China’s Giant Ride-Hailing Service Didi to Pilot the Central Bank’s Digital Yuan

The Chinese government and the country’s central bank, the People’s Bank of China (PBoC), are currently in the midst of testing a digital yuan or central bank digital currency (CBDC). … Read More

Escalating Bank Runs Spur Chinese Government to Require Approval for Large Cash Transactions

A series of bank runs has prompted the Chinese government to begin requiring approval for large cash deposits and withdrawals at commercial banks, starting with banks in a northern province. … Read More