Podcasts about china merchants bank

China is optimizing the framework for helping companies go abroad, shifting toward a more sophisticated, service-oriented support system aimed at facilitating their high-quality overseas expansion and enhancing global supply chain stability, officials said.中国正在优化企业走出去的扶持框架，转向更精细化、服务化的支持体系，旨在促进企业高质量海外拓展，增强全球供应链稳定性。The updated framework was outlined by the Investment Promotion Agency of the Ministry of Commerce on Monday, as the agency moves to professionalize the support mechanisms for enterprises going global, placing greater emphasis on resilience, compliance, and industrial integration rather than simple scale expansion.商务部投资促进局周一公布了更新后的框架，旨在推动企业走出去支持机制的专业化建设，更注重韧性、合规和产业融合，而非单纯追求规模扩张。The shift comes as China's outbound direct investment has seen a steady rise. According to data from the Ministry of Commerce, China's total outbound direct investment increased 6.9 percent year-on-year to $158.21 billion in the first 11 months of 2025, cementing its position as the world's leading source of outbound investment.此项调整正值中国对外直接投资持续攀升之际。据商务部数据显示，2025年前11个月中国对外直接投资总额达1582.1亿美元，同比增长6.9%，巩固了其作为全球最大对外投资来源国的地位。During the same period, Chinese companies made nonfinancial direct investments in 10,165 overseas businesses in 153 countries and regions, with total investment reaching $132.09 billion, up 2.7 percent year-on-year, the data showed.同期，中国企业对153个国家和地区的10,165家境外企业实施了非金融类直接投资，投资总额达1,320.9亿美元，同比增长2.7%。Yu Zirong, deputy director of the Investment Promotion Agency, said that amid new global developments, the agency will strengthen cross-border investment service platforms to provide end-to-end, targeted and efficient support for companies going global.商务部投资促进事务局副局长俞子荣表示，在全球新形势下，该局将强化跨境投资服务平台，为企业走出去提供全流程、精准高效的支持。By innovating and improving full-chain services for outbound investment, Yu said, the agency aims to encourage upstream and downstream firms to expand overseas together, supporting the orderly cross-border deployment of industrial and supply chains.俞子荣指出，通过创新完善对外投资全链条服务，旨在鼓励上下游企业共同拓展海外市场，支持产业和供应链有序跨境布局。As part of this effort, the agency has introduced a "five-sphere" service matrix, designed to act as a comprehensive navigator for outbound businesses. The framework covers brand cultivation to enhance corporate identity, platform support to aggregate resources, and project-level services that provide lifecycle assistance.作为该计划的重要组成部分，商务部投资促进事务局推出了“五维”服务矩阵，旨在为对外经营企业提供全方位导航服务。该框架涵盖品牌培育以强化企业形象、平台支持以整合资源，以及提供全周期服务的项目级支持。Additionally, the strategy prioritizes "park empowerment" to upgrade overseas industrial cooperation zones and the establishment of long-term mechanisms to ensure sustainable dialogue and support.此外，该战略优先推进“园区赋能”，升级海外产业合作园区，并建立长期机制以确保可持续的对话与支持。The ultimate goal for 2026, the agency said, is to assist "chain-master" enterprises—leading firms that anchor supply chains—in coordinating efficiently with upstream and downstream partners, fostering self-sustaining industrial ecosystems abroad.