People’s Bank of China

Emerging tech firms face tighter scrutiny

PBOC officials moot stricter measures in financial sector to protect investors Regulators are expected to adopt a tough stance on emerging technology in the financial sector and extend supervision of technology giants in an effort to curb systemic risks, central bank officials said on Tuesday. Over-innovated financial products with lagging regulation may lead to financial […]

China’s Digital Yuan Will Target Retail Payments First, Ex-Central Banker Says

One of China’s first goals with its central bank digital currency is to facilitate retail payments, a former senior official said Monday. Speaking at the Caixin Hengqin Forum in Zhuhai, former head of the People’s Bank of China Xiaochuan Zhou said the country will stress the retail use of digital payment for the digital yuan, […]

Forget bitcoin, China’s crypto-yuan is set to transform banking

Digital currencies could become substitutes not just for physical cash but also for bank reserves. So is China readying its own bitcoin? Banish the thought. It’s far bigger than that. Yes, just like any other crypto-currency — or for that matter, cigarettes in POW camps — the upcoming digital yuan will be “tokenised” money. But […]

What is China’s digital currency plan?

The central bank has been quietly working on the project for five years. What do we know? Since 2014, China’s central bank has been working on a project called “DC/EP”: Digital Currency/Electronic Payments. Yi Gang, the governor of the People’s Bank of China, said the plan was not to create a new currency, such as […]

Bubble or smart bet? Blockchain-stock frenzy in China spotlights hype and hope for investors in new technology

Profitable application of promising technology is years away, analysts say Xi Jinping’s call for rapid blockchain development creates quick boom and bust for linked stocks Are blockchain stocks the next big thing for investors? Analysts think not. They smell another speculative bubble. Blockchain-related stocks went on a wild roller-coaster ride last week, triggered by a […]

New digital currency sets the world talking

Adoption of stablecoins proves popular Different forms of currency have been used over the ages — such as seashells, wampum and metal coins — and in more recent times, bank notes made from paper and plastic are in wide circulation. Nowadays, the digital era is set to redefine the features of money and the ways […]

Crypto contradiction: Boom Bust explores how governments try to control cryptocurrencies that were not meant to be regulated

China’s Central Bank has unveiled plans to roll out its own digital currency, which will be called DCEP (Digital currency Electronic Payment). Beijing has been working on the project for about five or six years. RT’s Boom Bust talks to Todd Horwitz of Bubba Trading about the latest in digital currency developments. “If you look […]

Chinese Regulators Question 8 Crypto Companies in Shenzhen

Authorities in Shenzhen have started pressuring crypto businesses operating in China’s tech capital. Eight companies, two suspected operators of trading platforms, and six entities allegedly associated with coin offerings, have been placed under inquiry, Chinese media revealed, with authorities reportedly questioning their representatives at a meeting hosted by Shenzhen Financial Regulatory Bureau. Exchanges and ICOs Under […]

China rushes to embrace blockchain with Facebook’s Libra just around the corner

People’s Bank of China is preparing to launch its own digital currency, with President Xi Jinping urging an aggressive approach Last week, Facebook founder Mark Zuckerberg told US lawmakers that Libra was essential to projecting American financial leadership around the world China is looking to apply blockchain and artificial intelligence technologies in cross-border financing and […]

China’s Riskiest Banks Have Run Into Trouble. Why That Matters in the U.S.

China’s long-running debt problems reached a tipping point this year, crippling numerous small lenders and raising concerns about a systemic liquidity crunch. The lack of confidence resulted in multiple rural bank runs. Worse still, the estimated trillions of dollars of debt across the country is likely to be larger than is measurable, due to years of so-called […]

Scroll to top
Translate »