Lens
Regulation
Shanghai outlined its plan to expand digital yuan pilot programs into the city’s five-year plan, in a recently released policy statement, “Shanghai’s Five-Year Plan of Comprehensive Promotion of Urban Digital Transformation.” Fast facts The plan said the city will expand pilot program for online and offline payments, transportation and government services. Shanghai is among the […]
Ningwei Qin
Regulation
The Municipal Administrative Center of Beijing officially announced the launch of an e-CNY enterprise zone to “explore the digital renminbi financial system.” The plan includes support for experimental digital currency projects including by increasing 5G infrastructure to enable faster transactions. Fast facts E-CNY is China’s central bank digital currency (CBDC). It is anticipated to be […]
Ningwei Qin
Regulation
JD.com, an online retailing platform ranked by trading volume as No. 1 in China and No. 13 globally by Deloitte, said it will accept electronic yuan (e-CNY) payments during the upcoming Double 11 shopping festival and will issue digital yuan coupons during the event. Fast facts The Double 11 shopping festival refers to a Chinese […]
Ningwei Qin
Regulation
The soft rollout of the electronic Chinese yuan (e-CNY) continues across China in advance of its expected formal launch in time for the Beijing Winter Olympics in February. In the latest sign, Beijing Capital International Airport has become the first airport in the country to support payment by the central bank digital currency (CBDC), which […]
Ningwei Qin
Regulation
The Postal Savings Bank of China has become one of the appointed research and development institutions for the electronic Chinese yuan (e-CNY), allowing the bank to hold a first-mover advantage in the competition for position in China’s electronic payments market, its owner, the state-owned China Post Group, said in an article. Fast facts The bank […]
Ningwei Qin
Regulation
According to a Shenzhen state-owned newspaper, Shenzhen now has nearly 120,000 e-CNY pilot program application scenarios, ranking first in the country. Fast facts In October last year, Hong Kong’s neighboring city, Shenzhen, became the first e-CNY pilot city, which rolled out the first batch of 50,000 e-CNY red packets with a total value of 10 […]
Ningwei Qin
Regulation
In a special Q&A, a Canadian law advisor who works with Chinese clients breaks down the ban’s potential legal boundaries and concerns held by overseas Chinese.
Timmy Shen
Altcoins
Chinese communications giant China Mobile and Industrial and Commercial Bank of China jointly released an e-CNY wallet based on the upgraded SMS service Message over 5G. The wallet allows users to transfer money, check balances, pay bills, and perform other functions through the chat window. Fast facts Message over 5G is an upgraded text message […]
Ningwei Qin
Regulation
China’s crypto ban is part of a global battle over freedom and ideology, writes Michael B. Greenwald. How can the US lead the world in a different path?
Michael B. Greenwald
Regulation
China’s hardline stance against crypto is already rippling beyond its borders. A mainland crypto insider explains the global shakeup yet to come.
Lily Z. King