商务部投资促进事务局表示，2026年的终极目标是协助“链主企业”——即锚定供应链的龙头企业——高效协调上下游合作伙伴，在海外培育自我维持的产业生态系统。The emphasis on higher-quality outbound direct investment reflects China's long-term trajectory. According to the 2024 statistical bulletin of outward foreign direct investment, China has ranked among the world's top three sources of ODI for 13 consecutive years, underscoring its position as a major global investor.中国对外直接投资质量提升的趋势，彰显着其长远发展轨迹。根据《2024年对外直接投资统计公报》，中国已连续13年位居全球三大对外直接投资来源国之列，彰显其作为全球重要投资者的地位。By the end of 2024, Chinese investors had established around 52,000 overseas enterprises across 190 countries and regions, with 70 percent of them reporting profits or break-even performance.截至2024年底，中国投资者已在190个国家和地区设立约5.2万家境外企业，其中70%实现盈利或持平。In 2024, China's outward FDI spanned 18 industry sectors, with investments in five sectors, namely wholesale and retail, leasing and business services, manufacturing, finance, and mining; each exceeded $10 billion and collectively accounted for over 80 percent of the total. Investment in the construction sector and the information transmission/software and IT services sector recorded substantial growth, rising 80.5 percent and 205.5 percent year-on-year, respectively.2024年中国对外投资覆盖18个行业领域，其中批发零售、租赁和商业服务、制造业、金融业、采矿业五大行业投资额均突破100亿美元，合计占比超八成。其中，建筑业和信息传输、计算机及互联网服务业投资增幅显著，同比分别增长80.5%和205.5%。A significant evolution in the 2026 strategy is the expanded role of professional services as "soft infrastructure" for outbound firms. The reliance on capital alone is being replaced by a holistic support network comprising legal, financial, and digital services, reflecting China's ongoing reforms to improve the public service system for companies "going global" and to strengthen support for high-quality international cooperation.2026战略的一项重大演进，是专业服务作为对外企业“软基础设施”作用的扩展。单纯依赖资本的模式正被法律、金融和数字服务构成的整体支持网络所取代，这反映了中国持续推进改革，旨在完善企业“走出去”的公共服务体系，并加强高质量国际合作的支持力度。The Hong Kong Special Administrative Region is also strengthening its role as a "super-connector". Wang Qing from Invest Hong Kong revealed that the city's 2025 policy address announced the establishment of a specialized outbound team to help Chinese mainland firms navigate complex legal and financial landscapes.香港特别行政区正强化其“超级枢纽”功能。香港投资推广署王青透露，香港2025年施政报告宣布成立专业对外团队，协助内地企业应对复杂的法律金融环境。On the mainland, technology and finance are being further integrated into the outbound support system. The Shanghai CIPA Overseas Service Platform has introduced "AURA", an AI-driven agent designed to digitize global resource matching, helping reduce information asymmetry that often plagues manufacturing firms.在内地，科技与金融正进一步融入对外支持体系。上海CIPA海外服务平台推出人工智能驱动的智能助手“AURA”，旨在实现全球资源匹配的数字化，帮助制造企业减少信息不对称问题。Financial institutions are also stepping up support. Banks like China Merchants Bank are rolling out cross-border financial systems capable of handling complex financing in 140 currencies, addressing the liquidity and financing challenges commonly faced by overseas subsidiaries, particularly in emerging markets.金融机构也在加大力度提供支持。招商银行等银行正推出跨境金融系统，能够处理140种货币的复杂融资业务，解决海外子公司（尤其在新兴市场）普遍面临的流动性与融资难题。

