Halfway through what’s supposed to be the final year of a transition to sweeping new rules covering asset management in China, the bank-based sector of the $3.9 trillion industry is deeply mired in a …
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Hong Kong’s Lam says China has helped restore ‘stability’
The chief executive of Hong Kong on Sunday said China has helped restore “stability” in the city. Reuters reported that Chief Executive Carrie Lam said Hong Kong’s strategy to improve its standing as …
What is the G7’s global minimum tax, and how could it affect China?
The global minimum tax rate proposed by the Group of 7 (G7) aims to clamp down on tax evasion and prevent countries from competing by offering lower taxes to attract multinationals.
Hong Kong seeking closer integration with mainland China, Lam says
Hong Kong’s strategy to strengthen the city’s global financial hub status is through greater integration with mainland China, now that Beijing has helped restore “stability” in the city, Chief …
China assigns more funds to enhance comprehensive finance this year
China’s Ministry of Finance (MOF) declared in a report that the country has assigned a special fund of 9.22 billion yuan (USD1.43 billion) to boost …
How will the Bank of England react to the return of inflation?
UK inflation has climbed above the Bank of England’s 2 per cent target for the first time in nearly two years following a bigger-than-expected jump last month. Investors are wondering if policymakers …
After 2008 Financial Crisis, COVID-19 One More Milestone in Long Decline of West and China’s Rise
This marks the first significant milestone in Chairman Xi’s “China Dream”, a project that will ostensibly culminate in 2049, the 100th anniversary of the founding of the People’s Republic, with …
The largest bank in China allows you to convert digital yuan into cash at more than 3,000 ATMs
GMT The Agricultural Bank of China – one of China’s “Big Four” banks – also introduced the feature at 10 ATMs in Beijing. The …
China’s Sichuan latest ground of cryptomining crackdown: report
China’s crackdown on cryptocurrency “mining” has extended to the southwestern province of Sichuan, after a bunch of provincial-level regions carrying out measures to regulate mining activities, …
Beijing Amplification of the Crypto Crackdown Hit China Bitcoin Mining Business!
The China Bitcoin mining business is going through several changes. Learn more about the mining and the crypto crackdown.
China allocates more funds to boost inclusive finance in 2021
China has allocated a special fund of 9.22 billion yuan (1.43 billion U.S. dollars) to develop inclusive finance for 2021, up 31.2 percent from the level in 2020, the Ministry of Finance (MOF) …
Chinese digital yuan now available at over 3,000 ATMs in Beijing
The Industrial and Commerce Bank of China (ICBC) has enabled a feature allowing users to convert their digital yuan to cash at over 3,000 automated teller machine (ATM) locations in Beijing, Xinhua …
Supported by WWF China, China Banking Association Establishes Expert Climate Working Group
On June 11, the China Banking Association, under the guidance of the China Banking and Insurance Regulatory Commission, launched a new expert working group to support the country’s plans to peak …
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