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,…
The Power Construction Corporation of China announced late on Saturday that it had launched a comprehensive investigation into media reports alleging severe quality defects in the construction of the Yong’an Pumped Storage Power Station in Fujian province. The company, also known as PowerChina, stated that it had established an investigation team, and will work with…
China’s factory activity improved slightly in November, but was still below the 50-point mark that separates contraction from expansion, official data showed on Sunday. Data from the National Bureau of Statistics showed that China’s official purchasing managers index (PMI) for the manufacturing sector stood at 49.2 in November, up from 49 in October. Huo Lihui,…
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…
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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…
In 2023, there were 3 298 fatal accidents and 2.82 million non-fatal accidents at work in the EU. The highest share of fatal work accidents in the EU was registered in public areas (25.0%; 825 fatal accidents), followed by industrial sites (19.8%; 654), construction sites, opencast quarries or mines (16.9%; 556) and farming, fish farming…
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