China’s foreign exchange reserves rise

China’s foreign exchange reserves rose to a six-month high of nearly $3.11 trillion as of the end of December, supported by stronger exports and stable capital inflows amid the financial opening-up, according to regulators on Tuesday. Reserves increased by 1.1 percent over 2018 and were up by $12.3 billion in a single month in December, suggesting general equilibrium of supply and demand in the foreign exchange market, the State Administration of ForeignREAD MORE

World awaits digital currency breakthrough

Nation accelerates blockchain technology development This year, as the world eagerly awaits news of the first government-issued digital currency in a major economy, eyes are turning to China, which is accelerating development of blockchain, the underlying technology required for e-money. In the past 12 months, all announcements by the People’s Bank of China, the central bank, about updates to its proposed digital currency have attracted global media attention. No matter which large economyREAD MORE