City Shanghai Financial News

09.08 / 12:25

Digital Cooper CEO MetaUp Metaverse Brand Marketing Summit 2022 Successfully Held in Shanghai

Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

08.08 / 05:33

cryptocurrency Digital Currency Web3 Metaverse How the metaverse accelerates economic development for emerging economies

Metaverse’. This comes at a time when the inflation rate has reached its peak due to siloed ecosystems, distribution nightmares, and the rising costs of centralization control — which is pushing the dire need for decentralized architecture. However, the rising advancement of virtual and augmented reality technologies have made businesses and nations recognize the potential of the virtual worlds.

03.08 / 19:21

business Blockchain Loans Chinese municipal bank issues first-ever digital yuan loan using intellectual property as collateral

As reported by local news outlet Sohu, on Wednesday, the Agricultural Commerce Bank of Zhangjiagang, located in China's Suzhou province, announced that it had issued a 500,000 digital yuan (e-CNY) loan with intellectual property backing it as collateral. The loan was issued via unanimous approval by the city's consumer markets regulator, financial markets regulator and municipal officials.

02.08 / 18:23

markets Predictions Bitcoin Bitcoin Price Bitcoin price clips $23K on Pelosi Taiwan visit as trading range persists

Bitcoin (BTC) saw volatility after the Aug. 2 Wall Street open amid ongoing market reactions to tensions between the United States and China.

01.08 / 07:49

UPS Ethereum BAY Up by 398%, here’s what’s next for Lido DAO on the charts

Lido Finance has gone unnoticed recently, with Ethereum and its Merge keeping everyone at bay. Lido is making huge strides in the DeFi market with its liquid staking protocols now more attractive than ever. In fact, staking providers such as Lido are expected to blossom further as the Merge edges closer.

01.08 / 05:57

IPO Manufacturing Chinese companies flock to Switzerland to raise money with new stock listings

BEIJING — Chinese companies looking to raise cash overseas have turned to Switzerland — and gotten speedy regulatory approval to do so.

28.07 / 16:33

Citi Target Remark China signals no big stimulus is coming, while Covid controls remain

BEIJING — China's top leaders signaled Thursday that no big stimulus for economic growth was on the way, and downplayed the necessity of achieving the «around 5.5%» GDP target.

26.07 / 12:55

Provident Target network China Targeted Fed to Build Informant Network, Access Data, a Probe Says

China tried to build a network of informants inside the Federal Reserve system, at one point threatening to imprison a Fed economist during a trip to Shanghai unless he agreed to provide nonpublic economic data, a congressional investigation found.

22.07 / 13:17

business regulation credit cards Buying crypto with credit card is now indirectly banned in Taiwan

Taiwan’s Financial Supervisory Commission (FSC), a chief financial regulator, issued a note to the banking industry, indicating that they should not grant the virtual assets providers (VASPs) the status of merchant in operations with credit card holders. That means a de-facto ban on buying crypto with a credit card on the island.

21.07 / 23:49

cryptocurrency Tesla Bitcoin elon Tesla sells 75 per cent of its Bitcoin as profits slump in crypto U-turn for Elon Musk

Tesla has sold a large proportion of its cryptocurrency holdings, after making waves last year revealing it had a significant investment in Bitcoin.

14.07 / 17:31

COST China Set to Post the Slowest Growth in Two Years on Zero-Covid Policy

SINGAPORE—China is expected to record its weakest growth rate in more than two years, a measure of the costs imposed on the world’s second-largest economy by Beijing’s zero-tolerance approach to Covid.

13.07 / 15:25

Blockchain Adoption Shanghai included blockchain, NFTs and Web3 in its 5-year plan

China's biggest city Shanghai officially intends to boost the development of innovations such as blockchain, nonfungible tokens (NFTs), metaverse and Web3 in general during its next five-year plan.

13.07 / 04:55

Manufacturing Enterprise Parke Bitcoin Tracing the next steps in Shanghai’s plans for the Metaverse

Shanghai wants to lead China’s economic recovery by promoting the growth of metaverse goods and services, low-carbon energy initiatives, and smart terminal technology.

04.07 / 08:59

UPS IPO Manufacturing Chase Here are the China trends investors bet money on during a sluggish few months

BEIJING — By the numbers, manufacturing companies in China snagged the most investment deals in the first half of the year among 37 sectors tracked by business database Qimingpian.

01.07 / 17:05

Blockchain UPS Waves A LPL-like Tournament in the GameFi Circle, Offering 500K USD in Total Prize: DracooMaster Champion Series 2022 Unveiled

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

30.06 / 09:13

UPS Citi MET In China, more and more people want to save money as job worries grow

BEIJING — Chinese consumers' inclination to save is at its highest in two decades, the People's Bank of China found in a second quarter survey.

28.06 / 20:17

Disney Airlines Nike Stocks making the biggest moves midday: Nike, Las Vegas Sands, Boston Beer and more

Check out the companies making headlines in midday trading.

28.06 / 12:23

Citi JPMorgan Southern travelers Time International China cuts quarantine time for international travelers in big step toward easing Covid controls

BEIJING — China cut the quarantine period for international travelers on Tuesday, a big step toward loosening Covid controls that have persisted for more than two years.

21.06 / 00:38

Law regulation Scams Chinese court invalidates 2019 car sale made using now worthless crypto token

Last week, a WeChat post published by the Shanghai Fengxian Court began circulating in crypto circles with regards to its recent ruling on a car sale in May 2019 made using digital currency. At the time, the buyer, identified only as Mr. Huang, signed a sales contract to purchase a 2019 Audi AL6 for CNY 409,800 ($59.477) in exchange for the consideration of 1,281 Unihash (UNIH) tokens with an undisclosed car dealership in Shanghai. Per the original contract, the seller was to deliver the car to Huang within three months' time.

17.06 / 14:37

Tencent NFT platforms in China grow 5X in four months despite government warnings

The popularity of nonfungible tokens is on the rise as recent data shows that the number of digital collectible platforms in China has grown to over 500, a 5X increase from February 2022, when the total number of NFT platforms was just over 100.

15.06 / 05:19

Citi Reuters Aware China's economic numbers come in better than expected, but 'difficulties and challenges' remain

BEIJING — China released economic data for May that topped muted expectations for a month hampered by Covid controls. Industrial production rose mildly by 0.7% in May from a year ago, versus an expected 0.7% drop, according to analysts polled by Reuters. In April, industrial production unexpectedly fell, down by 2.9% year-on-year. Retail sales fell less than expected, down by 6.7% in May from a year ago. Retail sales were estimated to have declined by 7.1% in May from a year ago, according to the Reuters poll. In April, retail sales fell by 11.1% from a year ago. Fixed asset investment for the January to May period rose by 6.2%, topping expectations of 6% growth.

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