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Inflation in China registered an increase of 0.1% year-over-year in April, according to numbers from the National Bureau of Statistics of the country, falling below expectations. Some analysts are already warning about the dangers of deflation, even calling on the Chinese government to deliver cash handouts in order to push
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On May 10, the National Blockchain Technology Innovation Center, first announced in February, has officially started its work in the capital city of Beijing. The Center will collaborate with local universities, think tanks and blockchain businesses to develop blockchain implementation in China. The institution will reportedly train more than 500,000
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China’s national blockchain research center, which began operation on Wednesday, plans to train at least 500,000 blockchain professionals for China’s Web 3.0 industry. It will work with universities, research institutions and enterprises in conducting the training to support the country’s digital economy. See related article: How Web3 in China is taking
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The top Democrat on the House Intelligence Committee has warned that China and Russia would seek to exploit the chaos resulting from a U.S. default. He further cautioned that the U.S. dollar’s reserve currency status could be eroded if the U.S. defaults on its debt obligations. U.S. Lawmaker’s Debt Default Warning Congressman
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A suspect identified only as “Hong” was detained by local authorities and arrested in the Gansu district of China after allegedly using ChatGPT to generate fake news stories. According to a report from the South China Morning Post, Hong was detained after an investigation into an unsubstantiated article relating to a train
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The race to develop artificial intelligence (AI) continues as China pushes forward the development of home-grown AI without utilizing the latest technology from the United States due to current sanctions. According to a report from The Wall Street Journal, Chinese companies are studying methods to develop AI via weaker semiconductors and
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The French bank BNP Paribas is collaborating with the Bank of China (BOC) to promote China's digital currency, the digital yuan, to its corporate clients, the South China Morning Post reported. The partnership will enable BNP Paribas China's corporate clients to connect with the BOC system, allowing users to manage their
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Following months of repeated price cuts, Tesla has raised the price of some of its EV offerings in China to remain competitive. Tesla (NASDAQ: TSLA) has hiked the price of its new Model S and Model X electric vehicles in China by 19,000 yuan ($2,751). On Friday, the company’s website reflected the
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Gold companies operating in China ramped up their production levels during the first quarter of 2023. According to industry reports, the Chinese gold industry managed to recover its extraction levels, reaching numbers it saw before the Covid pandemic, with the country engaging in a record streak of purchasing gold during
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BRICS nations can lead efforts to abandon the U.S. dollar in international settlements, according to President Bashar Assad of Syria. At a meeting with China’s top diplomat for the region, the leader of the war-torn Middle Eastern country called for using the Chinese yuan for cross-border trade. Economic Clash With West
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