In China, local financial authorities on Wednesday, December 20, decided to keep benchmark lending rates at a monthly level, which corresponds to preliminary market expectations and is a predictable action that does not go beyond the most likely scenarios.
China’s Central Bank Digital Currency (CBDC) – e-yuan – will be now used for cross-border payments between China and Singapore, facilitating tourist spending between the two countries.
The Monetary Authority of Singapore (MAS) has instructed companies providing money transfer services to suspend the use of non-bank and non-card channels when interacting with individuals interested in cross-border transactions to China.
Media reports that in China, the number of state organizations and companies supported by the country’s government is gradually increasing, which prohibits their employees from using iPhone smartphones developed by the American technology giant Apple in the workplace.
In China, regional authorities have issued a record number of special bonds to provide support to small banks that are facing problems.
Commerce Secretary Gina Raimondo said that the United States is currently looking into the characteristics of three new artificial intelligence accelerators that Nvidia is developing for the Chinese market.
Chinese chip manufacturer Changxin Memory Technologies Inc. has postponed its initial public offering and currently has plans to explore the possibility of raising funds worth 140 billion yuan ($19.5 billion).
In China, local financial authorities are struggling with falling prices, while in many other countries, central banks are taking measures aimed at curbing the process of increasing the cost of goods and services.
This year’s Singles Day highlighted the growth of livestreaming e-commerce sales, fueled by virtual avatar hosts and AI chatbot use.
The Chinese authorities have promised to take measures to strengthen fiscal policy next year to maintain the economic system of this country, the situation within which tends to become synonymous with weakness, but has not yet reached a catastrophic level and there are chances to remedy the situation.
The Chinese economy has a long way to go, during which it is necessary to overcome steep hill.
China’s exports, according to the results of November, showed growth for the first time since April this year.
Moody’s Investors Service has changed the forecast for Chinese sovereign bonds, lowering the corresponding indicator to negative.
Media reports that in China, millions of local consumers are faced with the problem of blocking access to mobile payment apps.
Experts from the international consulting company McKinsey said that in the foreseeable future, Chinese consumers do not intend to spend large amounts of money on buying goods, which is why local companies should focus more on strategic planning within their business concepts to master the market, which remains huge, despite various problems.
The Chinese company Shanghai Biren Intelligent Technology Co., which specializes in manufacturing activities for making chips for use in artificial intelligence systems, received financial funds for 2 billion yuan ($280 million) as collateral from investors.
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