Articles for Digital Yuan

Virtual humans helping spur e-commerce
7 months, 2 weeks ago

Virtual humans helping spur e-commerce

China Daily  

Digital human technologies used for livestreaming sessions are displayed at the 4th China International Consumer Products Expo in Haikou, Hainan province, in April. So far, JD's AI-powered virtual livestreamers have promoted more than 4,000 brands, contributing to a 30 percent increase in order conversion rates during off-peak hours and helping merchants reduce livestreaming costs, enhance operational efficiency and optimize user …

China Digital Ai Yuan Liu Human Virtual Hosts
Blinkered view
8 months ago

Blinkered view

China Daily  

JIN DING/CHINA DAILY Ratings agency Fitch downgraded its outlook for China in its most recent report. Although Fitch acknowledges the structure of the economy is changing as China shifts to a new growth model, it appears not to recognize the full significance and driver of this transition in its report. When the central government did not come to the rescue, …

Economy Economic Chinese China Daily Fitch 2023 China
Huangjing Green Digital Economy Industrial Park
1 year, 7 months ago

Huangjing Green Digital Economy Industrial Park

China Daily  

By Taicang | chinadaily.com.cn | Updated: May 17, 2023 Huangjing Green Digital Economy Industrial Park has a planned area of over 1000 mu. Relying on the key projects of digital economy industry in the park, such as VNET Data Center, Chayora Zhong Li Yun Zhi Data Center and Aoxin Semiconductor, the park will form an upstream and downstream industrial chain …

Industrial Park Data Center Industrial Park
China's digital currency raises concern as wages of thousands of public servants moves to e-CNY
1 year, 7 months ago

China's digital currency raises concern as wages of thousands of public servants moves to e-CNY

ABC  

Starting this month, thousands of workers in a Chinese city will be paid their wages entirely in digital yuan, in what has been described by the central government as a "milestone" for the currency. Key points: The digital currency was first trialled in 2019 and is now able to be used in 26 cities across 17 provinces Authorities have been …

China Public Servants Bank Bitcoin Pay Digital Currency Currency
Taishan district bolsters efforts to develop projects in 2023
1 year, 10 months ago

Taishan district bolsters efforts to develop projects in 2023

China Daily  

Taishan district in Tai'an has been bolstering its efforts to develop key projects recently. With an investment of 1 billion yuan, Shandong Taikai Power Electronic Co has intelligently upgraded its five production lines, such as its extra high voltage reactor line, and commenced new projects like photovoltaic power generation and energy storage systems. In addition, Taishan district sticks to the …

Develop Taishan Taishan District
Forum points way for city to become cultural hub
2 years, 4 months ago

Forum points way for city to become cultural hub

China Daily  

Forum participants visit a museum, which features traditional Beijing crafts, during the forum. Profit for the city's cultural industry reached 142 billion yuan in 2021, up 47.5 percent year-on-year. For instance, cultural institutes such as the National Center for Performing Arts and Beijing People's Art Theatre broadcast their shows online in 8K quality to a wider audience. On Monday night, …

Cultural Beijing
China vows privacy, information protection in using digital yuan
2 years, 4 months ago

China vows privacy, information protection in using digital yuan

The Hindu  

China will fully respect privacy and protect personal information in using the digital yuan, state media quoted a senior central bank official as saying on Sunday, as Beijing encourages greater adoption of e-CNY. Limited anonymity is a key feature of the digital yuan, Mu Changchun, director-general of the central bank’s Digital Currency Research Institute said, noting it ensures reasonable anonymous …

China Central Bank Digital Digital Yuan
每日一词∣数字经济 digital economy
2 years, 5 months ago

每日一词∣数字经济 digital economy

China Daily  

工业和信息化部称，近年来，我国数字经济蓬勃发展，产业规模持续快速增长。据统计，从2012年至2021年，我国数字经济规模从11万亿元增长到超45万亿元，数字经济占GDP比重由21.6%提升至39.8%。 China's digital economy logged rapid expansion in recent years, with its scale increasing from 11 trillion yuan in 2012 to over 45 trillion yuan in 2021, according to the Ministry of Industry and Information Technology. The proportion of the digital economy in China's GDP rose from 21.6 percent to 39.8 percent in the period. 2022年5月27日，工作人员在贵州大学省部共建公共大数据国家重点实验室算力中心巡检。（图片来源：新华社） 【知识点】 根据《数字经济及其核心产业统计分类（2021）》文件中的定义，数字经济是指以数据资源作为关键生产要素、以现代信息网络作为重要载体、以信息通信技术的有效使用作为效率提升和经济结构优化的重要推动力的一系列经济活动。 近年来，我国数字经济蓬勃发展，产业规模持续快速增长，已数年稳居世界第二。同时，新型基础设施建设提速，数字产业化深入推进。目前，我国已建成全球规模最大、技术领先的网络基础设施。大数据、云计算、人工智能加速融入工业、能源、医疗、交通、教育、农业等行业。在数字化、智能化时代，算力是数字经济发展的核心生产力。目前，我国算力产业链已经初步形成，我国不少相关企业在全球已具备领先优势。“十四五”规划和2035年远景目标纲要明确指出，要加快构建全国一体化大数据中心体系，强化算力统筹智能调度，建设若干国家枢纽节点和大数据中心集群，建设E级和10E级超级计算中心。这为今后5年我国的算力产业发展指明了方向。 【重要讲话】 …

Economy Digital Digital Economy
China uses digital yuan to stimulate virus-hit consumption
2 years, 6 months ago

China uses digital yuan to stimulate virus-hit consumption

The Hindu  

China is using the digital yuan to stimulate consumption in its pandemic-hit economy, with more e-CNY applications expected in future to boost transparency and effectiveness of government policies. The southern city of Shenzhen started distributing 30 million yuan worth of free digital cash on Monday to revive consumption and aid businesses. It comes days after Xiong'an New Area in northern …