No surprise to me that there's a glut of apartments on the market  I saw the potential for this oversupply happening in San Diego a couple of years ago. It seemed anywhere you drove within a short distance you would see the construction of new apartment buildings. It is not just here in San Diego though as the glut of apartments is happening around the country. With the dynamics of supply and demand, if you're looking for an apartment today, you're in for a treat. In September rental rates had the steepest drop in more than 15 years. Landlords are now offering months of free rent, gift cards, free parking and some are even paying for your moving expenses just to get you to sign a lease. You may want to play hardball because in some areas they'll even cut the rent on top of all those incentives. In September, 37% of rentals agreed to concessions like months of free rent. What caused the problem for landlords is during the early years of the pandemic, developers could not begin building apartments fast enough, especially in the Sunbelt area where there was a major population migration. It became the biggest apartment construction boom in 40 years, but because of the delay of construction permits and labor shortages, development took much longer than they had hoped. It seemed no one looked around to see all the apartments going up, and now they're all competing with each other for renters. The landlords are hoping they can raise rents by the end of 2026 or at least sometime in 2027, but I don't think they are factoring in how many apartments are online with more still to come. Based on the current apartment inventory and new apartments coming online, renters could be in for lower rent maybe perhaps until 2028. This will not be good for the housing market because rent for houses will be the next to fall and then people will have to factor in the affordability of renting vs buying a home. This would also likely hurt the demand for buying rental properties as an investment if you can't get as much rent as you thought.    Are the large hyperscale companies like Meta, Microsoft, and Alphabet inflating earnings?  Michael Burry, who was made famous by "The Big Short", made the claim that some of America's largest tech companies are using aggressive accounting to pad their profits. He believes they are understating depreciation expenses by estimating that chips will have a longer life cycle than is realistic. Investors are likely aware of the huge investment these companies are making in AI, but they likely don't understand how the accounting of the investments work. If a business makes an investment in these semiconductors/servers of let's say $100 B, that doesn't hit earnings when the money is spent as under generally accepted accounting principles, or GAAP, they are instead able to spread out the cost of that asset as a yearly expense that is based on the company's estimate of how rapidly that asset depreciates in value. From what I've seen, these companies are generally depreciating their Nvidia chips for over 5 to 6 years. This seems to be a stretch considering Nvidia is on a 1-year chip production cycle, and the technology is changing quite rapidly. Burry estimated that from 2026 through 2028, the accounting maneuver would understate depreciation by about $176 billion and if Burry is correct, hyperscale's will have to write off AI capex as a bad investment, due to depreciation-useful life mismatch. This would then produce a major hit on earnings. While I remain a believer that AI is here to stay, I do believe there will be some big-time losers in this space given all the money that is being spent. Be careful chasing the hype as I do worry the fallout for some of these companies could be larger than many things possible. Burry has also warned this year that AI enthusiasm resembles the late-1990s tech bubble and recently disclosed put options betting against Nvidia and Palantir. He also stated that "more detail" was coming November 25th, and that readers should "stay tuned." I know I'm definitely curious what other information he has!    China is no longer just manufacturing; they are also beginning to innovate.  For many years innovation was generally done here in the US, and we would have the products manufactured in China. China is no longer happy with this arrangement, and its research and development spending is up nearly 9% a year well above the 1.7% here in United States. In 2024, China filed 70,160 international patents which was about 16,000 more than the 54,087 patents the US filed. China also seems to be more advanced in robotics installing 300,000 industrial robots in 2024 compared with roughly 30,000 industrial robots in the US. It also has been noted that when it comes to worldwide sales of electric vehicles, 66% came from China. While these developments seem positive for China, the country is still experiencing problems with a slowing economy as they have seen fixed asset investment decline and a slowdown in retail sales. The population of China has also declined over the last three years, and the real estate market after four years has really taken away a lot of household wealth. China's public and private debt continue to climb rapidly, which is becoming a problem for them as well. It is estimated that China is spending around $85-$95 billion on AI capital spending yet their economy is struggling as noted by the China Merchants Bank which talked about a 11% decline in consumption among customers and retail loans are now under pressure. China's exports to the US are down 27% because of the tariffs, but worldwide their exports are up 8%. It was recently reported that Beijing banned foreign AI chips from Nvidia, Advanced Micro Devices and Intel from government funding data center buildouts. Currently, China cannot pass the US and its allies in producing the most advance semiconductors, but they're making very good progress in developing mid-level chips and parts of the AI ecosystem. The US must continue to forge ahead because if we rest, China will be the world dominant power    Financial Planning: 50-year Mortgage: Helpful or Hurtful? A 50-year mortgage is being discussed as a way to reduce monthly payments and help with affordability, offering borrowers slightly lower costs that could help them qualify for homes otherwise out of reach. Critics argue that these loans would saddle buyers with far more interest paid to banks and that many borrowers would never pay off such a long mortgage, but those arguments often miss the bigger picture. Paying a low rate of interest to a bank is not inherently bad if it allows someone to invest money elsewhere at higher returns, just as today's homeowners with 30-year mortgages at 2% benefit greatly from not paying them off early. Also, most mortgages today are never fully paid off anyway because homes are sold, or loans are refinanced long before they reach maturity. A 50-year loan would be no different, especially since borrowers could always pay more than the minimum if they wanted to accelerate payoff. In practice, savvy investors would likely use the freed-up cash flow from 50-year mortgages to invest in higher-return opportunities, but most borrowers probably wouldn't resulting in slower wealth accumulation for the masses without addressing the root cause of housing affordability. If used correctly, this loan could be a useful tool, but I fear the overall impact could be damaging.     Companies Discussed:  Axon Enterprise (AXON), Zoetis Inc. (ZTS), Elf Beauty Inc. (ELF),Sweetgreen Inc. (SG)  

