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China Opens Digital Yuan Park in Shenzhen
14.10.2023
Shenzhen has become home to an industrial park established to promote China’s central bank digital currency (CBDC). Several financial companies are already settling there, the Chinese megacity announced while unveiling almost a dozen initiatives to boost the digital yuan use in the region. Shenzhen...
More than 2.6 million users signed up for the City of Shenzhen's digital yuan airdrop
14.7.2022
The city has about 18 million residents in its prefecture-level area
City of Shenzhen airdrops 30M in free digital Yuan to stimulate consumer spending
30.5.2022
The move comes as part of a government effort-led to revitalize consumer spending as a zero-COVID policy has devastated the countries' economic hubs
Chinese Kids Have Their Online Gaming Time Slashed By New Government Rules
31.8.2021
A new rule being introduced by the The National Press and Publication Administration (NPPA), China’s online watchdog, is looking to curb what the government feels is a growing “gaming addiction among young people”.Read more
People’s Bank of China Targets Crypto Companies in Shenzhen Crackdown
18.8.2021
The Shenzhen office of the People’s Bank of China (PBOC) has reportedly set out to correct the business activities of about a dozen companies allegedly engaged in cryptocurrency transactions. According to Chinese media, the entities have been targeted in a crackdown on crypto trading in...
China Offers Medics Digital Yuan Insurance Policy for Covid-19
21.7.2021
China’s first insurance policy using the digital yuan for settlement has been issued in Shenzhen, local media reported. The new product, targeting medical personnel exposed to coronavirus risks, is offered by the country’s largest insurer, Ping An. The financial giant also has fintech...
Beijing and Suzhou Railways Now Accept Digital Yuan Payments for Ride Fares
1.7.2021
Beijing subway has officially launched a new program that allows passengers to pay for rides with the central bank digital currency (CBDC) also known as the digital yuan. The news follows the subway system in East China’s Jiangsu province in the city of Suzhou which also allows digital yuan...
Shanghai to Hand Out $3 Million in Digital Yuan Lottery
6.6.2021
As part of government efforts to get the digital yuan going, authorities in Shanghai will distribute $3 million worth of the central bank-issued currency among residents of Shanghai. The digital money will be dispersed through a lottery, a method that has already been implemented elsewhere...
Beijing to Disperse $6 Million in Digital Yuan in a Red Envelope Lottery
3.6.2021
China’s central bank digital currency (CBDC) continues to gain further ground as the Beijing Local Financial Supervision and Administration Bureau revealed 40 million worth of the country’s digital yuan ($6.3 million) will be distributed to Chinese citizens. Beijing and China’s...
Digital Yuan Trial Hotspot Not Seeing Wide Acceptance, Claims Report
11.5.2021
With digital yuan pilots underway in China, it seems the currency is not meeting government expectations. A recent report highlighted a series of interviews from people in the hotspot, reflecting a lackluster reception among the participants. Privacy Concerns Reported According to Bloomberg...
Tencent Buys Stake In Life Is Strange's Creators
27.1.2021
Tencent continued its massive expansion in the gaming world today after acquiring a minority stake in French developer Dontnod, maker of Life is Strange, Vampyr, and Tell Me Why.Read more
State-Backed Agricultural Bank of China Launches the First Digital Yuan ATMs
12.1.2021
The Agricultural Bank of China (ABC), one of China’s “big four” banks, is embarking on a pilot program to enable the first digital yuan ATMs. The banking institution deployed the first machines in selected branches in Shenzhen. ATMs Will Work With a Smartphone App According to...
Shenzhen to Double Digital Yuan Giveaway in China’s Latest Lottery Test
4.1.2021
The latest digital currency giveaway is aimed to gauge user experience ahead of an expected launch
Shenzhen Stock Exchange Launches Index of Top 50 Blockchain Public Companies
27.12.2019
The Shenzhen Stock Exchange has launched a blockchain index comprising 50 of the largest publicly listed companies with blockchain ventures by market capitalization. Blockchain-related stocks in China have been gaining value since President Xi Jinping openly advocated for the technology. Also read:...
Chinese Regulators Question 8 Crypto Companies in Shenzhen
20.12.2019
Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with...
China’s Inflation Hits a Record 4.5% as Beijing Prepares to Test Digital Yuan
12.12.2019
China has been confronted with multiple economic and financial problems this year amidst an ongoing trade war with the United States. Authorities in Beijing have been trying to overcome the challenges with administrative measures in what has become a market economy over the years. Inflation of...