BANK OF CHINA LTD AD Stock News

Michael Spencer of the investment bank discusses the Peoples Bank of Chinas RRR cut and gives his forecast for the countrys economic growth next year.

Equities, especially the reopening stocks, benefit from encouraging news that the omicron symptoms are rather mild and that the Peoples Bank of China loosens its purses strings to provide support to the Chinese economy which is being shaken by a terrible property crisis, along with the coronavirus and the broad crackdown on its most valuable [] The post A Fragile Improvement In Market Mood appeared first on Action Forex .

Highlights Chinese real estate firm Evergrande Group fails to repay creditors. Evergrande shares fell 20% on Monday after the Company announced it cannot guarantee enough funds to meet its financial obligations. The ailing Chinese developer currently has around US$300 billion in total liabilities. Shares of Chinese real estate firm Evergrande Group dropped by 20% on Monday to hit an 11-year low after the firm announced that it cannot guarantee enough funds to meet its financial obligations, which currently has around US$300 billion in total liabilities. The stock closed 20% lower at 1.81 Hong Kong dollars hitting the lowest since 2009 on Monday. Since the beginning of FY21, the company has lost around 87% of its value. The company now must repay its creditors with an expiry of 30-day grace period on interest payments on its dollar-denominated bonds. However, as per the media reports, the provincial government of Guangdong summoned Evergrandes chairman Xu to a meeting on Friday. RELATED READ - Is Chinas Evergrande crisis a threat to Australian miners?

Apparently, the Peoples Bank Of China is considering using blockchain technology to power the Digital Yuan CBDC. The coin, also known as Digital renminbi or digital RMB, has been in beta-testing for a while now. However, Di Gang, deputy director of the Digital Currency Institute of the Peoples Bank of China, recently presented an extensive report on blockchain technology. It was at the 18th annual global meeting of the International Finance Forum (IFF) on Dec. 5, and Chinese journalist Colin Wu translated the main points for us to analyze. Related Reading | How Samsung Will Help The Bank Of Korea With CBDC Development Before we do that, lets consider this. Their CBDC is a completely centralized affair. Why would the Peoples Bank Of China use a blockchain? In other words, why would China need a blockchain for its CBDC if its aim is not decentralization or censorship resistance? A centralized database is orders of magnitude more efficient than a blockchain. And it doesnt need mining to validate transactions, nor PoW or PoS to reach consensus.

The Peoples Bank of China has announced that it would once again be reducing the reserve requirement ratio, freeing up roughly $188.3 billion for the Chinese economy, reports the Wall Street Journal. The bank will be reducing the reserve requirement ratio by 0.5% beginning on December 15 and will release 1.2 trillion yuan into Chinas [] The post Chinas Economy Just Got a Boost From Central Bank Easing appeared first on ETF Trends .

BEIJING: The recent default of property developer China Evergrande Group is an individual case and will pose little impact on the market, the countrys regulatory authorities said. Evergrandes problem was mainly caused by its own mismanagement and break-neck expansion, an official with the Peoples Bank of China told the press when asked to comment on [] The post Chinese regulators say Evergrande default an individual case, impact controllable appeared first on BOL News .

Both metaverses and NFTs are in the crosshairs of the Peoples Bank of China, which wants to track them using anti-money laundering tools. Continue reading on Medium »

Chinas ongoing crypto crackdown could soon extend into the realm of the metaverse and nonfungible tokens (NFTs). As CoinTelegraph reported Wednesday (Dec. 1), Gou Wenjun, who directs the Peoples Bank of Chinas anti-money laundering unit, made comments at a financial security summit that implied more oversight on these two areas. Gou said that without regulations, []

Bank of China Limited (OTCMKTS:BACHY) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 135,100 shares, an increase of 47.3% from the October 31st total of 91,700 shares. Based on an average daily volume of 168,700 shares, the short-interest ratio is presently 0.8 []

The metaverse and NFTs are in the crosshairs of the Peoples Bank of China, which wants to track the with Anti-Money Laundering tools. Chinas crackdown on crypto is expanding into the metaverse and nonfungible tokens (NFTs), an executive at the Peoples Bank of China (PBoC) recently implied. Speaking at a national financial security summit, Gou Wenjun, the director of the Anti-Money Laundering (AML) unit at the PBoC, pointed to the risks associated with leaving the new trends of the crypto ecosystem like NFTs and metaverse unregulated. He claimed that, while people would use said virtual assets for privacy and wealth appreciation, they are also prone to be used for illicit purposes like money laundering and tax evasion. The fast-paced innovation of the crypto world requires higher requirements in terms of risk supervision and governance, said the AML head, adding that the isolated nature of crypto, NFT and metaverse-based items from the real world can be used as a money-laundering tool.

Luyuan, Bank of China, Tencent, Huawei, Airland, Sa Sa, Chow Tai Fook and CTBC Bank winners at the 2021 Virtual World Branding Awards

In China, what seems to be a crackdown on Big Tech on the payments giants in particular continues. Or maybe not, depending on where you look. And thus, some confusion reigns, at least for now. To that end, as reported by Crowdfundinsider.com, the Peoples Bank of China (PBOC) has banned the WeChat and []

In recent trade today, the Peoples Bank of China (PBOC) set the yuan (CNY) at 6.3794 vs the estimated 6.3793 and the previous 6.3872. About the fix C

The Chinese central bank has made haste to quell concern over a recent decision to prohibit the use of personal QR codes provided by payments platforms such as WeChat and Alipay for business activities. Reports began to circulate on 26 November that the Peoples Bank of China (PBOC) was placing a ban on the use []

In recent trade today, the Peoples Bank of China (PBOC) set the yuan (CNY) at 6.3872 vs the estimated 6.3805 and the previous 6.3936. About the fix C