The Chairman of the China International Economic Exchange Center, Huang Qifan, revealed in October that China has been working on a central bank-issued digital currency for five to six years and he’s confident it can be introduced very soon.… Continue Reading
China is at the forefront of efforts to revolutionize digital mobile cross-border payment systems. Already, traders on the 21st century digital silk road are sending payments from Hong Kong to the Philippines and Pakistan, among other places, in mere seconds using blockchain-based, cross-border, mobile digital wallets from Chinese tech giants, including Ant Financial’s Alipay and Tencent Holdings Ltd.’s… Continue Reading
Alibaba group vice president Liu Chunning was taken into custody by Chinese police for corruption and bribery, according to local reports.
Liu was previously a Tencent executive and his arrest was due to report by Tencent, which competes directly in online video area with Alibaba’s film and video business. … Continue Reading