City Beijing Financial News

11.01 / 04:21

CBDC Adoption Central Bank Winter Olympics Chinese App Marketplaces Report Massive Growth in Digital Yuan Wallet Downloads

China is teasing the launch of its digital yuan again, riding a wave of adoption with just weeks to go until the Winter Olympics in Beijing – the event the government hopes will finally allow the central People’s Bank of China (PBoC) to showcase its coin to the world.

10.01 / 16:41

Stablecoin Adoption App Store CBDC wallet tops mobile app store charts in China

The official digital yuan wallet app that was released as a pilot version to be used in select cities has still managed to top app store charts in its first week.

06.01 / 18:41

Adoption Central Bank WeChat Winter Olympics WeChat Pay Interoperability is Another Key Breakthrough for Digital Yuan Pilot

Payment platform WeChat Pay began its own digital yuan journey, at the time when millions of Chinese citizens are getting their first taste of what life is like with a central bank digital currency (CBDC) – as citizens in some of the country's biggest cities began using a pilot version of a CBDC app.

31.12 / 20:29

UPS Target Deal Beijing Fell Short on Trade Deal Promises, Creating Dilemma for Biden

WASHINGTON—Beijing’s commitment to step up purchases of U.S. goods and services under a 2020 trade pact expires Friday with China expected to miss its targets by a wide margin, creating a dilemma for the Biden administration as it calibrates a response.

31.12 / 12:33

Blockchain Adoption Beijing Shanghai includes Metaverse in its development plan

Shanghai, China's most crowded city, is looking for ways to use metaverse in public services over the next five years.

27.12 / 13:57

cryptocurrency Legal Bitcoin Recent Chinese Bitcoin Court Ruling ‘Not an Isolated Case’ & Part of ‘an Ongoing Trend’

A court ruling in China from earlier this month claiming that a Bitcoin (BTC) mining contract was “void” was not an outlier, according to a new report, which added that Chinese courts have made similar rulings prior to the crackdown this year.

27.12 / 12:23

Manufacturing Tesla foreign Foreign investment China to remove limits on foreign investment in passenger car manufacturing

BEIJING — Chinese authorities will allow full foreign ownership of passenger car manufacturing in the country beginning Jan. 1, 2022.

27.12 / 12:23

IPO SEC Shell IPOs China is clarifying rules for overseas IPOs. Here's what we still don't know.

BEIJING — Half a year since the rush of Chinese IPOs to the U.S. dried up, many details remain unknown for companies wanting to pursue such international listings.

25.12 / 19:23

Twitter Yellow Huobi Bitcoin MEXC Crypto exchange MEXC Global to ‘retire’ Mainland China user accounts

It took just over three months for Bitcoin miners to disappear from China. New data from researchers at the University of Cambridge revealed the swift impact of Beijing’s crackdown on cryptocurrency mining.

23.12 / 08:35

History Hong Kong university removes Tiananmen massacre statue

A monument at a Hong Kong university that commemorates the 1989 Tiananmen Square massacre was removed by workers early Thursday over the objections of its creator from Denmark.

22.12 / 15:19

Blockchain NFT Non-fungible tokens Chinese Communist Party's Mouthpiece Endorses NFTs in a Surprise Move

Xinhua, the news agency of the Chinese Communist Party (CCP), has announced that it will release a set of non-fungible tokens (NFT) later this week as part of a “metaverse” move.

21.12 / 13:16

Gaming Tencent regulatory Chinese Tech Giants Ready Metaverse, NFT Moves Despite Regulatory Scrutiny

China’s tech giants are hopeful of launching metaverse and non-fungible token (NFT) businesses despite suffering a torrid year at the hands of the country’s vehemently anti-crypto government. Heavy-hitters including JD.com and Alibaba have laid out plans that involve metaverse and NFTs, although regulations have forced them to make cosmetic name changes.

20.12 / 18:11

Mining Bitcoin Hashrate 20% of Bitcoin Hashrate Is ‘Still in Mainland China,’ Report Claims

As much as 20% of the world’s total bitcoin (BTC) mining hashrate may still be based in Mainland China despite September’s crackdown, a new report has indicated.

18.12 / 18:24

Digital Williams CEO Tesla Chinese electric car start-up Nio reveals a new sedan, augmented reality glasses

BEIJING — Chinese electric car company Nio revealed Saturday a new sedan and custom augmented reality (AR) glasses that reduce the need for in-car screens.

17.12 / 06:01

MET Cooper Action analysts SOLIDARITY Support China and Russia show solidarity, but likely won't support each other militarily, analysts say

BEIJING — International pressure may have pushed China and Russia closer together, but not enough for the two countries to send military support to each other, U.S.-based analysts said.

16.12 / 13:19

Law Asia Court Bitcoin compensation Beijing court rejects monetary compensation in Bitcoin mining contract plea

A district court in Beijing has rejected monetary compensation in a Bitcoin (BTC) mining contract plea against a blockchain company.

15.12 / 15:11

MET Reuters Remark China's Xi reportedly backs Putin in Russia's bid for security guarantees from the West

BEIJING — Chinese President Xi Jinping and Russian President Vladimir Putin held their second dedicated video call of the year Wednesday, amid rising international concerns about tensions on the Russia-Ukraine border.

15.12 / 14:24

UPS Consumption China’s Economic Activity Slowed in November on Property Slump, Weak Consumption

HONG KONG—China’s economic activity decelerated in November amid a prolonged property slump and sluggish consumption recovery, adding urgency for Beijing to step up efforts to support the world’s second-largest economy.

14.12 / 06:33

Citi CEO Pfizer reports Mainland China reports its first omicron Covid case

BEIJING — Mainland China reported its first case of the omicron Covid variant on Monday in the city of Tianjin, about two hours' drive from the capital of Beijing.

14.12 / 04:07

Lowe's FIVE Baidu NOT Here are the 10 U.S.-listed Chinese stocks with the greatest American ownership — and Alibaba's not one of them

BEIJING — The U.S.-listed Chinese stocks with the greatest share of American ownership don't include many of the big names familiar to Wall Street, according to a Morgan Stanley report.

13.12 / 11:30

MET Reuters Assurant China's Xi is set to meet Russia's Putin virtually on Wednesday

BEIJING — Chinese President Xi Jinping is set to meet virtually with Russian President Vladimir Putin on Wednesday, China's Ministry of Foreign Affairs said Monday.

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