Search Results for: Chengdu

Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot

The Chinese central bank, People’s Bank of China has recently approved the city of Chengdu to carry out FinTech innovation supervision pilots. Chengdu, the capital of China’s Sichuan province has been added to the list of regions that could carry out FinTech-related pilots. The People’s Bank of China launched the FinTech regulatory sandbox in December … Continue reading Chinese Central Bank Approves the City of Chengdu for its FinTech Innovation Pilot

Fintech in Belt and Road – the Bavarian Benefits

Belt and Road Initiative—Germany In May 2019, the Munich-based German think tank—Ifo Institute published a study highlighting that the China-proposed Belt and Road Initiative (BRI) can help Bavarian companies enter new markets and ease access to raw materials. The study indicates that through the BRI, trade between Germany’s Bavaria and China is expected to increase by nearly ten … Continue reading Fintech in Belt and Road – the Bavarian Benefits

China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

Local government employees in the city of Suzhou will be receiving China’s central bank digital currency, digital currency electronic payment (DCEP) in May, according to a local news outlet. China has been charging full speed with its digital currency development plans shortly after Facebook revealed its Libra stablecoin project.  Mu Changchun, the Director-General of the … Continue reading China’s Central Bank Digital Currency DCEP to be Operational for Local Government Employees Starting in May

China's Central Bank Says Digital Yuan Will Not Raise Inflation

China’s central bank has been secretive and silent when it comes to the testing of its national digital currency, which has piqued the curiousity of its citizens. A bank representative recently appeared at a state-owned television company responding to such public curiosities and gave an explanation of how the digital yuan would function. Race to … Continue reading China's Central Bank Says Digital Yuan Will Not Raise Inflation

McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan

Mcdonalds has been named along with coffee giant Starbucks as one of the 19 retail firms and restaurants that will be first to try out China’s Digital Yuan in the new district of Xiong’An. On April 22, the Reformation and Development Commission of the Xiong,An district convened to discuss the pilot for China’s Digitial Currency … Continue reading McDonald's, Subway and Starbucks Among the First to Trial China's Digital Yuan

Singapore Consults China on Central Bank Digital Currency

The discussions on central bank digital currencies (CBDCs) are now becoming commonplace in today’s blockchain ecosystem. With growing interests among central banks around the world in developing their own digital currencies, the paradigm on the future of blockchain technology has shifted with notable promises. Singapore has joined its Asian counterparts, like Hong Kong, South Korea, … Continue reading Singapore Consults China on Central Bank Digital Currency

China’s Central Bank Reveals First Cohort of its FinTech Regulatory Sandbox Pilot

The Chinese central bank’s Shanghai headquarters has recently revealed the Shanghai FinTech Innovation regulatory sandbox application list.  The People’s Bank of China’s (PBoC) Shanghai branch is currently soliciting opinions from the public on eight applications to be included in the FinTech innovation supervision pilot. The central bank has revealed that there were 13 applicants, including … Continue reading China’s Central Bank Reveals First Cohort of its FinTech Regulatory Sandbox Pilot

China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed

China has been reportedly continuously expanding the trials of its central bank digital currency (CBDC) significantly, and in the wealthier cities in the country. China’s CBDC, also known as the digital currency electronic payment (DCEP), has been said to be “ready” for some time, however, the exact date of its rollout has not been set. … Continue reading China’s CBDC Testing Expansions Exaggerated, Digital Currency Details Revealed

China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy

China has been developing its central bank digital currency (CBDC) for some time, recently testing its digital currency electronic payment (DCEP) on retail small-scale transactions.  Recently, a Chinese senior central bank official said China should maintain a “normal” monetary policy as the country has been reportedly recovering from the coronavirus pandemic smoothly. Head of monetary … Continue reading China’s DCEP Aims to Restructure the Payment Network While Maintaining a “Normal” Monetary Policy

Chinese City Eyes Blockchain Applications for Urban Governance and Smart Education

Chengdu, the capital city of China’s Sichuan province, seeks to form a blockchain application to revolutionize cross-border trade, urban governance, smart manufacturing, government services, smart education, financial services, smart healthcare, and smart agriculture by 2022. Creating 30 typical blockchain application scenarios This information was disclosed during the city’s international blockchain industry expo dubbed the 2020 … Continue reading Chinese City Eyes Blockchain Applications for Urban Governance and Smart Education

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