A girlfriend using a PPT reported her boyfriend, an employee of China Merchants Bank, for repeated infidelity. She wanted him to face consequences like losing his job. The two speakers supported her as the boyfriend's behavior was unacceptable considering his job.Join other motivated learners on your Chinese learning journey with maayot. Receive a daily Chinese reading in Mandarin Chinese, for your level. Full text in Chinese, daily quiz to test your understanding, one-click dictionary, new words, and more.Join other learners at https://www.maayot.com

EV-maker Zeekr is planning a U.S. IPO, China Merchants Bank's ex-president admits to taking bribes, and Country Garden suffers plunging sales.    Subscribe to a bundle deal now to unlock all coverage by Caixin Global and The Wall Street Journal for only $250 a year. It's a 60% discount.   Group access and applicable discounts are available. Contact us for a customized plan.

Find out more about this event on our website: https://bit.ly/3HJ0lmF This webinar looks at everything from how banking plays a role in the climate emergency through to the FinTech world using technology to overcome issues of inequality and inclusion. The themes of Mr Skinner's new book 'Digital for Good' include questioning the purpose of banking, and whether it is socially useful; how purpose can impact a bank's role in the climate emergency; the way in which we can use finance to do good for society and the planet; the latest developments in cryptocurrencies; and more. Speaker: Chris Skinner is known as one of the most influential people in technology and a best-selling author. He is an independent commentator on the financial markets and fintech through his blog, the Finanser.com, which is updated daily. He helped to found one of the first mobile banks in the world, and has advised CEOs and leaders from every continent of the world including the United Nations, the White House, the World Bank and the World Economic Forum. His latest book (seventeenth!) is Digital for Good, focusing upon how technology and finance can work together to address the environmental and social issues we face today and make a better world. His previous books include Doing Digital, which shared the lessons of how to do digital transformation through interviews with leading global banks such as BBVA, China Merchants Bank, DBS, ING and JPMorgan Chase; Digital Human, which showed how digitalisation is a revolution that allows everyone from the plains of Africa to the mountains of Tibet to be included and served by the network; and Digital Bank that provides a comprehensive review and analysis of the battle for digital banking and strategies for companies to compete. Chris has recently been added to The Mad 33 List for Inspirational change and transformation leaders - making a difference - making the future a reality. He is a non-executive director of 11:FS and on the advisory boards of many FinTech and financial firms. Mr Skinner is a visiting lecturer with Cambridge University as well as a TEDx speaker. In recent years, he has been voted one of the UK's foremost fintech observers by The Telegraph and one of the most influential people in financial technology by the Wall Street Journal's Financial News and Thomson Reuters.

This week on the Caixin-Sinica Business Brief: China's property sales remain sluggish despite government efforts, Tencent wins new game license after 17-month drought, and Alibaba posts surprise loss amid crisis in consumer confidenceIn addition, Caixin Global finance reporter Yukun Zhang talks about the downfall of Tian Huiyu, the once high-0flying banker and former president of China Merchants Bank who has been investigated for corruption charges and expelled from the Communist Party.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

