Tag Archives: China

Bitcoin (BTC) could see “substantial inflows” from China within the next few months, amid a weakening Chinese yuan and one of the country’s biggest capital flights in years.  “The familiarity of Bitcoin by Chinese investors in times of a weakening domestic economy could see substantial inflows into Bitcoin over the …

The fight against crypto-related money laundering continues as Singaporean Authorities probe suspected channels. According to a September 21 Bloomberg report, Singapore banks have extended ongoing money laundering investigations to clients of Chinese origin. Amid the probe, they have frozen and seized $1.8 million in crypto assets, cash, and properties since …

Ernie’s release follows the new regulation in the AI industry introduced by the Chinese government. Notably, Baidu became the first company to get an approval from the authorities.  On March 16, Chinese internet search services giant Baidu Inc (HKG: 9888) revealed its Chinese-language ChatGPT alternative – Ernie chatbot. At that time, the …

According to some experts, the idea of providing each person with a digital ID that also contains their social traits and other personal information is more akin to the Chinese social credit system. China is proposing a strategy to exert control over people’s activities in the metaverse by developing a …

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. On Monday, August 21, China announced its decision to cut the one-year benchmark lending rates with authorities …

The emergence of high-level artificial intelligence (AI) technology has caused the United States and China to safeguard their resources in a race to develop the most powerful systems. A tense relationship is developing between the two world powers, as the Biden Administration announced it would limit Chinese tech investments in …

Binance’s influence is undeniable as the exchange boasts a staggering total of over 128 million users worldwide. Binance, the world’s largest crypto exchange, has defied all expectations by maintaining its position as the dominant player in China, even in the face of a crypto ban imposed by the country in …

China has been at the forefront of CBDC development, with ongoing trials and pilot programs for the digital yuan. Jeremy Allaire, the co-founder and CEO of stablecoin issuer Circle Financial, has recently urged Chinese authorities to consider yuan-backed stablecoins as a viable alternative to Central Bank Digital Currencies (CBDCs). Circle …

While the Chinese smartphone market experienced a 5% decline in sales during the first quarter of 2023, Apple’s iPhone sales demonstrated resilience, growing by 6% year-on-year during the same period. Apple, an American multinational technology company, has expanded its retail presence in China, the world’s second-largest economy, with the launch …

As part of the rules, China will require a license from companies developing AI tools, obtainable before product launch. China is currently mulling tighter rules to govern and supervise the creation and application of generative artificial technology (AI) tools. Although the Beijing government supports AI in general, authorities are reportedly …

Freshippo’s expansion comes three months after its parent company Alibaba revealed its restructuring plans. Freshippo, Alibaba Group’s retail grocery subsidiary, has opened 12 new stores across Mainland China. The stores are strategically located in key cities such as Beijing, Shanghai, and Guangzhou, aiming to cater to the growing demand for …

Several Wall Street Banks, including Goldman Sachs, have cut their outlook on growth in China as the economy struggles. Leading global investment banking and management firm Goldman Sachs has joined several Wall Street banks to reduce its growth outlook for China. This downgrade comes as the East Asian powerhouse is …