21 h. ago Scam and corruption cases spark debate in China over cryptocurrencies’ future

The seizure of enormous cryptocurrency caches in two high-profile criminal cases in China – a former head of the central bank’s digital currency research institute accused of corruption, and an alleged scam centre kingpin linked to about US$15 billion in bitcoin – have sparked questions in the country about the safety and future of virtual money. But analysts said the long-term trend for the assets, especially bitcoin, depended on institutional capital, interest rate expectations and the...

Politics

68 h. ago China’s Central Bank Lowers Rates on Structural Policy Tools

China’s Central Bank Lowers Rates on Structural Policy Tools  The Wall Street Journal

Events

69 h. ago China to cut relending rates, widen credit support for private sector and tech

China’s central bank is looking to pump 900 billion yuan (US$129.2 billion) worth of additional funds into private and technology firms, alongside slashing key policy relending rates by a quarter of a percentage point, in a fresh round of monetary easing designed to shore up the economy. The new plan includes an extra 500 billion yuan for agriculture and small businesses, said Zou Lan, a deputy governor of the bank, at a press conference in Beijing on Thursday. The bank will also expand its...

Politics

4 d. ago China’s central bank sets onshore yuan fixing at strongest point in nearly 16 months

China’s central bank strengthened the yuan’s daily fixing for a third consecutive session to a nearly 16-month high, as the currency also held firm in offshore markets despite recent US dollar strength. On Tuesday, the People’s Bank of China set the yuan’s midpoint rate, also known as the daily fixing rate, at 7.0103 to the US dollar – the strongest showing since the end of September 2024, when the rate was set at 7.0074. That official midpoint rate, however, was still weaker than that of the...

Politics

5 d. ago China woman buys US$28 ‘love insurance’, claims US$1,400 when she gets married a decade later

A Chinese woman who bought a “love insurance” policy for 199 yuan (US$28) in 2016 claimed a 10,000-yuan (US$1,400) payout ten years later. The payout came after she and her partner officially registered their marriage in 2025, following a decade long relationship. The woman surnamed Wu from Xian, Shaanxi province in central China, met her husband, surnamed Wang, in secondary school. The pair began dating and officially entered a relationship in 2015 after enrolling at the same university. They...

Economics

5 d. ago China’s fight against corruption is a battle we can’t afford to lose, Xi Jinping warns

Chinese President Xi Jinping has said there must be no room for corrupt elements to hide as he warned that the problem was a threat to the country’s development. On Monday, he told a plenary session of the Central Commission for Discipline Inspection (CCDI) – China’s top anti-corruption body – that the country had made notable progress last year, but the issue remained a “major struggle”. “Corruption is a stumbling block and obstacle to the development of the [Communist] party and the country,...

Events

8 d. ago Central China Water Towers Provide Stable Water Resources Under Change

Central China Water Towers Provide Stable Water Resources Under Change  eos.org

Politics

9 d. ago Cambodia dissolves accused scam tycoon Chen Zhi’s Prince Bank

A Cambodian bank founded by accused scam boss Chen Zhi, who has been indicted by the United States over a multibillion-dollar fraud and extradited to China, was ordered liquidated on Thursday, Cambodia’s central bank said. Prince Bank “has been placed under liquidation in accordance with the laws of the Kingdom of Cambodia”, the National Bank of Cambodia (NBC) said in a statement. Prince Bank has been “suspended from providing new banking services, including accepting deposits and providing...

Politics

1 week ago China’s central bank signals reserve ratio, interest rate cuts in 2026

China’s central bank has reiterated its commitment to a “moderately loose” policy stance in 2026, pledging stronger countercyclical and cross-cycle adjustments and signalling flexible and efficient use of reserve requirement ratio (RRR) cuts and interest rate reductions to support a strong start to the 15th five-year plan. At a work conference outlining priorities for the coming year, the People’s Bank of China also highlighted goals including a reasonable recovery in prices, mitigating...

