Latest news with #SecuritiesTimes
The Standard
24-06-2025
- Business
- The Standard
Top mainland billionaires see fortunes surge on strength of AI
Zhang Yiming, seen in Palo Alto, California, in March 2020, saw his wealth balloon to over 481 billion yuan following the massive traction of ByteDance's content platforms and its early bet on AI tech, according to Securities Times. Photo by REUTERS
South China Morning Post
23-06-2025
- Business
- South China Morning Post
China needs yuan-backed stablecoins ‘sooner rather than later', state media urges Beijing
Beijing must be proactive in 'adapting to the trend of stablecoins', and waiting is not an option as the US has a head start, warns an article on Monday in state media that simultaneously calls for leadership to consider legislation regulating stablecoins while hyping up their potential role in making the yuan a more global currency. Advertisement Securities Times, a publication under party mouthpiece People's Daily, said experts and industry insiders 'generally believe that, as an emerging payment tool, the unique advantages and potential risks of stablecoins cannot be ignored, and that the development of [yuan-backed] stablecoins should be sooner rather than later'. Unlike highly volatile cryptocurrencies such as bitcoin and ethereum, stablecoins anchor their values to a fiat currency or other reserve assets, and are meant to combine the efficiency of cryptocurrencies with the reliability of traditional money. While allowing stablecoins to proliferate without regulations would harm the country's financial system, forgoing such an efficient settlement tool could mean missing a golden opportunity for the yuan, the article warns. 'For China, which is promoting the global use of the yuan, proactively regulating stablecoins and therefore facilitating the internationalisation of the yuan might be a better solution,' the piece said. Stablecoins reduce the capital and time costs ... making cross-border transactions more convenient CICC analysts
Yahoo
18-06-2025
- Business
- Yahoo
China will issue remaining consumer goods subsidies at stable rate, state media says
BEIJING (Reuters) -China will issue the rest of its consumer goods trade-in funds in an orderly manner and the central government is now guiding local governments to use the funds at a stable pace, state media Securities Times reported on Wednesday. The central government has allocated 162 billion yuan ($22.54 billion) out of 300 billion yuan in special treasury funds under the scheme to local governments, the report said. The scheme, a major campaign to revive household consumption in the world's second-biggest economy, helped retail sales rise last month. However, at least six cities and municipalities across China have suspended trade-in subsidies for car buyers in June, according to Reuters' review of government announcements. ($1 = 7.1863 Chinese yuan renminbi)
Reuters
18-06-2025
- Business
- Reuters
China will issue remaining consumer goods subsidies at stable rate, state media says
BEIJING, June 18 (Reuters) - China will issue the rest of its consumer goods trade-in funds in an orderly manner and the central government is now guiding local governments to use the funds at a stable pace, state media Securities Times reported on Wednesday. The central government has allocated 162 billion yuan ($22.54 billion) out of 300 billion yuan in special treasury funds under the scheme to local governments, the report said. The scheme, a major campaign to revive household consumption in the world's second-biggest economy, helped retail sales rise last month. However, at least six cities and municipalities across China have suspended trade-in subsidies for car buyers in June, according to Reuters' review of government announcements. ($1 = 7.1863 Chinese yuan renminbi)
South China Morning Post
07-06-2025
- Business
- South China Morning Post
China's Unitree eyes pre-IPO fundraising, valuing robot maker up to US$2 billion: report
Advertisement Hangzhou -based Unitree's latest financing initiative would value the company between 10 billion yuan and 15 billion yuan (US$1.4 billion and US$2.1 billion), Chinese digital media outlet Sohu Tech reported on Friday, citing sources. That would follow Unitree's restructuring last week, when it changed from a limited liability company into a joint stock limited firm, according to Chinese corporate database Tianyancha. A joint stock limited structure lets a company issue and transfer shares, allowing it to raise more capital as it scales up its operations. This move appears to put the firm another step closer to going public on mainland China's stock exchanges. In a letter to business partners, Unitree said the conversion into a joint stock limited company was done to address the firm's 'development needs', according to a report by the state-owned financial newspaper Securities Times. Advertisement Unitree did not immediately respond to a request for comment on Friday about its latest effort to generate new investment.