China Digital Yuan
U.S. bill would bar Google, Apple from hosting apps that accept China’s digital yuan
2 years, 6 months ago

U.S. bill would bar Google, Apple from hosting apps that accept China’s digital yuan

The Hindu  

Republican senators want to bar U.S. app stores including Apple and Google from hosting apps that allow payments to be made with China's digital currency, amid fears the payment system could allow Beijing to spy on Americans. It is According to Cotton's office, digital yuan could provide the Chinese government with "real-time visibility into all transactions on the network, posing …

China Chinese Google Apple Digital Yuan
Gains from new financial standards plan foreseen
2 years, 10 months ago

Gains from new financial standards plan foreseen

China Daily  

A new plan to advance standardization in the financial sector during the 14th Five-Year Plan period will facilitate the high-quality development of China's financial services industry. A new plan to advance standardization in the financial sector during the 14th Five-Year Plan period will facilitate the high-quality development of China's financial services industry and help improve the development efficiency of the …

China Financial Digital Plan Digital Yuan
China’s digital yuan shows why we still need cryptocurrencies like bitcoin
2 years, 10 months ago

China’s digital yuan shows why we still need cryptocurrencies like bitcoin

CNN  

Editor’s Note: Emily Parker is an executive director at CoinDesk, a former policy advisor at the US State Department and writer/editor at The Wall Street Journal. China’s digital yuan is poised to make its debut on the global stage this week, with foreign athletes and others at the Beijing Olympics able to use it for the first time. Fanusie said …

China Privacy Data Digital Bitcoin Cryptocurrencies Need
每日一词∣数字人民币 China's digital yuan
2 years, 11 months ago

每日一词∣数字人民币 China's digital yuan

China Daily  

中国人民银行金融市场司司长邹澜1月18日在新闻发布会上表示，我国稳妥推进数字人民币研发试点，截至2021年12月31日，数字人民币试点场景已超过808万个，累计开立个人钱包2.61亿个，交易金额近875.7亿元。 China's digital yuan transactions hit nearly 87.57 billion yuan at the end of 2021, as the country ramped up research and pilot use of the central bank's digital currency. A total of 261 million personal wallets for the digital yuan had been opened, and the number of pilot scenarios had exceeded 8.08 million, said Zou Lan, an official with …

China Digital Digital Yuan
每日一词∣数字人民币 China's digital yuan
2 years, 11 months ago

每日一词∣数字人民币 China's digital yuan

China Daily  

中国人民银行金融市场司司长邹澜1月18日在新闻发布会上表示，我国稳妥推进数字人民币研发试点，截至2021年12月31日，数字人民币试点场景已超过808万个，累计开立个人钱包2.61亿个，交易金额近875.7亿元。 China's digital yuan transactions hit nearly 87.57 billion yuan at the end of 2021, as the country ramped up research and pilot use of the central bank's digital currency. A total of 261 million personal wallets for the digital yuan had been opened, and the number of pilot scenarios had exceeded 8.08 million, said Zou Lan, an official with …

China Digital Yuan
China central bank launches digital yuan wallet apps for Android, iOS
2 years, 11 months ago

China central bank launches digital yuan wallet apps for Android, iOS

The Hindu  

China has released pilot versions of its digital yuan wallet application on mobile phone app stores as the country's central bank steps up its push to develop its own digital currency. The "e-CNY " app, developed by the People's Bank of China's digital currency research institute, was available for download on Chinese Android and Apple app stores on Tuesday in …

China App Bank Digital Digital Yuan
China’s digital currency challenge: Winning hearts and minds
3 years ago

China’s digital currency challenge: Winning hearts and minds

Live Mint  

China has convinced financial policy makers everywhere of its resolve to create a digital version of its currency, even helping to spur the Federal Reserve to study developing an electronic version of the dollar. Two payment services—Ant Group Co.’s Alipay and the pay function within Tencent Holdings Ltd.’s WeChat app—have already transformed urban China into a seemingly cashless society in …

China Bank Pay Currency Payment Beijing Central
China digital currency trials show threat to Alipay
3 years, 7 months ago

China digital currency trials show threat to Alipay

The Hindu  

In China's commercial hub Shanghai, six big state banks are quietly promoting digital yuan ahead of a May 5 shopping festival, carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay. "People will realise that digital yuan payment is so convenient that I don't have to rely on Alipay or WeChat Pay anymore," …

China Data Bank Digital Digital Currency Currency Payment
China gives $1.5 million worth digital yuan to select citizens
4 years, 2 months ago

China gives $1.5 million worth digital yuan to select citizens

The Hindu  

China's experimental $1.5 million giveaway of digital yuan to Shenzhen citizens ended on Sunday with acclaim from currency analysts - and scepticism from some users saying they preferred existing shopping tools like the ubiquitous Alipay app. He said whether ordinary people would shop with digital yuan rather than mobile phone-based payment platforms like WeChat or Alipay “all comes down to …

China Pay Digital Currency Yuan Shenzhen Zhong Digital Yuan
Chinese central bank to give away 10 million in digital currency in first public trial of new payment system
4 years, 2 months ago

Chinese central bank to give away 10 million in digital currency in first public trial of new payment system

ABC  

China's central bank will issue 10 million yuan of digital currency to 50,000 randomly selected consumers in what some see as the country's first public test of the digital yuan payment system. Key points: The campaign comes as central banks worldwide race to modernise payment systems Any individuals in China's southern city of Shenzhen can apply through the country's big …

China Bank Digital Currency Currency Payment Central Banks Chinese