China has vowed to intensify its crackdown on virtual currency speculation, with the central bank making its clearest statement to date that stablecoins fall within the scope of illegal financial activities, bringing them further under the onshore monitoring and enforcement framework. At Friday’s meeting of the interagency mechanism for combating virtual currency trading and speculation,…
Visitors select cameras at a photography equipment rental store in Tianjin in May, 2023. LIU XIN/CHINA NEWS SERVICE Cheng Shuo works as an accountant in Suzhou, Jiangsu province, but the 27-year-old’s real passion is attending live music performances. Almost every month, she travels to different cities for concerts, music festivals and fan events. Before each…
BEIJING — The People’s Bank of China, China’s central bank, stated that the country will maintain prohibitive policies regarding virtual currency trading and will continue to crack down on related illegal financial activities in an effort to safeguard the security of people’s property. The bank sent this message at a recent meeting on virtual currency…
Hong Kong will continue to develop its stablecoin licensing regime in an orderly and prudent manner, the Hong Kong Monetary Authority (HKMA) has said, in the process setting “a high bar for licensing” given the novelty and potential risks of the cryptocurrency. In a written response to China Daily, a spokesperson for the HKMA stated…
This aerial drone photo taken on May 28, 2025 shows a view of the Yangpu International Container Port in the Yangpu Economic Development Zone in Danzhou, south China’s Hainan province. [Photo/Xinhua] China’s next stage of development will rely on building a more unified national market, expanding domestic demand and deepening high-standard opening-up, even as protectionism…
Foreign buyers learn about audio products during the 138th edition of the China Import and Export Fair in Guangzhou, South China’s Guangdong province, Oct 15, 2025. [Photo/Xinhua] Momentum is building for China to elevate the renminbi’s global standing in the years ahead, with greater capital account convertibility, a more coherent financial opening framework and expanded…
Momentum is building for China to elevate the renminbi’s global standing in the years ahead, with greater capital account convertibility, a more coherent financial opening framework and expanded private outbound investment set to be among the core of the next reform push, said a veteran economist. “Renminbi internationalization is a natural process,” said Guan Tao,…
The Shanghai Eastern Hub International Business Cooperation Zone has seen its pilot launch area pass a crucial operational readiness review on Nov 28, paving the way for its official launch. [Photo provided to chinadaily.com.cn] The Shanghai Eastern Hub International Business Cooperation Zone has seen its pilot launch area pass a crucial operational readiness review on…
The China Securities Regulatory Commission said in a statement on Friday that it is soliciting public opinions on launching a pilot program for commercial real estate investment trusts, a move designed to broaden financing channels and support the stable development of the property sector. The initiative seeks to implement the new set of nine guidelines…
China is willing to maintain close communication with the United States and work together to ensure the implementation of the outcomes of their economic and trade consultations, said the Ministry of Commerce. He Yongqian, a spokeswoman for the ministry, made the remarks in response to a question on China’s soybean trade with the US at…