's digital yuan has made little headway, according to 2021 figures released by the central bank on Tuesday.

18.01 / 17:34

UPS Tesla CAT Токены Here's the full list of the best-selling electric cars in China for 2021

BEIJING — Tesla and BYD remained by far the market leaders in China's electric car market in 2021, while new competitors emerged against smaller rivals like Nio, according to the China Passenger Car Association.

18.01 / 15:41

Ripple Action In China, the Economic Buzzword for 2022 Is Stability

HONG KONG—China’s leaders spent much of 2021 rolling out a blizzard of new regulations aimed at addressing long-running imbalances in the economy. This year, Beijing wants to ensure the ripple effects of those moves don’t cause too much disruption.

18.01 / 11:33

Blockchain Scams Police Rug Pull Chinese police unearth multi-million dollar DeFi rug pull

Beijing’s crackdown on crypto continued with the start of the new year as Chinese police froze nearly 6 million yuan ($1 million) worth of crypto and arrested eight people involved with it.

18.01 / 04:51

Blockchain CBDC Adoption Central Bank Malaysia’s Central Bank actively assessing CBDC options

Malaysia has joined the growing cadre of nations that are exploring the value of researching and developing a central bank digital currency (CBDC).

17.01 / 06:21

UPS Target China GDP Grew 8.1% in 2021, Though Momentum Slowed in Fourth Quarter

BEIJING—China’s economy expanded 8.1% last year as a pandemic-plagued world snapped up its goods, though slowing growth in the final months of the year points to challenges ahead for its economy.

14.01 / 06:17

UPS Citi Reuters China's December exports rose 20.9% from a year ago, slightly more than expected

BEIJING — China's exports grew slightly more than expected in December, while imports rose less than expected, according to customs data released Friday.

13.01 / 16:53

China Looks to Secure Supplies as Strains With U.S. and Its Allies Grow

Beijing is trying to fortify the Chinese economy against a prolonged period of tension with the U.S. and other countries, stockpiling some essentials and planning on more domestic production as it accelerates efforts to make China less dependent on the world.

11.01 / 23:56

Why Bridgewater’s Ray Dalio is backing China’s push for prosperity under President Xi Jinping

Bridgewater Associates founder Ray Dalio backed China’s push for “common prosperity”, or greater equality, under President Xi Jinping and said countries such as the US could benefit from a similar approach.

11.01 / 15:33

CBDC Adoption Central Bank Winter Olympics International Digital Yuan Ready for International Olympic Showcase at Beijing 2022 Games

China will allow overseas visitors from around the world to use its digital yuan for the first time at next month’s Winter Olympics, the central People’s Bank of China (PBoC) has confirmed.

11.01 / 10:41

Why Bridgewater’s Ray Dalio is backing China’s push for prosperity under President Xi Jinping

Bridgewater Associates founder Ray Dalio backed China’s push for “common prosperity,” or greater equality, under President Xi Jinping and said countries such as the US could benefit from a similar approach.

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