China’s CBDC app has achieved 180 million personal wallets and ¥7.3 trillion in transactions- a major milestone in digital currency adoption.
Monthly Archives For October 2024
China kicks off 500 billion yuan swap facility to aid stock market
China’s central bank said on Thursday it would start accepting applications from financial institutions to join a newly created funding scheme, initially worth 500 billion yuan ($70.62 billion), to aid the capital market.
China investors hope for a $283M stimulus from the capital over the weekend
Strategists, economists, and fund managers project new fiscal stimulus over the next six months if China’s Finance Minister Lan Fo’an fails to address the expected $283B stimulus in the anticipated …
Apple Opens Its Largest Research Lab Outside the US in China
Apple has opened a new applied research lab in China. The lab spans 215,000 square feet and is expected to employ over 1,000 local and international talents. The focus of the lab will be on…
China says Foxconn employees probed for bribery, embezzlement
China’s government said on Friday that employees of Taiwan’s Foxconn , the world’s largest iPhone assembler, are being investigated for suspected taking of bribes and embezzlement, after Taiwan reported their detention.
Trump’s ‘God Bless the USA’ Bibles printed in China, records show
Thousands of copies of former President Trump’s “God Bless the USA” Bible were printed in China, according to trade records.
‘Cutting leeks’: Beijing sparks a retail stock trading frenzy
But the wild market swings also underscore the risks of a headlong dash back into China’s volatile equities, with some using the phrase ge jiucai, meaning “cutting leeks” — a reference to investment …
Iron ore price recovers but posts weekly loss as Beijing stimulus uncertainty weighs
The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.15% higher at 789.0 yuan ($111.55) a metric ton. The contract lost 2.18% for the week, …
Beijing likely to announce more stimulus this month: Nomura
Banking group Nomura says it “firmly expects” the Chinese authorities to present a “fiscal stimulus package,” as the nation’s Ministry of Finance will hold a briefing on fiscal policy on October 12.
Global Markets Pause Ahead of Beijing’s Fiscal Announcements
Global stocks were stable on Friday as investors awaited fiscal stimulus updates from Beijing expected over the weekend. Wall Street showed slight declines, while European markets remained steady.
China may announce fiscal stimulus of up to 2 trillion yuan this weekend: Deutsche Bank
China’s Ministry of Finance is expected to hold a briefing on Saturday in which market participants foresee a package worth between 1.5 trillion to 2 trillion yuan unveiled. “It will
Indonesia asks Apple, Google to block China’s Temu to protect small merchants
Indonesia has asked Alphabet’s Google and Apple to block Chinese fast fashion e-commerce firm Temu in their application stores in the country so it cannot be downloaded, a minister said on Friday.
Shanghai, Shenzhen indices fall ahead of Chinese finance minister’s press briefing
Investors are looking ahead to a media conference by China’s finance minister on Oct 12, amid speculation the government may roll out a massive spending plan to add to a raft of measures unveiled last…
