Province Jiangsu Financial News

BEIJING — Chinese videostreaming platform iQiyi announced Thursday it plans later this year to open its first full-fledged theme park in China based on characters from its own shows.

Organizers of a Chinese math competition say a vocational school student who finished near the top in the first round was helped by her teacher in violation of the rules

Chinese economy looks like it is taking a major hit from certain provinces, that is making their possibilities of finishing on a high, even more difficult. The economic slowdown in China is slowly becoming a harsh reality, with the Asian country seeing five provinces going through a sharp downswing effect in recent days, with Tibet and Jilin taking centerstage in this doomsday scenario, according to a Bloomberg report.

Chinese authorities are demanding that a growing number of schoolteachers and other public sector employees hand in their passports as President Xi Jinping tightens his grip on society.

Federal prosecutors have charged two former Los Angeles County sheriff's deputies and two former foreign military officials with threatening a Chinese national and his family with violence and deportation during a sham raid at his Orange County home

Tesla's best-selling Model Y was included in a list of electric and plug-in hybrid models that a local government in China can purchase as a service car, according to the official Chinese media outlet the Paper on Thursday. It was the first time Tesla's cars have been made eligible for government purchases in China, the Paper added. China's eastern Jiangsu provincial government published 56 batches of new energy vehicle procurements for use as service cars by party, government and public organisations in a government statement on June 6.

China’s property slump has weighed heavily on land sales, drying up a key source of revenue for local governments. Now, authorities are looking at an unconventional way to fill up their coffers: data monetization. The protracted property downturn has hit local governments hard, with many struggling under huge piles of debt.

Suzhou, China, has reported that more than 29.16 million residents now have digital yuan wallets, as the nation’s CBDC project continues to gather pace.

A Chinese power provider says it has completed the first digital yuan smart contract transaction in the solar power industry.

Binance, the world's largest cryptocurrency exchange Changpeng Zhao, or CZ, as he is fondly known by crypto enthusiasts, has stepped down from his role after pleading guilty to breaking US anti-money laundering laws, as per a Reuters report. Also Read: What is Binance’s connection with terrorist groups like Hamas, Al Qaeda, ISIS, and Palestinian Islamic Jihad? Explained Zhao agreed to a $4.3 billion settlement deal in a Seattle court on November 21, including a personal payout of $50 million, to resolve the matter, the news agency said quoting prosecutors in the case. They added this is among the largest corporate penalties in the United States' history.

China, warning the public that visibility could drop to less than 50 metres (164 feet). Northern province Hebei launched an anti-pollution emergency response, listing traffic safety controls for when necessary including suspending flight takeoffs and landings, temporarily closing highways and suspending ferries, China's meteorological bureau said in a notice. Authorities also warned road users to stop in safe parking areas when conditions required and asked people to stay indoors. Beijing said it would implement traffic control measures if the capital activates its highest air pollution warning. Heavy smog has engulfed the country's north for a few days while autumn temperatures soared to typical early summer levels close to 30 degrees Celsius (86 degrees Fahrenheit) in some areas. Experts said weak cold air currents from the north pole were a key factor behind the unusual weather. As air pollution levels in the wider Beijing-Tianjin-Hebei area and northern part of Henan province reached moderate to severe, pollution control experts said increased industrial activities, heavy trucking and crop fires had contributed to the haze, state media CCTV reported. Regional power consumption in late October was up 5% compared with first half of the month, more significantly in the cement, brick and tile industries, worsening conditions, CCTV said. Parts of Tianjin municipality and Hebei and Shandong provinces, as well as eastern areas of Jiangsu province saw heavy fog resulting in visibility of less than 1 km (0.62 mile) on Tuesday morning, the National Meteorological Center (NMC) said. Until Thursday, light to moderate haze will continue to cover the central and southern parts of China's northern region, with severe haze

Chinese state media report that Foxconn, a Fortune 500 company known globally for making Apple iPhones, was recently subjected to searches by Chinese tax authorities

tornado in eastern China killed 10 people and seriously injured several others, state media said Wednesday, the latest in a string of extreme weather events to strike the country. «Yesterday afternoon, a strong tornado occurred in Suqian, Jiangsu Province… causing casualties and property loss in certain areas,» state broadcaster CCTV said. The tornado affected more than 5,500 people, with 137 houses collapsing, according to «preliminary statistics» cited in the report. More than 400 people have been temporarily relocated because of the twister, state media said. Video footage shared on social media by the state-run People's Daily showed high winds whipping debris around above residential buildings, as well as a street strewn with fallen signs and other objects. China saw record-breaking downpours and weeks of historic heat this summer, with scientists saying such extreme weather events are being exacerbated by climate change. Whole villages in Jiangsu were levelled and at least 98 people were killed in 2016 after the region was hit by a storm with hurricane-force winds and the worst tornado in half a century.

Chinese cities last week removed restrictions on home buying, as the Asian giant gradually rolls back a crackdown on the property sector in a bid to revive its economy. Dalian and Shenyang, two of the most populous cities in the northeastern province of Liaoning, separately announced they will no longer restrict the number of properties residents can buy in most parts of the city, while offering subsidies for buyers and tax relief for sellers. Nanjing, the provincial capital of affluent Jiangsu province, said it would let people buy flats without proof of eligibility in four districts, effectively easing its last restrictions on home purchases. These announcements come on the heels of a series of nationwide support measures for the property sector, including lower mortgage rates for first-time homebuyers.China's debt-riddled property sector accounts for one-quarter of the state's economic activity.

A Chinese town has agreed to become a digital yuan “demonstration town” after striking a CBDC deal with a major, state-run bank.

The government in the Chinese city of Shanghai issued an implementation plan on July 31 for promoting the development of its urban blockchain digital infrastructure system in the time frame of 2023-2025, according to an update on the government’s webpage. 

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.

Talim. The authorities have also asked residents to stay at home. Tens of thousands of people were being evacuated in southern China and Vietnam on Monday, and dozens of flights cancelled as a typhoon barrelled towards land.

China's President Xi Jinping, on an inspection tour of a major industrial province, renewed his call for greater innovation and technological self-reliance, as the United States intensifies curbs on Chinese access to advanced technologies. China should accelerate the upgrades of key technologies and core products, state-run Xinhua news agency reported on Friday, citing Xi during his visit to a company's high-tech manufacturing zone in eastern Jiangsu province.

Chinese healthcare and energy sector providers will allow patients and customers to pay with the digital yuan, in new breakthroughs for the nation’s central bank digital currency (CBDC).