Inflation in China Down to Lowest Number in More Than Two Years; Analyst Proposes Giving Cash Handouts to Avoid Deflation

china inflation deflation cash handoutsInflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push consumer demand. Low Inflation Numbers […]

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China Keeps Stockpiling Gold, Adds 18 Tons in March to Reach 2,068 Tons in National Reserve

china goldThe People’s Bank of China (PBOC) reported an increase in the country’s gold reserves of 18 tons in March, continuing its buying spree. China has consistently added to its gold reserves since November, purchasing more than 100 tons in the last five months. The Asian state now has 2,068 tons in its coffers. China Purchased […]

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Regulators Should Heed Crypto Risks When Innovating Regulation, Says Chinese Central Bank Official

Regulators Should Heed Crypto Risks When Innovating Regulation, Says Chinese Central Bank OfficialA senior People’s Bank of China (PBOC) official has urged regulators to consider cryptocurrency risks and fraud that could lead to bank failures when innovating regulation. The Chinese official highlighted the recent collapse of U.S. banks that provided services to crypto customers as an example. “The regulation philosophy, technology, and capability must be upgraded to […]

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China’s Wechat Adds Support for Digital Yuan Payments

China’s Wechat Adds Support for Digital Yuan PaymentsChinese social media platform Wechat has introduced support for the state-backed digital yuan in its popular payment app. Over a billion users will now ostensibly be able to take advantage of fast payments with the digital currency issued by the People’s Bank of China. Wechat Pay Follows Alipay in Integrating Payments With Digital Yuan The […]

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Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech Opportunities

Chinese Economist Urges Government to Reconsider Crypto Ban — Warns of Missed Tech OpportunitiesAn economics professor and former adviser to the People’s Bank of China has urged the Chinese government to reconsider its ban on cryptocurrencies. He warned that banning crypto activities could result in missed opportunities that are “very valuable” to regulated financial systems. Chinese Economist Warns of Missed Opportunities Due to Crypto Ban A former adviser […]

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China’s Digital Yuan Little Used, Former Central Bank Official Says

China’s Digital Yuan Little Used, Former Central Bank Official SaysTrials of the digital yuan have produced disappointing results, according to a report quoting the former head of research at the Chinese central bank. The new form of national fiat has brought no benefits to the banks and should expand beyond being employed only as a substitute for cash, the banker believes. Common People Used […]

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Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’

Report: China Suspected of Stockpiling Gold to ‘Cut Greenback Dependence’During the first week of November, the World Gold Council’s (WGC) report that covered last quarter’s global gold demand noted that central banks worldwide purchased close to 400 tons of gold in Q3 2022. The study highlighted that it was the “most on record,” and the WGC researchers also spotted a “substantial estimate for unreported […]

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Fed Governor Waller Skeptical of Central Bank Digital Currencies — Says He’s ‘Not a Big Fan’ of the Fed Issuing Digital Dollar

Fed Governor Waller Skeptical About Central Bank Digital Currencies — Says He's 'Not a Big Fan' of the Fed Issuing Digital DollarFederal Reserve Governor Christopher Waller says he is not a big fan of the Fed issuing a central bank digital currency (CBDC). “It’s just a checking account at the Fed,” said the governor. Federal Reserve Chairman Jerome Powell recently said that the central bank has not decided whether to issue a digital dollar. Fed Governor […]

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