Beijing is growing increasingly wary of risks stemming from rising commodity prices, inflation and international economic uncertainty following the coronavirus pandemic.
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China mines more bitcoin than anywhere else. The government wants that to stop
By Laura He, CNN Business China has extended its iron-fisted crackdown on using and trading bitcoin to the industry that oversees the mining of new cryptocurrency tokens.
Crypto miners halt China business after Beijing cracks down, bitcoin tumbles
A State Council committee led by Vice Premier Liu He announced the crackdown late on Friday as part of efforts to fend off financial risks. It was the first time the council has targeted virtual…
Quotable quotes from Tsinghua PBCSF Global Finance Forum
Themed on “New Pattern, New Development, New Finance”, the 2021 Tsinghua PBCSF Global Finance Forum was held in Beijing on May 22 and 23. Distinguished guests from the government, industry and …
Inside the race to avert disaster at China’s biggest ‘bad bank’, the Huarong Asset Management Co
Huarong Asset Management Co has been in full crisis mode ever since it delayed its 2020 earnings results, eroding investor confidence. Executives have come to expect to be summoned by government …
Central Bank Nerves, China Dodges Russia, Biden Battle: Eco Day
Welcome to Monday, Asia. Here’s the latest news and analysis from Bloomberg Economics to help you start the week.With the world barely through this crisis, central bankers are already wondering if a …
Inside the Race to Avert Disaster at China’s Biggest ‘Bad Bank’
Huarong Asset Management poses a crucial test of China’s financial system. It was past 9 p.m. on Financial Street in Beijing by the time the figure inside Huarong Tower there picked up an inkbrush and…
China’s central bank says it has no plans to ease exchange rate controls
Managed system is ‘an institutional arrangement fit for China at present and in the foreseeable future’, PBOC deputy governor says.
Digital yuan not designed to displace US dollar, says former head of China’s Central Bank
That’s according to the former head of the People’s Bank of China, Zhou Xiaochuan, who also said that the digital yuan should not be closely linked to the yuan’s internationalization, which depends …
Bubble Risks Test China’s Commitment to No Sharp Turn in Policy
The rapid gains are challenging the central bank’s ability to restrain inflation without hiking borrowing costs or making a sharp turn in monetary policy — something the People’s Bank of China has …
Yuan fluctuations in either direction to become norm – China central bank deputy governor
Fluctuations in either direction will become the norm for China’s currency, the deputy governor of the country’s central bank said on Sunday, with …
Digital Yuan Won’t Replace Dollar, Ex-Bank of China Chief Says
China has never aimed to challenge the U.S. dollar’s status as the international reserve currency with the development of a digital yuan, Xiaochuan Zhou, former governor of the People’s Bank of China, …
China’s crackdown on bitcoin mining, trading extend its losses
Bitcoin extended its losses after China vowed to crack down on the cryptocurrency’s mining and trading activities in an effort to prevent financial risks at a meeting chaired by Vice Premier Liu He on …
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