The southern Chinese metropolis of Shenzhen, the country’s first pilot city for its digital fiat currency, had opened 35.94 million e-CNY wallets by the end of June, 7.6 million more than the number …
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China’s Shenzhen sets up over 35 mln e-CNY wallets
Shenzhen, China: 36m Digital Yuan Wallets Opened So Far – CBDC Pilot Gathers Pace
The Chinese city of Shenzhen says its residents have opened almost 36 million digital yuan wallets, as the country’s CBDC pilot breaks new ground.
China’s risk of deflation is ‘serious’ — one economist says it’s ‘time to act’
China producer prices suggest deflationary price pressures seen in upstream sectors, Grow Investment Group’s chief economist Hong Hao said. Nominal GDP growth is lower than real GDP growth in Q2, …
China vows to ‘restore and expand’ consumption to boost growth
The announcements follow economic data on Monday that showed China’s second quarter growth underwhelmed market expectations.
Exclusive-China’s CITIC to move dozens of Hong Kong bankers to mainland to cut costs -sources
China’s CITIC Securities plans to move dozens of bankers from its offshore platform CLSA in Hong Kong to the mainland to cut costs and meet Beijing’s call to bridge income inequality in the financial …
(China Economic Roundtable) Chinese Economy Sees Hard-Won Recovery in H1 amid Global Downturn
China’s economic performance in the first half (H1) of 2023 showed signs of recovery in the face of various challenges, guest speakers told the China …
Beijing Launches Policies to Boost Consumption—But Not Major Stimulus
Chinese authorities released a set of policies to bolster domestic consumption—but the moves fell short of major stimulus, underscoring Beijing’s limited options to jump-start sputtering economic growth.
Where is Qin Gang? China’s foreign minister has not been seen in public for three weeks
The absence of China’s foreign minister has been commented on online, where some discussion appears to have been censored
China to Name Unicom CEO Liu as Head of New Data Bureau-Sources
HONG KONG (Reuters) – China plans to appoint the CEO of state-owned telecoms giant China Unicom, Liu Liehong, as the head of its new national data bureau, four sources said, putting him in charge of…
China’s NDRC vows to roll out consumption support policies without delay
China’s top economic planner pledged on Tuesday that it would roll out policies to “restore and expand” consumption without delay as consumers’ purchasing power remained weak, suggesting an urgency to revive domestic demand.
Asian markets drop as China growth worries offset Fed rate hopes
Most Asian markets sank Tuesday as further weakness in China’s economy fuelled worries about the effects on global growth, overshadowing optimism that the United States is winning its battle against inflation and could avoid a…
Marketmind: China worries keep investors jittery
A look at the day ahead in European and global markets from Ankur Banerjee Markets are still reeling from China’s raft of unimpressive data and with the economic calendar now light, worries over a stuttering…
US falling behind China in tech advancements, Govini report finds
The difference in the pace of technological advancement between the U.S. and China is largely due to accessibility to patents, according to Govini.
