In case PBOC (People’s Bank of China) decides to tighten the restrictions of financial services that are operating with industry, major Chinese bitcoin exchanges will be ready to move their operations.
The ¥500 billion funding scheme will allow financial institutions, including brokers, mutual funds, and insurers, to use their existing stock holdings as collateral to access liquidity.
HSBC Bank announced that corporate clients can now link their bank accounts directly with digital yuan accounts.
China has rolled out its digital RMB interconnection platform with Standard Chartered Bank that is expected to use it in streamlining cross-border payments and other services.
The transaction is part of SHPGX’s efforts to provide a solid response to the Shanghai municipal government’s requirements to use the digital yuan in cross-border trade.
The director of Digital Currency Research Institute of the People’s Bank of China said that online platforms have the responsibility to adhere to the regulatory requirements.
China’s efforts to support and revive its property sector took a notable turn recently with a series of monetary policy adjustments to provide relief to the struggling real estate market.
China keeping the fiver-year loan rates unchanged has put breaks on the five weeks rally in the US Dollar. Investors now wait for the Federal Reserve’s Jackson Hole symposium for any further guidance.
Market observers had also anticipated an adjustment in the five-year loan prime rate, influencing the country’s mortgage landscape.
For now, the e-CNY app has a limit of 500 yuan ($77) per transaction and 10,000 yuan ($1,540) per day for offline payments.
According to Chinese prosecutors, NFT creators hide in plain view through the use of airdrops, blind boxes, limited sales, and synthesis.
China’s economic outlook also affected the stocks of some of the top companies in the country.
The value of Chinese coins, including NEO and FLM, surged over 20% on the PBoC’s market liquidity inducement.
The government in China is planning a specialized blockchain research center in Beijing to aid the country’s digitization agenda.
Besides asking the People’s Bank of China to rescind its crypto ban decision, Huang also shared his insights on what the apex financial regulator needs to do to boost the relevance of the digital yuan.
The Chinese central bank has launched smart contract functionality for its digital yuan amid new use cases.