As digital transformation advancing rapidly across the globe, fintech has gained strong momentum as a disruptive innovation force in the past few years. Unlike in Europe and America, the development of fintech in emerging markets such as China, India and Southeast Asia shows distinctive characteristics, which has garnered increasing attention.One of the manifestations is the rising power of fintech institutions represented by banks.Globally, commercial banks have always been the major force to lead reformations in traditional financing activities. Though emerging economies are late-comers in financial industry, they are willing to commit to building up their digital power. Taking Chinese mainland as an example, a number of commercial banks with strong technology capabilities have successfully navigated their digital transformation, and exported their fintech capabilities through technical subsidiaries as part of the efforts to expand customer base and gain stronger business advantages in the new industry-finance cooperation ecology.Throughout the world, the fintech output and innovative cooperation mode adopted by commercial banks in emerging markets have been driving people to reflect on the definition of fintech.It is noteworthy that since 2022, CMBYC, a fintech subsidiary with banking background, has been frequently mentioned by many top Chinese and US media outlets, offering an interesting and thought-provoking case.CMBYC, headquartered in Shenzhen, China's financial center as well as science & technology innovation center, is a fintech subsidiary of the world-famous commercial bank, China Merchants Bank. In July 2022, the authoritative financial media The Banker released its Top 1000 World Banks by Tier 1 2022, in which China Merchants Bank ranked 11. This is the 5th year in a row that CMB had been listed in the top 20 in this ranking.As a unified platform to export China Merchants Bank's financial technology, CMBYC bridges up enterprises and financial institutions by means of scenarized finance through providing full digital solutions for capital and cash flow management. Its innovative ‘Industry-Finance Scenarized Connection' model redefines the relationship between financial institutions and companies, providing a new Chinese solution for global bankers to remove information asymmetry between enterprises and financial institutions and facilitate the precise connection between financial needs of enterprises and financial service supply of banks.Specifically, financial technology refers to technology-driven innovation in financing activities. Financial services involve both financial institutions and enterprises. In Europe and America, fintech is mainly applied by the service side of financial institutions such as insurance, payment, investment consultancy and banking services. Meanwhile, CMBYC enriched the connotation of financial technology, and innovatively applied fintech to capital flow management scenario of enterprises, instead of limited to financial institutions. In fact, enterprises need to engage with banks often when it comes to the internal capital flow scenarios such as settlement management, account management, investment and financing management, cost control and risk management. Besides, CMB has a profound tradition and deep accumulation in enterprise digital services. In 2017, CMB proposed to build a “fintech bank”, which made it one of the initiators of this strategy in the Chinese banking industry; early as in 2007, it launched CBS and other cloud-based treasury management products, earning recognition from many medium and large group enterprises in China. As a fintech subsidiary with banking background, when compared with general software companies, CMBYC has inherent strengths in carrying forward and leveraging advantages in both technology and finance.According to insiders of CMBYC, the company applied fin

Top prosecutor issues arrest warrant for ex-president of China Merchants Bank, Shanghai to build $220 million permanent Covid quarantine center Are you a big fan of our shows? Then please give our podcast account, China Business Insider, a 5-star rating on Spotify, Apple, or wherever you listen to podcasts

US equity futures are indicating a flat open as of 05:00 ET, after being slightly higher just before 04:30 ET. Asian markets mixed overnight with China trading lower again. European equity markets opened lower in a cautious trade on their first trading day this week. Companies mentioned: Zendesk, China Merchants Bank

Richard is joined by Edmund Harriss, Portfolio Manager of the Guinness Asian Equity Income Fund, to discuss discovering high-quality Asian companies, exposure to the financial and tech sectors and top holdings, including DBS Singapore and China Merchants Bank. Enjoyed listening? Please like and subscribe. Visit ii.co.uk/funds and ii.co.uk/stock-market-news for more investing insight and ideas. This material is intended for educational purposes only and is not investment research or a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy. The value of your investments can rise as well as fall, and you could get back less than you invested. The investments referred to may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. Past Performance is not a guide to future performance. Interactive Investor Services Limited is authorised and regulated by the Financial Conduct Authority.

Tsinghua Unigroup is forced into restructuring under China's bankruptcy law. The country extends the one-year takeover of nine Tomorrow Holding affiliates. The steel industry is preparing for the nation's carbon neutral goals. Plus, China Merchants Bank joins digital currency trials.

We catch up with Chris to discuss his latest thoughts on fintech, cryptos, NFTs, why we must do much more to look after the planet, and his latest literary ventures. Chris Skinner is known as one of the most influential people in technology, and as an independent commentator on fintech through his blog, the Finanser.com. His latest book (sixteenth!) is called Doing Digital, and shares the lessons of doing digital transformation learned through interviews with BBVA, China Merchants Bank, DBS, ING and JPMorgan Chase. He is Chair of Nordic Future Innovation, is a non-executive director of 11:FS and on the advisory boards of various firms including Mode, Moven and Meniga. Mr. Skinner has been an advisor to the United Nations, the White House, the World Bank and the World Economic Forum, and is a visiting lecturer with Cambridge University as well as a TEDx speaker. In recent years, he has been voted one of the UK's foremost fintech observers by The Telegraph and one of the most influential people in financial technology by the Wall Street Journal's Financial News and Thomson Reuters. Chris is also a successful children's author with a series, focused upon Captain Cake and the Candy Crew, being released in 2021 Captain Cake. He is also co-founder with renowned artist Basia Hamilton of The Portrait Foundation, Portrait Foundation, a non-profit platform to encourage children and the arts.

