China has leapfrogged much of the developed world in its establishment of digital yuan. Central bank digital currencies are a growing source of interest around the world as cryptocurrencies flourish.
Tagged By banking
Will China’s new digital yuan threaten King Dollar’s reign?
“Most cross-border payments either for trade or finance are already digital, so it’s hard to imagine a digital yuan having a huge impact on international payments,” he said. A more important …
IMF urges China to reduce corporate debt risk made worse by heavy pandemic lending
China leaves key interest rate unchanged for 11th straight month as it moves to cautiously scale back economic stimulus So far the approach has been moderate. Two weeks ago, the People’s Bank of China …
For the second time, China has ‘fared well’ in a major crisis: IMF
So for the second time now with a major crisis, China has fared very well,” Adrian said, drawing a comparison with the global financial crisis of 2008. At the time, China deployed vast amounts of…
China asks major lenders to curtail credit growth this year
Earlier in the month, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, warned about bubbles in the property and financial markets, fueling concerns policy makers will …
China highlights success in fighting poverty and says world can benefit from the lessons it offers
Beijing says it can share its knowledge with other countries and adds they can also benefit from its Belt and Road Initiative.
CBDCs: People’s Bank of China and the Hong Kong Monetary Authority Testing Digital Yuan
The People’s Bank of China (PBoC) and the Hong Kong Monetary Authority (HKMA) have begun testing its central bank digital currency (CBDC) or digital yuan for cross-border transfers, according to a …
Bombay High Court allows China’s ByteDance to operate Indian bank accounts
MUMBAI: The Bombay High Court on Tuesday permitted Chinese company ByteDance to operate its Indian bank accounts, that had been frozen by the Goods and Services Tax (GST) authorities over alleged tax …
IFAD: China needs to ensure its poverty eradication sustainable
“Has China eradicated poverty?” is thus, in my opinion, not the appropriate question. The right question – and most relevant today – is:”Are China’s extraordinary achievements sustainable?” Second, …
MOYI Collaborates with China Construction Bank New York Branch for Research Effort Focused on New Technologies for Improved Banking Services
The China Construction Bank New York Branch has been specializing in comprehensive wholesale corporate banking services, including trade finance, treasury products, time & demand deposits and USD …
Beijing’s Lize Financial Business District development roadmap released
The draft for the “Comprehensive Implementation Plan for the Planning of Lize Financial Business District (2020-2030)” was recently announced, which when finalized will serve as a roadmap for the …
New Chinese Banking Rules
Clearly, this is not likely the impact Beijing intended. Washington Insider: New Chinese Banking Rules The New York Times reported last weekend that China has been putting “limits on foreign banks, …
Mega industrial projects settle in Beijing’s Daxing district
Beijing’s Daxing district recently signed contracts on 10 cutting … development of cutting-edge industries by applying sci-tech achievement, boosting emerging finance, attracting high-level talents, …
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