To get a sense of how pervasive mobile payments have become in China, consider that on the eve of this year’s Spring Festival, 668 million people on Tencent Holding’s WeChat app sent virtual hongbao –…
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China: Mobile payment transactions reach USD 12.8 trln in ten months
Mobile payment transactions in China have reached USD 12.8 trillion from January to October 2017, driven by the convenient cashless systems. According to the latest official figures from the Ministry of Industry and Information Technology,…
Russia’s central bank gold hoard is now bigger than China’s
Russia has overtaken China as the fifth-biggest sovereign holder of gold, allowing it to diversify its foreign currency holdings amid a deepening rift with the U.S. The Bank of Russia in January increased its holdings…
Recent Surge In Chinese Bank Credit Reflects Necessary Crackdown On Shadow Banking
In addition, large-scale, sustainable growth does not appear to be on the horizon as China continues to struggle with high levels of debt and insufficient reform. Shadow banking has retrenched somewhat due to increased regulatory…
China is pumping cash into Pakistan, but that might not convince other foreign investors
“The people of Pakistan believe that China came to Pakistan’s help when no-one was willing to invest in Pakistan due to security considerations, or due to the negative ratings on Pakistan,” he told Chinese state-run…
China tries to bring order to sprawling online finance sector
SHANGHAI — China’s 1.2 trillion yuan ($189 billion) internet finance industry has reached a turning point as regulators tighten regulations after one too many cases of bankruptcy and fraud. Some analysts are predicting a shakeout…
Australian Prime Minister Turnbull is heading to the US to talk business, China, and North Korea with Trump
Prime Minister Malcolm Turnbull heads to the United States on Wednesday, accompanied by the largest Australian political and business delegation ever to visit the US. Turnbull, a wealthy 63-year-old former Goldman Sachs partner, sees himself…
China cracks down on ‘funeral strippers’ as families are told not to hire erotic dancers to draw mourners
Such titillating show are usually performed by grassroots dancing troupes, which make money solely by performing at funerals, weddings and temple fairs, according to a report by China’s Xinhua News Agency in 2015. The price…
China cracks down on funeral strippers hired to entertain mourners, attract larger crowds
This is also not the first time China has tried to stamp out the practice … in 2015 describing the hiring of strippers at funerals as “uncivilised”, Xinhua news agency reported at the time. The…
Dubai moves on China to boost property market
Dubai is hoping for more Chinese investment to help boost its struggling property market. The city’s ramping up its sales efforts around the world and has China firmly in its sights, as Nawied Jabarkhyl reports.…
China Mobile : 4G net adds slow to 5.24m in January
4G customers in January, slower than the pace of 15.61 million in the previous month, bringing the total 4G customer size to 654.7 million. The accumulated net addition of customers for January was 3.843 million,…
China’s MIGU Video acquires 2,200 hours of BBC content
Telco China Mobile is making a wide array of BBC programming available to around 856 million of its MIGU video viewers, following a deal announced at BBC Worldwide Showcase. The deal, which spans more than…
China tops world in growth of mobile phone shipments
China topped the world in terms of growth of mobile phone shipments, despite the first shrink of the domestic market in nine years that happened in the fourth quarter of 2017, said a report recently…
