Tag Archives: president xi jinping

While the stocks have a bearish sentiment at this time, the projection for the future has been keeping many investors optimistic about the Chinese markets.The current Chinese political makeup has stirred a massive slump in the stocks of the top tech companies in the country. After Monday’s trading session, the shares of Alibaba Group Holding Ltd (HKG: 9988) dropped 11.42% to HKD61.65, Tencent Holdings Ltd (HKG: 0700) slid by 11.43% to end the day at HKD206.20 while delivery giant, Meituan...

Ever since cryptos came into existence a decade ago, a lot has changed in the financial world. Many crypto proponents suggested a while back that digital currencies will soon take over the world. They said that cryptos will eventually render fiat currencies obsolete. However, new studies show that cash is unlikely to disappear ‘anytime soon.’Although there is declining use of cash as a payment method and the cryptos are surging, Deutsche Bank is convinced that money is here to stay. The...

Tencent, the Chinese technology giant that operates the social media app WeChat, has announced that it is planning to develop a digital currency research group. This research group will have the responsibility of further advancing various blockchain technology research projects. According to fresh reports by iFeng, the company had released an official statement to its employees telling them that it is seeking someone to head the proposed research group.The yet-to-be-established digital...

Recent reports currently suggest that one of the world’s largest cryptocurrency exchanges, Binance, has had its Shanghai office shutdown causing its many staff members to either work remotely or even completely abandon China and move to Singapore. According to sources familiar with the matter as cited by The Block, there is currently no fully functioning Binance Shanghai anymore.The cited sources have also added that the office was recently raided by police in the area, for unknown reasons....

Photo: Acumen_ / FlickrIn recent weeks, China appears to be retracting its hard stand against crypto activities within its jurisdiction. Notably, even President Xi Jinping encouraged Chinese investors to take up blockchain and crypto activities in an attempt to diversify the Asian economy.These developments have made billionaire Michael Novogratz warn that the United State’s reserve status might soon be undermined by the Chinese revolution. In his statement, he insists that China is already...