City Suzhou Financial News

01.02 / 14:15

UPS Citi Digital Citizens Changsha, China: 300,000 of Our Merchants Accept Digital Yuan

Over 300,000 stores and vendors in Changsha, China, now accept digital yuan payment – as the central bank digital currency continues to break new ground in the country.

09.09 / 12:01

UPS Manufacturing economy Nov Healthcare hospital China opens more sectors to foreign investment

China deepened its push to further open up the economy, eliminating restrictions on the manufacturing sector and expanding opportunities for foreign investment in the health sector in an effort to revive growth. The Chinese government will reduce its list of industries off-limits to foreign investors to 29 from 31 and fulfill its pledge of zero restrictions on the manufacturing sector, the National Development and Reform Commission and the Commerce Ministry said in a joint statement on Sunday. The new list, set to take effect Nov.

28.08 / 14:44

COST Citi Provident Digital reports Schools diving HSBC China Rolls Out e-CNY Services for Corporates, Signalling Foreign Banks’ Dive into Digital Yuan

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

10.06 / 09:05

CBDC Banks HSBC China Rolls Out e-CNY Services for Corporates, Signalling Foreign Banks’ Dive into Digital Yuan

HSBC China is now offering e-CNY services to its corporate clientele. The development marks it as the first foreign bank within the nation to extend services associated with the central bank’s digital currency to both retail and corporate sectors.

19.04 / 07:04

CBDC China Opens e-CNY Research Institute, Appoints First Expert Panel

The e-CNY Research Institute has been inaugurated to support advancements of China’s central bank digital currency (CBDC).

08.12 / 02:39

Citi Digital Citizens Platform reports end Chinese Cities Launch End-of-Year Digital Yuan Giveaways

More Chinese cities will give away digital yuan tokens and discount vouchers this month, as the People’s Bank of China (PBoC) looks to spur CBDC adoption.

04.09 / 07:29

PBoC China’s Central Bank Official Stresses on Use of Digital Yuan in Retail Sectors

The head of the Digital Currency Research Institute at the People's Bank of China (PBOC), Changchun Mu, has emphasized the necessity of making the digital yuan available for all retail payment scenarios.

18.08 / 06:31

UPS Citi Digital Progressive China’s Shanghai and Suzhou Ready Fresh CBDC Adoption Drive

The Chinese cities of Shanghai and Suzhou are eyeing more digital yuan adoption progress as the nation tries to drive up interest in its CBDC.

21.07 / 09:33

Blockchain CBDC Adoption Peoples Bank of China Yuan Digital yuan integration introduced to Chinese business air travel

As the pilot program for China’s central bank digital currency (CBDC) — the digital yuan — takes off, Chinese business travelers will reportedly be able to pay for flight tickets using the CBDC.

20.07 / 07:33

Reuters Manufacturing Platform Compilation country Chinese professor says youth jobless rate might have hit 46.5%

Chinese professor that the country's youth unemployment rate might have hit close to 50% in March has revived a debate about official statistics and focused attention on a weak labour market. The National Bureau of Statistics said that month's jobless rate for people between the ages of 16 and 24 was 19.7%, less than half of what Peking University professor Zhang Dandan estimated. If 16 million non-students «lying flat» at home or relying on their parents were included, the rate could have been as high as 46.5%, Zhang wrote in an online article in Caixin, a respected financial magazine.

30.06 / 06:47

UPS Citi Provident Digital Chinese Firms Using Digital Yuan to Pay Electricity Bills

Energy providers in China are adding digital yuan payment options, allowing companies and individuals to settle their bills in the nation’s central bank digital currency (CBDC).

18.05 / 07:49

Target Digital Southern Chinese Universities Begin Adopting Digital Yuan – Students to Lead CBDC Drive?

Universities in China say they are adopting the digital yuan, and looking for ways to allow students to use the nation’s central bank digital currency (CBDC) in “every” aspect of their campus lives.

14.04 / 10:37

CBDC China’s CBDC Registers Housing Aid Firsts – Digital Yuan Adoption Gathers Pace?

It has been another busy week for China’s central bank digital currency (CBDC), the digital yuan, with the token finding new usage cases in the fields of housing aid public resource transactions.

06.02 / 08:13

CBDC Adoption Digital Currency Central Bank Yuan boost China doles out millions in digital yuan in bid to boost adoption: Report

Millions of dollars worth of China’s Central Bank Digital Currency (CBDC) has been handed out across the country over the Lunar New Year period in a bid to boost its takeup.

02.02 / 21:49

business Blockchain CBDC Yuan e-CNY Chinese Communist Party officials issue KPIs for e-CNY transactions in Suzhou

According to local news outlet JS China, on Feb. 1, an annual meeting regarding the trial of the digital yuan central bank digital currency (e-CNY CBDC) was attended by senior Communist Party officials in the City of Suzhou. As part of the meeting outcomes, party officials have set a tentative key performance indicator (KPI) of 2 trillion CNY ($300 billion) for e-CNY CBDC transactions in the city by the end of 2023 to be implemented by municipal administrators through promotional efforts.

20.09 / 20:25

business CBDC Yuan Winter Olympics China will expand CBDC trials to most populous province: Report

The People’s Bank of China, or PBoC, will reportedly expand deployment of its central bank digital currency, the e-CNY, to four of the country’s provinces, including Guangdong.

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.

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