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Bank of China releases infographic to raise bitcoin awareness · TechNode
Chinese authorities have been showing a greater willingness to embrace cryptocurrency in recent months.
bitcoin  pboc  china  cryptocurrency 
6 weeks ago by JINYONG86
China’s Plan to Sideline Bitcoin - Bloomberg
The currency would initially replace cash, PBOC Deputy Governor Fan Yifei wrote in an article earlier this year. According to patents registered by the central bank, consumers and businesses would download a mobile wallet and swap their yuan for the digital money, which they could use to make and receive payments. Crucially, the PBOC could also track every time money changes hands. Fan suggested in his article that banks would need to submit daily information on transactions and that there would be caps on transactions by individuals. The PBOC declined to comment.
cryptocurrency  pboc  blockchain  currency  finance 
june 2019 by max_read
PBoC Is Seeking Blockchain Talent to Help Build Its Central Bank Crypto - CoinDesk
The recruitment drive follows a recent CoinDesk report that the digital currency lab had filed more than 40 patent applications within 12 months of its establishment, which combine to outline the big picture of how the PBoC is approaching its goal.

Each of the application focuses on a certain aspect of a digital currency system. When viewed all together, they describe a technology that issues a digital token and can be stored and transacted in a peer-to-peer fashion.
cryptocurrency  globalcoin  currency  pboc 
june 2019 by max_read
Is China about to launch its own cryptocurrency? | World Economic Forum
This is not just a theory. In recent months, it has repeatedly been reported that PBOC is researching and developing its own digital currency. On 5th October, China Finance, PBOC’s official magazine, published an article analyzing the necessity of issuing an official digital currency, starting on a controlled scale. China is well placed to leapfrog to a digital currency and the Chinese government sees great domestic and geopolitical advantages in creating one.

China is already the most cashless large economy in the world, thanks to the duopoly of mobile payment apps - WeChat, by Tencent, and Alibaba’s Alipay. In 2017, the US hosted a total of $337 billion in online payments. In China, it was a whopping $15.7 trillion, $3.2 trillion more than Visa and Mastercard’s combined global volume. But Alibaba and Tencent are not owned by the state and it is highly unlikely the Chinese government will allow such a crucial shift to be controlled by private companies.
china  pboc  currency  blockchain  globalcoin  finance 
june 2019 by max_read
RT : China’s central bank to further inject 250 billion yuan of liquidity into its banks by expanding it…
BREAKING  PBOC  from twitter
january 2019 by edelagrave
How Did China Manage its Currency Over the Summer? | Council on Foreign Relations
I suspect that this would prompt the Trump administration to dust off the 1988 definition of manipulation (weakening a currency to gain a competitive advantage in trade). But that too has problems, as China could respond to concerns that it is guiding its currency down by just letting the yuan float down…the reality now, I think, is that it is in the United States’ interest for China to continue to manage its currency for a while longer.
currency  rmb  pboc  centralbank  dollar  trump  trade 
september 2018 by yorksranter
RT YuanTalks: injects net 200 bn yuan liquidity via open market operation on Tuesday.
The bank unexpectedly i…
PBOC  from twitter
september 2018 by rhyndes
Behind the Bond-Stock Divide Is a Big and Risky Bet on Central Banks - WSJ
The idea is that if stocks are rising, bond yields should be climbing too. Here's how to reconcile it. The answer is central banks. If rates are going to stay lower for longer; if more rounds of quantitative easing are coming; if new ways of easing are coming -- the rates should be going down and stocks moving higher. [...] It's about dividends paying more than bonds. 90% of the bond market universe is near 2% or lower. //&! http://www.zerohedge.com/news/2016-07-12/germany-about-sell-zero-coupon-10-year-bonds-first-time-ever //&! http://www.zerohedge.com/news/2016-07-13/we-just-found-out-who-has-been-buying-all-these-record-low-yielding-bonds - When your nation's bonds are trading with a record low 28bps negative yield (10Y JGBs), everything else in the world (aside from Swiss 10Y) is a relative 'value'...
bond  bubble  ZIRP  NIRP  QE  equity  bubble  hunt  for  yield  central  banks  BIS  Fed  BOE  ECB  BOJ  PBOC  secular  stagnation  wage  growth  output  gap  productivity  gap  squeezed  middle  class  working  poor  Precariat  inequality  Gini  coefficient  western  world  rising  middleclass  Asia  BRIC  income  distribution  tax  evasion  tax  avoidance  crony  capitalism  capitalism  in  crisis  capitalism  neoliberal  neoliberalism  globalisation  global  economy  globalization  free  trade  dividends  underinvestment  business  confidence  consumer  confidence  discretionary  spending  disposable  income  student  debt  consumer  debt  car  loan  property  bubble  speculative  bubble  speculative  bubbles  distortion  asset  allocation  austerity  AI  Robotics  automation  augmented  intelligence  Structural  Impediments  imbalance  unemployment  long-term  unemployment  skills  gap  skill-biased  technological  change  skills  shortage  economic  history  Brexit  technological  history  underemployed  underemployment  part-time  deflation  deflationary  JGB 
july 2016 by asterisk2a
China defends veracity of foreign exchange reserves data — FT.com
Yi Gang, PBoC deputy governor who until January was also head of the foreign exchange regulator, said on Sunday that only highly liquid assets are included in the closely watched headline reserves figure.
march 2016 by 210054
China has no intention to boost exports with yuan devaluation: Premier | Reuters
China does not intend to use a cheaper yuan as a way to boost exports and has the tools to keep the currency stable, Chinese Premier Li Keqiang said in a meeting with the president of the European Bank for Reconstruction and Development, state news agency Xinhua reported Saturday.
china  currency  pboc  devaluation  exchangecontrol 
january 2016 by yorksranter

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