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Nalezeno "Bank Of China": 173

Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’

22.11.2022
During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also...

Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China

7.11.2022
The Chinese government has shown a keen interest in developing a metaverse economy, but its stance on NFTs hasn’t been very clear

Chinese Central Bank Governor: User Privacy and Financial Security Key Principles Guiding CBDC Design Process

2.11.2022
According to Yi Gang, governor of China’s central bank, the process of designing the country’s digital currency is premised on two principles, the protection of user privacy as well as ensuring “financial security.” To achieve this, the central bank’s role will...

Chinese central bank exec says digital yuan will offer ‘controllable anonymity’

1.11.2022
China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume

Bank of China: Digital yuan transactions volume crossed $14B mark

13.10.2022
The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong

Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD

29.9.2022
Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan...

China accounts for 84% of all blockchain patent applications, but there's a catch

23.9.2022
China’s push for blockchain technology gained steam after 2019 when President Xi Jinping called for corporations from tech giants to become industry leaders in the nascent tech

Chinese Currency Breaches 7:1 Exchange Rate Against US Dollar for First Time in Two Years

21.9.2022
The offshore exchange rate of China’s fiat currency versus the U.S. dollar recently breached the 7:1 mark for the first time in over two years, after it touched a new 2022 low of 7.0188 yuan for every dollar on September 15. Similar to other global currencies that have depreciated in 2022...

Cryptocurrency Is Virtual Property That Is Protected by Law, Chinese Court Rules

17.9.2022
A Chinese intermediate court based in Beijing recently upheld a lower court’s ruling which determined that cryptocurrency is a virtual property protected by the law. The court clarified that regulations issued by the Bank of China and others only prohibit the circulation of virtual currency....

Possession of Bitcoin still legal in China despite the ban, lawyer says

16.9.2022
Crypto holders in China are protected by the law in case of theft, misappropriation or breach of a loan agreement despite the ban on crypto

Major Chinese City’s Metro Begins Accepting Digital Yuan Payments

24.8.2022
The city of Ningbo, in China’s Northeast Zhejiang Province, has announced that all 125 of its metro stations now accept digital yuan payment – as the Chinese central bank digital currency (CBDC) continues its adoption drive.... Read More: Major Chinese City’s Metro Begins Accepting Digital Yuan...

Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons

18.8.2022
A Chinese state-owned commercial bank is set to pilot a digital yuan-powered “smart contract solution” that allows elementary school parents to pay for their children’s education using the e-CNY.... Read More: Chinese Parents to Use Digital CNY ‘Smart Contracts’ to Pay for After-school Lessons

China Bank Account Freeze Controversy: Authorities Reveal Latest Reimbursement Plan, Three Officials Now Under Investigation

31.7.2022
In a move seen as an attempt to pacify protesting bank clients, Chinese authorities in Henan province announced their latest repayment plan which sees customers with deposits ranging between $14,827 and $22,240 qualify for reimbursement. In addition, authorities said two unnamed officials from...

Official explains why China CBDC should not be as anonymous as cash

26.7.2022
While cash is associated with more anonymity, it’s still less mobile and easy to use in large amounts than a digital currency, China’s CBDC project lead Mu Changchun said

Social Media Users Deride China’s Reported Use of Military Tanks to Intimidate Protesting Bank Customers

23.7.2022
Social media users have slammed China’s reported use of military tanks to intimidate bank customers protesting against the freezing of their savings. Some users claimed the deployment of military tanks exposes the country’s underlying economic problems. Crypto proponents see the issue...