People’s Bank of China – Page 2

Report: Nigeria-China Currency Swap Agreement Fails to Ease Pressure on the Naira

Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by the size of the trade imbalance between Nigeria and China Easing Pressure on the Naira According to experts on […]

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CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair

The former CFTC chair argues that AML and KYC measures are outdated and constitutionally questionable and said crypto technology can do better.

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China’s Hainan to boost NFT oversight as digital yuan trial ramps

Hainan’s market regulator wants to promote NFTs as part of the digital economy, but will actively work to weed out bad actors and speculative behavior.

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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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Wuhan omits NFTs from metaverse plan amid regulatory uncertainty in China

The Chinese government has shown a keen interest in developing a metaverse economy, but its stance on NFTs hasn’t been very clear.

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Chinese central bank exec says digital yuan will offer ‘controllable anonymity’

China’s digital yuan is one of the earliest CBDCs whose pilot phase has expanded to include millions of users and billions in transaction volume.

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Bank of China: Digital yuan transactions volume crossed $14B mark

The largest CBDC pilot in the world is going to expand on citizen payments and cross-border operations with Hong Kong.

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Chinese Central Bank Says It Will Prioritize Stabilizing Currency After Yuan Plunges to 14-Year Low Versus USD

Moments after the Chinese yuan’s onshore exchange rate versus the U.S. dollar slumped to 7.2458 per dollar, the Peoples Bank of China responded by stating that it will prioritize stabilizing the currency. Similar to other currencies that have been depreciating against the dollar, the yuan has now lost 12% versus the greenback so far this […]

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China accounts for 84% of all blockchain patent applications, but there’s a catch

China’s push for blockchain technology gained steam after 2019 when President Xi Jinping called for corporations from tech giants to become industry leaders in the nascent tech.

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Chinese Currency Breaches 7:1 Exchange Rate Against US Dollar for First Time in Two Years

The offshore exchange rate of China’s fiat currency versus the U.S. dollar recently breached the 7:1 mark for the first time in over two years, after it touched a new 2022 low of 7.0188 yuan for every dollar on September 15. Similar to other global currencies that have depreciated in 2022, the yuan’s decline is […]

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