The world’s biggest financial institutions and central banks are getting serious about a monetary system leveraging cryptocurrencies and the blockchain. ( read original story …)
Tagged By banking
China considers establishing Beijing Financial Court
China is looking into establishing the Beijing Financial Court in a bid to improve the country’s judicial system for finance-related cases and ensure a sound law environment for relevant sectors. A … ( read original…
China jobs market still seen as weak, unstable even as unemployment rate returns to pre-coronavirus level
China’s official surveyed unemployment rate came in at 5.2 per cent in December, the same as in 2019, and a far cry from February’s reading of 6.2 per cent. ( read original story …)
China Has New Rules for Screening Foreign Investments. Here Are the Details.
The new law brings Beijing closer in line with practices in developed countries but comes amid friction between China and some of its biggest trading partners. ( read original story …)
China Plans Online Payment Rules That May Hit Ant, Tencent
China proposed measures to curb market concentration in its online payment market, potentially dealing another blow to financial technology giant Ant Group Co. and its biggest rival Tencent Holdings … ( read original story …)
China plans tougher antitrust rules for non-bank payments industry
China’s central bank has proposed stepping up antitrust measures for companies in the non-bank payments industry, such as Ant Group’s Alipay and Tencent’s WeChat Pay. Under draft rules proposed on … ( read original story…
China proposes tougher anti-trust rules for non-bank payment industry
China’s central bank proposed stepping up anti-trust measures to rein in payment firms such as Ant Group’s Alipay and Tencent’s WeChat Pay, which dominate the non-bank payment industry. ( read original story …)
Kenya to save 27 billion shilling from China debt service suspension deal
Kenya has secured a debt repayment moratorium from China which will save it 27 billion shillings ($245.23 million) in the period to June, its finance minister said on Wednesday. ( read original story …)
Court specializing in finance proposed to be established in Beijing
A recent draft decision is recommending that a court specializing in hearing finance-related lawsuits be set up in Beijing. The draft decision on building the Beijing Financial Court was submitted to … ( read original…
China drafts rules for non-bank payment industry to rein in monopolistic behaviour
China’s central bank released drafted rules on non-bank payment institutions on Wednesday, stepping up anti-trust measures to rein in monopolistic behaviors of payment firms. BEIJING, Jan 20 (Reuters) … ( read original story …)
China’s Wide Income Gap Undercut Spending as Growth Recovers
China’s successful control of Covid-19 made it the only major economy to have grown last year, but wide income inequality and still weak consumer spending reflects an unbalanced recovery. ( read original story …)
Beijing steps up COVID-19 response amid most severe outbreak since March
The measures come amid what has become the country’s most severe COVID-19 outbreak since March 2020. It is also ahead of the key Chinese Lunar New Year holiday season in February, when hundreds of ……
UPDATE 1-China’s short-term money rates surge despite huge PBOC cash injection
China’s primary short-term money rates surged on Wednesday to the highest level since the early days of the coronavirus pandemic a year ago, driven by rising seasonal cash demand, despite the central … ( read…
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