In Episode 75 Dexter Cousins is joined by Chris Skinner, author, commentator and (in his own words) "troublemaker"Chris Skinner is known as one of the most influential people in technology, and as an independent commentator on fintech through his blog, the Finanser.com. His latest book (sixteenth!) is called Doing Digital, and shares the lessons of doing digital transformation learned through interviews with BBVA, China Merchants Bank, DBS, ING and JPMorgan Chase. He chairs the Financial Services Club and Nordic Future Innovation, is a non-executive director of 11:FS and on the advisory boards of various firms including Mode, Moven and Meniga. Mr. Skinner has been an advisor to the United Nations, the White House, the World Bank and the World Economic Forum, and is a visiting lecturer with Cambridge University as well as a TEDx speaker. In recent years, he has been voted one of the UK’s foremost fintech observers by The Telegraph and one of the most influential people in financial technology by the Wall Street Journal’s Financial News and Thomson Reuters. He is also co-founder with renowned artist Basia Hamilton of The Portrait Foundation, http://portraitfoundation.com/, a non-profit platform to encourage children and the arts.Find out more about The Finanser Follow Chris on LinkedinLaunch, Scale, Innovate Leaders in Fintech Executive Search and RecruitmentJob Of The Week Be at the forefront of digital banking innovationDo you like the show? Please leave us a review

Carrefour China plans to seek a potential IPO. China's central bank governor warns that climate change poses new challenges to financial stability. The bank's digital currency will offer greatest privacy protection, an official says. JPMorgan invests in China Merchants Bank's wealth management arm. New discoveries from Sanxingdui. Plus, China administers nearly 75 million doses of Covid-19 vaccine.

Diplômée de lʹUniversité des langues étrangères de Pékin et de lʹInstitut universitaire de hautes études internationales à Genève, Yan Lan est aussi avocate. En 1991 elle rejoint le cabinet dʹavocats Gide Loyrette Nouel et devient associée. En 1998 elle dirige le bureau de représentation à Pékin et en 2011, elle est nommée Directrice générale de la banque dʹinvestissement Great China de Lazard à Pékin. Elle est également arbitre de la Commission dʹarbitrage économique et commerciale internationale de Chine, Conseiller du Commerce Extérieur de la France, administratrice indépendante de la China Merchants Bank, vice-présidente du Forum des femmes dans lʹéconomie et la société (Asie), présidente du Comité consultatif pour la Fête de la Musique internationale de Pékin et présidente de la "China Heritage Society". En 2012, lʹAmbassadeur de France en Chine lui remit lʹinsigne de Chevalier de lʹOrdre national de la Légion dʹhonneur. Elle est aujourdʹhui lʹinvitée de Mélanie Croubalian.

