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[sociallocker id="55298"] Chinese authorities have released a master plan for turning southern island province Hainan into a free trade port, Xinhua news reports on June 1. A trade port system will focus on facilitating free trade, investment and cross-border capital flows in the whole island.Government institutions reformThe master plan encourages
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Dow Jones Industrial Average (DJIA) futures point to yet another strong rally on Wall Street Thursday. China approved a controversial new security law over Hong Kong Thursday morning as White House threatened sanctions. Investors are nervous about the Beijing’s next move – ‘China will retaliate on this’ The Dow
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National People’s Congress, China’s parliament and Chinese People’s Political Consultative Conference, the most powerful political advisory body in the country, have recently begun their annual sessions. These are widely referred to as the "Two Sessions" or "lianghui" meetings. These meetings have been ongoing since May 22. The National People’s Congress, or
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OtherSide Entertainment recently announced that Chinese company Tencent would be “moving forward” with the troubled System Shock 3. Right now, the tweet is not particularly clear on what that actually means. If developing this game has been this hard, is it even worth continuing? System Shock 3 is a
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A number of governing entities in China recently came together to issue an official document, proposing the development of a blockchain-based trade finance platform.Contributors included the People's Bank of China, the China Banking Regulatory Commission, China Securities Regulatory Commission, and the Foreign Exchange Bureau.In the document, the four organizations submitted
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The People’s Bank of China, or PBoC, Financial Technology Committee held its first meeting of the year this week. During the meeting, the central bank’s deputy governor, Fan Yifei, urged that the country’s blockchain adoption strategy be accelerated.According to a report released by Sina on May 13, the bank’s deputy
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Another Chinese province, Hainan, joins the blockchain ecosystem with the announcement of a cross-border financial services platform. News of the platform’s pilot was announced on May 8.According to the local newspaper, Hainan Daily, the central government approved the initiative, allowing banks to provide loans to companies that look to export
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Bitcoin’s PoW miners continue to dominate the cryptocurrency mining industry both in terms of total revenue and total security spending. Bitcoin miners received $5.5bn in total block rewards, $5.2bn (94.8%) of which were newly minted coins, and $284m (5.2%) of which were transaction fees.These days, almost everyone in crypto-space is
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China has managed to launch its national Blockchain Service Network (BSN) in April 2020 on schedule, despite the COVID-19 outbreak. China has been an early adopter
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The local government of Ya’an city, in China’s Sichuan province, has announced the region is encouraging bitcoin mining in Sichuan if operations leverage the local hydropower plants. The document released by Ya’an city officials is in stark contrast to how Sichuan lawmakers felt about mining in 2018. Back then
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