The Belt and Road Initiative (BRI) presents significant risks for U.S. economic, political, climate change, security, and health interests, the Council on Foreign Relations (CFR) has said in a new report. Among these risks are those stemming from China’s growing financial techno...
Two Chinese top banks have made it possible for two local department stores and one food caterer to become Shanghai’s first retailers to accept China’s digital yuan on a limited scale over the weekend. According to Li Wei, the Brand Director of Shanghai New World, one of the three r...
The Multiple Central Bank Digital Currency Bridge (m-CBDC) project which runs on a distributed ledger technology (DLT) network could eventually run on China’s new Blockchain Service Network (BSN). This is according to Fintech and China expert Richard Turrin, author of...
China’s test of its digital currency electronic payment (DCEP) project continues in one of its major cities, and a much larger one than in Beijing earlier this month. The southwestern Chinese city of Chengdu announced on Tuesday that it will be distributing CNY40.2 million (about $6...
The Digital Currency Institute (DCI) of the People’s Bank of China (PBoC) has joined the second phase of a central bank digital currency (CBDC) project for cross-border payments that goes beyond Chinese territory, parties involved have stated. The Multiple Central Bank Di...
There have been talks of China’s digital yuan or digital currency electronic payment (DCEP) project aiming to challenge the US dollar dominance on the world stage but a senior fellow at the Peterson Institute for International Economics has said that the digital currency would have to c...
As part of activities marking the first anniversary of the countdown to the opening of the Winter Olympics in 2022, the city of Beijing has announced it plans to issue 50,000 digital red envelopes with an amount of 200 yuan (or about $30) each thus running to about 10 million yuan (about $1.5 m...
After a series of major tests within its borders, China’s Digital Currency Electronic Payment (DCEP) project seems to be on the verge of being taken across borders following Thursday’s news of a joint venture with the global system for financial messaging and cross-border payments, SW...
The trial of China's digital currency electronic payment (DCEP) project continues in yet another major city, Shanghai, and is being experimented in a physical card form instead of smartphones for digital payments. Medical staff at the Tongren Hospital Shanghai Jiaotong University Sc...
After the trial phase in Suzhou as an upgraded version of the Shenzhen pilot and two major banks - Postal Savings Bank of China and Bank of Communications - joining the experimentation, China’s digital currency and electronic payment (DCEP) project has reportedly found its way to Bei...
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