The People's Bank of China is poised to become the first major central bank to issue a digital version of its currency, the yuan, seeking to keep up with -- and control of -- a rapidly digitizing economy. PBoC's official website, the word “Bitcoin” is not mentioned even once, although China is one of the top players in the crypto industry. The principles and technologies on the basis of which it is planned to create a state digital currency are also not explained. Unlike cryptocurrencies such as Bitcoin, though, dealing in the digital yuan won't have any presumption of total anonymity, and its value will be as stable as the physical yuan.The What…The People's Bank of China (PBoC) has spoken about its commitment towards creating a digital version of the yuan.According to the People's Bank of China's (PBoC) deputy director Mu Changchun, head of the institution's digital currency research institute, it will provide no scope for speculating on its value and it will not have the backing of a basket of currencies.Mu recently  said that China's new national digital currency would operate on a two-tier system, with the PBoC on top, and commercial banks allowed on the second tier of the centralized system.Mu made it clear that China is not launching a war on cash by introducing its own digital currency. Rather, Beijing intends for the new currency to complement the paper yuan.The How…In 2013 China invoked a prohibition of financial institutions from handling bitcoin transactions.In 2014 China creates a special group for cryptocurrency research.In 2015 China begins active studying of cryptocurrency-related regulatory experience from other countries.In 2016 China first official announcement that it will create a national cryptocurrency.In 2017 China creates a research institute setup to further facilitate the development of its national cryptocurrency. They also ban local cryptocurrency exchanges.In 2019 PBoC moves forward with the creation of its national cryptocurrency on the heels of Libra, currency wars, trading disagreements with U.S. sanctions.In 2020 - March The Bank of China was alleged to have completed the development of the currency's basic functions and to have already moved on to drafting laws for its implementation. Screenshots of a purported pilot version of a wallet app for China's forthcoming digital yuan are circulating on social media. According to Ling Zhang, the app is available for download in four cities selected for the initial trial — Shenzhen, Chengdu, Suzhou and Xiongan. She highlights the inclusion of Xiongan, a new metropolis located on the outskirts of Beijing, which has been the site of a so-dubbed “smart city brain project.” The Xiongan New Area will have enhanced intelligent infrastructure that spans satellite information services, sensor recognition, a 5G network, super-computing and big data facilities. The city has already attracted the country's tech giants Tencent, Alibaba, JD.com and Baidu, with President Xi Jinping visiting on more than one occasion. PBoC digital currency is likely to be tested in these four regions that these locations were likely chosen because they are considered “tier 1 or 2” cities and “are home to tech talent,” especially Shenzhen, deemed the Silicon Valley of China.BIS Bulletins are written by staff members of the Bank for International Settlements, and from time to time by other economists, and are published by the Bank. The papers are on subjects of topical interest and are technical in character. The views expressed in them are those of their authors and not necessarily the views of the BIS.In 2020 - April China appears to have been accelerating the development of the digital yuan, according to the BIS Bulletin (shown above) notwithstanding the COVID-19 crisis. China is reportedly working with private industry to accelerate the roll-out of its central bank-backed digital currency. According to several international reports several Chinese tech giants, including Alibaba, Tencent and Huawei, as well as China Merchants Bank, have been working with the People's Bank of China (PBoC) to issue an official digital yuan.Insiders tell the Global Times that Alipay, the financial arm of Chinese e-commerce and cloud computing giant Alibaba, has filed five patents from January through March that are linked to the development of China's digital yuan. Most transactions in China are already conducted digitally using WeChat pay or Alipay. Insiders say that the central bank is now drafting legislation for the roll-out following several patents covering a spate of technological challenges, including issuance, anonymous trading support, anti-money laundering, transaction history and digital wallets that will be used to store the currency.The PBoC has not yet issued an exact launch date for its digital yuan.In 2020 - May According to the official letter obtained by the reporter of Science and Technology Board Daily, Suzhou Xiangcheng District will be an important pilot area for the Digital Yuan. They are cooperating with the central bank and the four state-owned banks of China Construction Industry and Agriculture to promote the pilot work of its digital currency. The official letter requires that the enterprises and institutions and various management committees in each district of Xiangcheng District sign a digital currency distribution agreement with the wage distribution bank, install a digital wallet for all staff (except retirees), and include transportation subsidies in the monthly salary. The signing of this issuance agreement, and the installation of digital wallets will need to be complete by the end of May, and the completion of the issuance will occur in June. 50% will be issued through Digital Yuan. The dates for the tests or the actual launch have not been confirmed by the PBoC yet but there are chances it might occur during the Winter Olympics of 2022. China has reiterated that the blockchain tests will not have any impact on mainstream markets either.The Why…In July of 2019, Wang Xin, director of the PBoC Research Bureau, said that, with the development of the Libra cryptocurrency project, the People's Bank of China should accelerate the growth of its own digital currency, which it has been working on over the past few years. “If [Libra] is widely used for payments — cross-border payments in particular — would it be able to function like money and accordingly have a large influence on monetary policy, financial stability, and the international monetary system?”In particular, China is concerned about which currencies Libra will be tied to and what role the U.S. dollar will play in this project. Wang said:“If the digital currency is closely associated with the US dollar, it could create a scenario under which sovereign currencies would coexist with US dollar-centric digital currencies. But there would be in essence one boss, that is the US dollar and the United States. If so, it would bring a series of economic, financial and even international political consequences.”According to Chinese authorities they need to strengthen the national currency and consider the Hong Kong model to create a digital renminbi, which involves issuing money through commercial enterprises under the supervision of the central bank. As the virus has spread and citizens have been placed under lock down, paper notes have followed. Banknotes have been disinfected with ultraviolet light and high-temperature ovens in China, and placed in a 14 day quarantine period in places as far afield as Hungary and the U.S. If this trend continues and prompts widespread distaste for physical cash, the credit card industry is likely to benefit, along with payment firms like PayPal, and card-issuing banks. On the other hand, if authorities recognize the opportunity to seize tighter control over the economy, governments could be galvanized into releasing their own central bank digital currencies. This would enable a new era of economic experimentation as governments tighten the reins around currency more than ever before to drive through unpopular economic measures like quantitative easing and negative interest rates.The Master Plan for ChinaThe digital yuan can disrupt both traditional banking and the post-Bretton Woods system of floating exchange rates that the world has lived with since 1973. No wonder that for China, “blockchain and the yuan digital currency are a national strategic priority — almost at the level of the internet. It's no coincidence that China hastened its national cryptocurrency after Facebook Inc. announced the Libra project, which was touted as an alternative dollar.An inflection point for Bitcoin…will coincide with the release of the Digital Yuan. 

