Trump Treasury Nominee Scott Bessent Rejects U.S. Central Bank Digital Currency, Citing Privacy and Economic Concerns
Scott Bessent, President-elect Donald Trump’s nominee for Treasury secretary, testified before the Senate Finance Committee ...
Asia Society6d
Petrodollar to Digital Yuan
Its digital yuan and the Multiple Central Bank Digital Currency Bridge (mBridge) platform represent significant technological advances that could accelerate change by offering more efficient ...
scmp.com5d
China’s yuan on the rise in oil trade, but petrodollar here to stay: report
The expansion of China’s digital yuan and financial technology are helping to boost yuan settlements in the crude trade and hastening the decline of the petrodollar, a report from a ...
中国日报网6d
Beijing's digital economy hit 2t yuan in 2024
BEIJING -- The added value of Beijing's digital economy totaled 2 trillion yuan ($278 billion) in 2024, up about 7.5 percent ...
cryptonews5d
Trump’s Treasury Pick Scott Bessent Rejects Need for a US Digital Dollar
Trump's Treasury pick Scott Bessent argued against a US digital dollar, saying CBDCs suit countries lacking other investment ...
China rolls out digital product subsidies, making iPhones and other smartphones super affordable
China's new subsidy plan offers 15% off digital products under 6,000 yuan, cutting iPhone 16 prices to 4,499 yuan, boosting ...
China expands consumer trade-in scheme to revive economic growth
China added more home appliances to the list of products that can be used in its consumer trade-in scheme and will offer subsidies for additional digital goods this year, in an effort to revive demand ...
China includes smartphones in digital product purchase subsidy plan, sparking enthusiasm for consumption
Starting on Monday, a subsidy plan for purchasing new mobile phones and other digital products will be implemented nationwide ...