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Nalezeno "Chinese": 1491

A SWIFT Shakeup: Yuan Dethrones Euro as Runner-Up in Trade Finance Markets

20.10.2023
The latest report published by the Society for Worldwide Interbank Financial Telecommunications (SWIFT) has revealed that the Chinese yuan overtook the euro as the second most used currency in trade finance markets. However, the dollar is still comfortably in first place, with more than an...

Chinese Bank Rolls Out Digital Yuan Supply Chain Financing Solution

17.10.2023
More Chinese banks want to use digital yuan-powered smart contracts in their operations, and hope to use the CBDC in the financing of supply chains. Per Xinhua (via the People’s Daily), the Agricultural Bank of China will work on a solution with Luzhou Laojiao. The latter is a traditional alcohol...

Evergrande’s Economic Tremors Trigger Bank Run in Northern China

17.10.2023
Several reports say that the major Chinese real estate developer Evergrande’s downfall triggered a bank run in northern China last week. The bank run began after rumors spread that the financial institution, Bank of Cangzhou, allegedly loaned billions to the struggling company. This...

US Mulls Tighter Restrictions on AI Chip Shipments to Chinese Firms, Report

14.10.2023
The government in Washington is reportedly considering further limiting China’s access to U.S. processors used in artificial intelligence (AI) applications. The current restrictions, which were introduced last year, allow Chinese companies to source the chips through overseas subsidiaries....

Chinese Bitcoin Mines in the US Attract National Security Attention

14.10.2023
Bitcoin mining operations in the United States, owned by Chinese entities, are currently under investigation for potential issues that could threaten national security, according to the New York Times (NYT).  The scrutiny began last year when a Chinese company began constructing a cryptocurrency...

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...

Landmark Ruling: Chinese Court Rejects Crypto Lending Again

13.10.2023
Crypto lending activity still falls outside the purview of China’s legal system, ruled a Chinese court in the second ruling of the nation’s kind on Tuesday. Per a press release from the Nanchang People’s Court, lending out virtual currency and requesting a return “is not within the scope of civil...

Chinese IT Giant Tencent Launches Digital Yuan Smart Contract Services

13.10.2023
The Chinese tech titan Tencent, the WeChat operator, will launch a digital yuan smart contract offering for small and medium-sized enterprises (SMEs). The move comes weeks after the firm announced it would join a central bank-led e-CNY and global CBDC interoperability pilot. Per the Securities...

Rise in Chinese Banks Issuing Digital Yuan Corporate Loans

11.10.2023
More Chinese banks are issuing loans in the digital yuan, the nation’s central bank digital currency (CBDC), as e-CNY corporate financing options diversify. Per Nanhai Net (via Hainan News), the latest development has taken place on the island province of Hainan, in the city of Sanya.... Read...

Digital Yuan Giveaways Driving Adoption, Chinese Central Bank Claims

9.10.2023
The Chinese central bank has claimed that its program of digital yuan giveaways is helping to drive up CBDC adoption. According to the state-run newspaper the People’s Daily, the Digital Currency Research Institute, the central People’s Bank of China (PBoC)’s dedicated digital yuan arm,...

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