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Alipay becomes available in China's digital yuan wallet, 7th commercial bank participating in digital currency's trial run


SOURCE / ECONOMY
By GT staff reporters Published: May 10, 2021 11:33 AM
Residents who received red packets of digital yuan use the money in stores in Shenzhen, Guangdong Province. Photo: Li Hao/GT
MYbank, backed by Alibaba s Ant Group, has been officially included and activated in the digital yuan wallet in recent days, the Global Times learned, making it the first internet bank and the seventh commercial bank to participate in the trial run of the Chinese central bank-backed digital currency.
The inclusion of MYbank will help Chinese regulators test the supervisory system for the digital yuan and track capital flows to prevent systemic financial risks, analysts said. It is the first step in China s heightened scrutiny of fintech companies.  ....

Mybank Alipay , People Bank , Alibaba Ant Group , Agricultural Bank , China Construction Bank , Ant Group , Global Times , Commercial Bank , China Construction , Tmall Supermarket , மக்கள் வங்கி , அலிபாபா எறும்பு குழு , சீனா கட்டுமானம் வங்கி , எறும்பு குழு , உலகளாவிய முறை , வணிகரீதியானது வங்கி , சீனா கட்டுமானம் ,

China shows its cryptocurrency at an international consumer fair


China shows its cryptocurrency at an international consumer fair
China shows its cryptocurrency at an international consumer fair
Beijing, May 10 (Prensa Latina) China made progress in the use of its cryptocurrency after launching it at the first International Consumer Products Expo held in Hainan, which turned into a luxury good showcase, CGTN channel reported on Monday.
CGTN informed that the Central Bank allowed that foreign participants in the event have the experience of making payments with the so-called digital yuan, which has been piloted already in several cities since mid-2020.
The bank also included seven commercial banks and e-commerce platforms, such as Eleme, Hema and Tmall Supermarket, in the tests, as well as launched the digital yuan mobile app. ....

Temas Relacionados , International Consumer Products Expo , Central Bank , Prensa Latina , Tmall Supermarket , சர்வதேச நுகர்வோர் ப்ராடக்ட்ஸ் எக்ஸ்போ , மைய வங்கி , ப்ரெந்ஸ லத்தீன் ,

China's Antitrust Regulators Slam Alibaba and Tencent -- What Should Shareholders Do?


Last month, China s State Administration for Market Regulation (SAMR) drafted new antitrust rules aimed at the country s largest tech companies. It didn t call out any companies at the time, but it declared it would weed out monopolistic practices like price discrimination, the use of exclusive agreements to lock in merchants, and the compulsory collection of user data.
At the time, many analysts speculated the new rules would affect
Tencent (OTC:TCEHY) the most. Those predictions recently came true, as regulators fined both tech giants and the logistics company
SF Holding.
What happened to Alibaba?
The agency fined Alibaba s investment arm 500,000 yuan ($76,472) for not seeking government approval before buying a 73.8% stake in the department store chain ....

Hong Kong , China State Administration For Market Regulation , Sf Holding , Ant Group Alipay , State Administration , Market Regulation , Intime Retail , Sun Art , Ant Group , Tmall Supermarket , China Literature , New Classic Media , Mini Programs , Tencent Music , Wechat Pay , ஹாங் காங் , எஸ் எப் வைத்திருத்தல் , சந்தை ஒழுங்குமுறை , நேர சில்லறை , சூரியன் கலை , எறும்பு குழு , சீனா இலக்கியம் , புதியது செந்தரம் மீடியா , மினி ப்ரோக்ர்யாம்ஸ் , வெச்சாட் செலுத்த ,