Digital Currency

China Digital Currency News - Caixin Global

China is taking the lead in the race to become the first major economy to officially launch a sovereign digital currency, as its ongoing pilot programs have made headlines and its central bank officials have been offering explanations about the issue and what’s behind Beijing’s digital yuan ambitions.

In Depth: China’s Digital Currency Ambitions Lead the World

The future of money is electronic and Beijing wants to own it

05 27, 2023 10:30 AM

Weekend Long Read: Five Tasks for China’s Next Stage of Opening-Up

The country’s strategy has evolved from setting up special zones in coastal areas to a more advanced level that focuses on its domestic circulation and expanding institutional opening-up

05 26, 2023 11:08 AM

Weekly Must-Read: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

Local governments’ invisible debt could be as high as almost $10 trillion, double Japan’s GDP, posing a risk of destabilizing the banking and financial sector

05 25, 2023 11:40 AM

Caixin Biz Roundup: China Bans U.S. Chipmaker Micron

Alibaba kicks off overhaul with spinoff and IPO targets, and Hong Kong rolls out digital currency trial

05 23, 2023 09:03 AM

CX Daily: China’s Effort to Move Mountain of ‘Hidden Debt’ Faces Uphill Climb

China strongly opposes the G-7 communique. The country upgrades a cross-border funds pilot program for multinationals

05 20, 2023 02:58 AM

Hong Kong Begins Trial of Digital Currency

HSBC, Bank of China, Alipay and Visa are among 16 enterprises in a pilot program for the e-HKD, Hong Kong Monetary Authority says

05 05, 2023 13:55 PM

Weekly Must-Read: Top Chinese Digital Banks Report More Bad Loans but Higher Earnings

Ant-backed MYbank and Tencent-backed WeBank disclose higher nonperforming loan ratios amid the pandemic yet liquidity metrics remain healthy

04 27, 2023 09:28 AM

CX Daily: Tencent, ByteDance Gut Metaverse Units in Virtual Reality Check

Xi affirms China’s commitment to restoring peace in Ukraine in a phone call with Zelenskyy. British Airways resumes service to China

04 26, 2023 19:58 PM

Chinese City to Pay Civil Servants in Digital Yuan

Changshu, in eastern China, will begin paying its civil servants and employees of state-owned enterprises in e-CNY from May

04 21, 2023 20:53 PM

In Depth: China Makes Further Inroads in Popularizing the Yuan

Countries including Russia and Brazil join Beijing’s drive to boost currency’s use in cross-border trade and investment

04 12, 2023 17:06 PM

Hong Kong’s ZA Bank Offers Crypto Conversions Amid City’s Push Into the Industry

The CEO of city’s biggest virtual lender says the bank will offer token-to-fiat currency conversions over licensed exchanges

04 01, 2023 18:00 PM

Cover Story: IMF Chief Georgieva on How to Operate in World of Uncertainty

The fund’s managing director explains why central banks need to be nimble, regulators ought to be decisive, and China should hold fast to its green goals

03 22, 2023 20:19 PM

Xi, Putin Call for ‘Responsible Dialogue’ to End Ukraine Crisis

Russia also said a position paper on the crisis issued by China last month could ‘be taken as the basis’ to settle the conflict that began more than a year ago

03 03, 2023 13:30 PM

Weekly Must-Read: Why China’s Lithium Firms Have Their Sights Set on Bolivia

The South American country has the world’s largest reserves of the key EV battery raw material, but political and practical obstacles have prevented it from becoming a significant global supplier

02 08, 2023 20:33 PM

NFTs, Metaverse Get Digital Cold Shoulder in Beijing

The city’s market regulator has warned local residents to steer clear of investments using two of the latest tech buzzwords   

02 04, 2023 03:35 AM

China Clashes With IMF Over Property Downturn, Growth Rate

International Monetary Fund says China needs to do more to resolve the real estate crisis and spur growth, earning a sharp rebuke from Beijing

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