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The State Administration of Market Regulation was formed just three years ago. The government agency has become one of the most powerful forces in China’s crackdown on Internet giants.
BEIJING: China’s economy likely grew at record pace of 19% in the first quarter, rebounding from a pandemic slump early last year as demand recovered at home and abroad and as policy support for ailing smaller firms continued, a Reuters poll showe
MACAU (Bloomberg): Macau has moved a step closer to the potential introduction of a digital currency as it seeks to better combat money laundering and tax evasion in the world’s biggest gambling hub.
The full implications of Beijing’s rapid-fire moves against Jack Ma’s Internet empire in recent days won’t be apparent for weeks, but one lesson is already clear: The glory days for China’s technology giants are over.
BEIJING: Chinese authorities plan to turn Ant Group into a financial holding company whose financial activities are put under stricter regulatory supervision in a move related to a month-long antitrust probe.
Regulators have instructed Ant Group to form a financial holding company under their supervision as well as shrink its money market fund Yu’ebao. The revamp sets the clock ticking again on Ant Group’s countdown to IPO.
China to ensure fund injections for major tech innovations
BEIJING: China is expected to maintain a neutral monetary policy in the second quarter, as stronger investment will lead to a solid economic recovery, while there should be additional risk-control efforts, economists said.
China’s central bank asked the nation’s major lenders to curtail loan growth for the rest of this year after a surge in the first two months stoked bubble risks, according to people familiar with the matter.
Thailand's central bank will begin testing use of its retail digital currency for the general public in the second quarter of next year before fully implementing it over the next 3-5 years, an assistant governor has announced.