City Shenzhen, China Financial News

Shenzhen, China started offering physical cards and discounts to Hong Kong tourists in order to drive the cross-border use of its digital yuan - but the first few days seem to have been a bit slow. 

Subscribe to enjoy similar stories. SHENZHEN, China—One of the most popular events at a Chinese exporters’ exhibition last week was a session teaching merchants how to sell more in Russia. Hundreds of attendees listened intently as employees of Russian e-commerce companies explained what Russian consumers like to buy online.

Subscribe to enjoy similar stories. Logistics operators with roots in China are taking on more warehouse space across the U.S. amid broad changes in sourcing, manufacturing and global trade flows.

Motherson Group is poised to enter the growing Apple supply chain network in India along with Hong Kong-based BIEL Crystal Manufactory, one of the world’s largest suppliers of glass for smartphones, said people with knowledge of the matter. This will make the Vivek Chaand Sehgal-led auto component maker the second large business group after Tata to become a vendor for Apple as part of Motherson’s plan to use its core manufacturing prowess to diversify into other segments. BIEL was established in 1989 by billionaire Yeung Kin-man in Shenzhen, China, to make watch crystals. The company says it’s one of the earliest manufacturers of glass screens for mobile devices, having begun in the early 2000s, when they were made mostly of plastic. By some estimates, BIEL currently produces glass screens for two of every three iPhones. The 51:49% alliance, the Indian company will have the majority stake, is planning to set up a greenfield manufacturing capacity in the south, most likely Tamil Nadu, with an estimated outlay of Rs 2,000-2,500 crore, said the people cited above. It aims to hit a turnover of Rs 8,000-8,500 crore in four-five years after operations start. The consumer electronics business is scheduled to come onstream in the July-September quarter.

Apple is scouting for new suppliers — Indian, Japanese and South Korean — which can provide crucial components to its contract manufacturers in India, people aware of the matter told ET. This comes on the back of delayed government approvals for imports from existing suppliers — primarily of Chinese origin — of batteries, camera lens, chargers and other equipment required to make its flagship iPhones and iPads in India, they said.

SHENZHEN, China (Reuters) — No new infectious diseases have been found so far in investigations of respitory illness, Mi Feng, an official with China's National Health Commission said in a press conference on Saturday.

SHENZHEN, China (Reuters) -Toyota Motor has halted production on some ageing lines at a joint venture in China while operations continue as normal, the Japanese automaker said on Saturday after a media report that it was partially suspending production due to weak sales.

Singapore's Temasek Holdings warned that scammers are allegedly trying to sell financial investment products or instruments to unsuspecting individuals while posing as agents of the firm's office in Shenzhen, China.

By David Kirton

Shenzhen, China, is readying a new digital yuan giveaway as the city looks to showcase the CBDC at a range of upcoming sporting events.

By David Kirton and Max A. Cherney

Honor sees India as a “huge” market and is working with its local partners on setting up operations to tap into the opportunities in the world’s second largest smartphone market where it is seeking a re-entry, said its CEO George Zhao. “India is a huge market for everyone. We are very careful about the market.

The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the nation’s central bank digital currency (CBDC) pilot breaks new ground.

Hayden Adams, the creator of the Uniswap protocol, recently expressed his surprise on Twitter regarding a scam where individuals created a fake Uniswap website.

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The city of Shenzhen, China’s southeastern metropolis that connects the mainland to Hong Kong, has begun to issue digital yuan hard wallets to Hong Kong tourists, but demand has fallen short of expectations thus far.

Shenzhen, China, has begun a retail-focused “cross-border” digital yuan pilot with Hong Kong.

Bitcoin price prediction for December 27 is bearish, with a drop to $16,600. A cryptocurrency mining pool, BTC.com, and its parent company, BIT Mining Ltd., revealed that the company had been the victim of a cyberattack on December 3 that resulted in the loss of approximately $3 million in assets. 

BTC trades with a neutral bias on December 26, keeping Bitcoin price prediction stable. Most financial markets are closed in observance of Christmas Day, but it's worth keeping an eye on the market for any unexpected price movement.

Major cryptocurrency mining pool BTC.com has suffered a cyberattack resulting in a significant loss of funds by the company and its customers.