Distribution of China’s sovereign digital currency via 50,000 digital ‘red packets’ in Shenzhen is latest move in a series of trials across the country, but an official roll-out date has still not … ( read…
Monthly Archives For October 2020
Shenzhen to distribute 10 million yuan in digital currency to residents to boost consumption
VCG. Shenzhen in South China’s Guangdong Province will distribute 10 million yuan ($1.49 million) to its residents, in the form of digital currency, from F … ( read original story …)
Shenzhen to hand out 10 million digital yuan in currency giveaway
The major Chinese city of Shenzhen is launching a pilot program to promote the digital yuan with a public giveaway. In collaboration with the country’s central bank, Shenzhen is planning to … ( read original…
Renminbi jumps by most in more than 4 years as China returns to work
China’s currency jumped by the most in two and a half years while the country’s onshore stocks gained on positivity over the world’s second-biggest economy as traders returned from a lengthy holiday. ( read original…
China Becomes Largest Economy To Join WHO-Backed Global COVID-19 Vaccine Initiative
The COVID-19 vaccine initiative known as COVAX got a boost Friday (Beijing time) when the Chinese foreign ministry announced that the country had officially joined the facility, Reuters reported.What … ( read original story …)
Domestic travel over Golden Week boosts China’s economic recovery
Hundreds of millions of domestic tourists have boosted China’s economic recovery over its Golden Week national holiday, even as concerns linger over consumer spending. There were 637m trips in China … ( read original story…
Central banks sketch out digital currency as China forges ahead
A group of seven major central banks including the U.S. Federal Reserve set out on Friday how a digital currency could look like to help catch up with China’s “trail blazing” and leapfrog private ……
China’s recovery isn’t as rosy as it appears — but there’s still ‘room for optimism’
Beijing wants to advertise the Beijing, Shanghai, Guangdong type of recovery, but that’s not most of China,” China Beige Book’s Leland Miller says. ( read original story …)
China Inc set for biggest US IPO year since 2014 amid spat
citing Beijing’s refusal to allow inspections of the firms’ audits. For some, the threat of future delisting didn’t put them off. Online property platform KE Holdings in July raised US$2.4 billion in … ( read…
China Tourism Rebounds Over Golden Week but Still Below Last Year
Domestic tourism in China saw a robust rebound over the just-ended Golden Week holiday, encouraged by the country’s success in stamping out the novel coronavirus, although levels were still well short … ( read original…
BUZZ-COMMENT-China’s central bank surprisingly unleashes the yuan
China’s onshore yuan roared to a near 18-month peak against the dollar early Friday as mainland financial markets reopened after a week-long break. The catalyst was the central bank indicating … ( read original story…
Bonds Signal China Has Dodged Its Minsky Moment
That debt has somehow managed to stay in the complicated tubes and pipes of China’s financial system, and a Minsky Moment has been avoided — three years after the outgoing head of the People’s Bank…
China’s Growth Story Isn’t What It Seems: Diana Choyleva
The tailwinds that powered the nation’s economic rise are turning into headwinds, and Xi Jinping risks undermining the key drivers of success. ( read original story …)
