China’s State Administration for Market Regulation released Sunday new anti-monopoly guidelines that target internet platforms. ( read original story …)
FINANCE
Clubhouse tempts censorship in China as users flock to social network’s audio chat rooms to debate Hong Kong, Xinjiang
The audio-chat social app has quickly gained popularity among mainland Chinese users as it gives them a rare space to freely discuss sensitive political topics. ( read original story …)
Beijing to issue 10 million yuan online ‘red packets’ in a broader digital currency trial
Residents who received “red packets” of digital RMB use the money in stores in Shenzhen, South China’s Guangdong Province. The city launched a pilot program to distribute 10m yuan ($1.49m) in the form … (…
China antitrust: ByteDance-Tencent dispute highlights data ownership grey area
The question of user data ownership is at the heart of a legal battle between TikTok owner ByteDance and WeChat owner Tencent. ( read original story …)
China’s central bank conducts 50b yuan of reverse repos
BEIJING – China’s central bank on Sunday conducted 50 billion yuan ($7.73 billion) of reverse repos to keep liquidity stable in the banking system ahead of the Spring Festival holiday. The interest … ( read…
Covid-19, funding concerns hit China’s belt and road projects
London think tank tracks last year’s progress of flagship Chinese investment plan, finds about 15 ran into trouble. ( read original story …)
China’s central bank conducts 50 bln yuan of reverse repos
China’s central bank on Sunday conducted 50 billion yuan (about 7.73 billion U.S. dollars) of reverse repos to keep liquidity stable in the banking system ahead of the Spring Festival holiday. The … ( read…
Rubin: GOP conspiracy theorists threaten Biden’s China policy
The big question is whether the U.S. can reclaim its credibility as a global leader. The stakes are immensely high. ( read original story …)
US ally and China partner: how South Korea navigates between two powers
For [South] Korea and most small and medium countries, we need two pillars in order to keep standing up. These two pillars are China and America. So China and the US have the responsibility to…
China sees more investors in bank wealth management products
The number of investors holding wealth management products in the banking market hit 41.62 million in China at the end of 2020, up 86.85 percent from the previous year, among which individual … ( read…
Why are China’s small rural banks important, and what problems do they face?
The central government’s message to China’s 1,641 rural banks is clear: they must continue to support the financial needs of counties and agricultural areas, while also managing financial risk more … ( read original story…
China’s Luckin Coffee Files For Bankruptcy In US
Chinese cafe chain Luckin Coffee on Friday announced it had filed for bankruptcy protection in the United States, months after it had been booted from Wall Street indices over a fraud scandal. The … (…
Who owns Luckin Coffee? China-based Starbucks rival caught in fake sales scandal now files for bankruptcy
In 2020, after the coronavirus hit the economy, Luckin Coffee revealed that it inflated its 2019 sales revenue by up to $310 million … ( read original story …)