Politics

1 week ago China's central bank pledges to cut RRR, interest rate in 2026

China's central bank pledges to cut RRR, interest rate in 2026  Reuters

Politics

1 week ago China acts to end debilitating battle for market share in Central Asia’s auto market

China acts to end debilitating battle for market share in Central Asia’s auto market  Eurasianet

Events

1 week ago As China continues chase for corrupt ‘tigers’, State Council veteran is put under probe

Tian Xuebin, a veteran of China’s State Council who worked under several former Chinese premiers, has been placed under a probe by the Communist Party’s top anti-graft agency. The Central Commission for Discipline Inspection (CCDI), China’s top political disciplinary and anti-corruption agency, on Monday announced the detention of Tian, 62 – who last served as vice-minister of water resources before stepping down in December 2023 – for “suspected serious violations of discipline and law”, a...

Politics

1 week ago China continued hunt for corrupt ‘tigers’ snares State Council veteran

Tian Xuebin, a State Council veteran who worked under several former premiers, has been placed under investigation by the top anti-corruption agency of China’s ruling Communist Party. The Central Commission for Discipline Inspection (CCDI), China’s highest political disciplinary and anti-corruption agency, announced on Monday that Tian, 62, had been detained for “suspected serious violations of discipline and law”, a euphemism for corruption. He last served as vice-minister of water resources...

Politics

1 week ago Xi stresses nonstop efforts to fight undesirable work styles

Xi Jinping, general secretary of the Communist Party of China Central Committee, stressed that the fight against undesirable work styles should not be stopped.

Politics

2 w. ago Huawei hails Ascend AI ecosystem in New Year message as Atlas 900 supernode rolls out

Meng Wanzhou, chief financial officer of Huawei Technologies and daughter of its founder, hailed the company’s breakthroughs in 2025 in a New Year message that vowed to take advantage of “strategic opportunities” amid a “surge of intelligence in all aspects of life and work”. The US-sanctioned telecommunications gear maker, which plays a central role in China’s push for tech self-sufficiency, “built a solid foundation for computing” in 2025 with the expansion of its Kunpeng and Ascend chip...

Politics

3 w. ago CHINA Beijing opens mega Central Asian trade tunnel in Xinjiang

CHINA Beijing opens mega Central Asian trade tunnel in Xinjiang  AsiaNews

Politics

3 w. ago China woman shocked to find male therapist at spa appointment, is mocked for being ‘ignorant’

A woman in central China who was lying naked while awaiting a massage at a spa was shocked when a male therapist appeared, and she refused his services. Following her refusal she was mocked by the manager of the spa for being “ignorant”. The incident unfolded on December 12 at Yushiman Hi-tech Anti-ageing Centre in Changsha, Hunan province. The customer, surnamed Huang, undressed and lay on her stomach on a bed in anticipation of a shoulder and neck massage, Fengmang News reported. Huang said...

Events

3 w. ago China’s mega expressway tunnel opens in Xinjiang, halves north

The world’s longest expressway tunnel has opened to traffic in the Xinjiang Uygur autonomous region, capping five years of construction on a project designed to increase China’s links with Central Asia. The 22.13km (13.75-mile) Tianshan Shengli Tunnel, the centrepiece of the Urumqi-Yuli Expressway, officially opened on Friday, creating a 20-minute drive through the Tianshan Mountains that divide northern and southern Xinjiang. The tunnel halves the travel time between the regional capital Urumqi...

Politics

3 w. ago Tech giants go prime time in the fight for China’s biggest audience

China’s biggest tech groups and a clutch of fast-rising consumer electronics brands are battling for coveted sponsorship slots at the Spring Festival Gala, as intensifying competition in artificial intelligence turns the country’s most watched television broadcast into a rare nationwide marketing battleground. Major players including ByteDance, Tencent Holdings and Alibaba Group Holding had all held discussions with state broadcaster China Central Television (CCTV) over high-stakes partnership...

Politics

3 w. ago Yuan climbs past seven per dollar as China’s central bank caves in to bulls

Yuan climbs past seven per dollar as China’s central bank caves in to bulls  Taipei Times

Politics