The slump in U.S.-listed Chinese shares accelerated Tuesday, wrapping up another day of losses, as investors shunned the assets amid a broad-based crackdown by regulators in Beijing.In the span of …
Tagged By finance
Rise of Digital Yuan Brings New Challenges for China Tech Giants
Tencent and Ant Group spent a decade digitizing money and payment networks. Now the government wants a larger role.
Has China quit overseas coal financing?
China did not fund any overseas coal projects in the first half of 2021, the International Institute of Green Finance said. This marks a milestone in the greening of China’s Belt and Road Initiative, …
Bank of China joins BancNet
Bank of China has ramped up its digital payments transformation journey through a partnership with interbank network operator BancNet to broaden the network of its clients and lower costs amid the …
Why the U.S. and Europe trail China in central bank currency race
Western central banks trying to develop sovereign cryptocurrency models face pushback from lawmakers and other obstacles, while the digital yuan has a much clearer path.
Beijing crackdown spurs $2.6 billion Chinese equity outflow this week-IIF
China’s equity markets suffered outflows of $600 million on Tuesday after bleeding $2 billion on Monday, the Institute of International Finance (IIF) said. “These are very weak figures compared to the …
China’s renminbi needs convertibility to internationalize
Chinese currency as a full reserve currency will only happen when confidence in its convertibility is sufficient to convince unofficial (private) investors to hold much more reserves denominated in it …
Huobi Closing Beijing Entity Due to China Crackdown
Chinese crypto exchange Huobi has dissolved entity, Beijing Huobi Tianxia Network Technology Co., Ltd. on July 22, according to a notice posted on China’s national enterprise system.
Stocks pull back in early trading following drops in China
Stocks are opening lower on Wall Street Tuesday as investors turn cautious after U.S. markets hit their latest record highs. The S&P 500 fell 0.5% and the Dow Jones Industrials gave back 0.7%. The …
Factbox-From education to bitcoin, China’s season of regulatory crackdown
China’s months-long regulatory crackdown on a range of private companies has left tech upstarts and decades-old firms operating in a new, uncertain environment. Late last week, the State Council, or …
China avoids coal projects in Belt and Road for first time, says green finance think tank
China didn’t finance any coal projects via its Belt and Road Initiative in the first half, the first time that’s happened since the plan was launched in 2013, the International Institute of Green …
Even as Beijing’s grip tightens, Hong Kong maintains status as finance hub
China’s overhaul of Hong Kong’s political institutions has crushed the pro-democracy movement, and fueled warnings of an end to the city’s status as an international financial hub. Yet more than a …
Huobi Shuts Down Beijing Entity Amid Crypto Crackdown
Chinese crypto exchange Huobi is the latest crypto exchange to make changes to its corporate structure in China. Huobi dissolved an entity called Beijing Huobi Tianxia Network Technology Co., Ltd. on …
