Province Jiangxi Financial News

The central People’s Bank of China (PBoC) has added new functionality to its pilot digital yuan app – but it appears that some citizens are already trying to commit crimes using the new token, and have attempted to use it to launder money.

BEIJING — China's latest efforts to stem a bond market rally reveals wider worries among authorities about financial stability, analysts said.

killed after a fire broke out at a shopping mall in southwest China's Sichuan Province. The incident occurred on Wednesday around 6 pm at the 14-story building, located in a high-tech zone in the city of Zigong, Sichuan province, according to Chinese state media. Dramatic images and videos showed a huge column of black smoke billowing from the building. Several people were also seen gathered on a balcony. The rescue operation was completed on Thursday. Around 75 people who were trapped inside the building were evacuated, the local fire department said.

SINGAPORE (Reuters) -Small Chinese investors are scrambling even harder than foreigners to exit the country's crumbling stock markets, sending premiums on global index funds skyrocketing as they search for exposure to anything but the sputtering domestic economy.

«At 3:24 pm (0724 GMT) on January 24, a fire broke out on the below-ground level at a store… in Xinyu, Jiangxi,» the country's state broadcaster CCTV reported.

A Chinese government official has been sentenced to life in prison for both illegitimate business operations of running a 2.4 billion Chinese Yuan ($329 million) Bitcoin mining enterprise and unrelated charges of corruption. 

Beijing and other cities braced for severe flooding on Friday as summer storms rolled across many parts of China, while inland regions baked in intense heat, threatening to shrink the country's biggest freshwater lake. Wild weather swings have gripped China since April, causing deaths, damaging infrastructure and wilting crops as well as raising fears of its ability to cope with climate change. Historically, China enters its peak rainy season in late July, but extreme weather has made storms more intense and unpredictable, exposing heavily built-up megacities with poor or insufficient drainage to potentially deadly floods. In Beijing, authorities have deployed this week over 2,600 people to drain dozens of pumping stations in advance and clear thousands of water drainage outlets along roads. Several bus routes plying the suburbs and mountainous areas were halted. Authorities in the neighbouring city of Tianjin also ramped up flood control efforts in the Hai basin, a major northern drainage system. By contrast, scant rainfall in Jiangxi province has resulted in Poyang Lake, the country's largest body of fresh water, ebbing to its lowest level for this time of the year since records began in 1951.

Up to 40 suspected crypto scammers are facing prosecution in China – with 10 already standing trial.

A high-flying regional Communist Party official who was expelled from the party last month for allegedly supporting crypto miners has been arrested. Meanwhile, individuals are being caught sending money abroad using crypto.

A top Chinese regional official has been expelled from the Chinese Communist Party – and may face heavy punishment for allegedly “supporting” crypto mining in exchange for bribes and sex.

The Central Committee of the Chinese Communist Party (CCP) expels a top provincial official after investigations suggest unlawful emgagement with crypto mining activities among other abuse of power.