Serguei Netessine, Vice Dean for Global Initiatives and Professor of Operations, Information & Decisions at The Wharton School, speaks to Dan Loney about how he coordinated a donation of PPE from China Merchants Bank, how the United States should create a stockpile of protective equipment for future pandemics, and business innovation during COVID-19. See acast.com/privacy for privacy and opt-out information.

Acclaimed author Chris Skinner visits on FRT to discuss his latest book, Doing Digital, profiling the digitalization efforts, challenges and success stories of JP Morgan, BBVA, ING, DBS & China Merchants Bank.

Matt Myers is head of EarthxCapital. Matt is a climate trimtab and serial impact platform creator with a wealth of experience designing and driving strategic change within organizations and ecosystems to achieve large-scale, positive impacts on society and the environment. Matt is Founder and Director of the eCapital Summit, a platform convening private capital, cutting-edge environmental technology companies, ecosystem partners and government to form partnerships having substantial, positive impacts on people and the planet. Matt engages the federal government throughout the year and is Founder and Director of the Environmental Capital Task Force. Matt also advised the Inslee for America campaign on cleantech investment policy as well as several members of Congress on the IMPACT for Energy Act. Additionally, Matt founded EarthxHack, the world’s largest environmental innovation competition. Previously, Matt was a product manager overseeing the development of digital wealth management and e-commerce platforms for China Merchants Bank. Matt holds a Masters in Public Administration in International Development from Tsinghua University and is fluent in Mandarin. https://earthx.org/conference/e-capital-summit/ https://earthx.org/

Former Chairman of China Merchants Group and China Merchants Bank Qin Xiao presents his research on the new paradigm that the U.S.-China trade war represents and possible solutions to the conflict at the annual Forecast of China’s Economy for 2019, hosted by the National Committee on U.S.-China Relations and Peking University’s China Center for Economic Research, at the Citigroup Center on January 10, 2019. Qin Xiao, who received his Ph.D. in economics from Cambridge University, is a council member of the FSDC (Financial Services Development Council, HK) and guest professor at Tsinghua University and the Chinese University of Hong Kong. He served as chairman of China Merchants Group and China Merchants Bank; president and vice chairman of China International Trust and Investment Corporation (CITIC); and chairman of CITIC Industrial Bank. He was a deputy to the Ninth National People’s Congress, a member of the 10th and 11th Chinese People’s Political Consultative Conference, and an advisor on the Foreign Currency Policy of the State Administration of Foreign Exchange. He also served as chairman of APEC Business Advisory Council (ABAC) for 2001. His papers and books in economics, management, and social transformation have been published in China and abroad.

James quizzes Jame on how custody banks are using APIs to deliver information to buy-side clients, and Karen explains how China Merchants Bank is using blockchain for RMB-HKD payments.

How is Internet finance transforming China’s banking sector? Ma Weihua, Chairman of Wing Lung Bank and former President of China Merchants Bank, shares insights on Financial Innovation at CEIBS Master Class.

Douglas Flint (HSBC), Kris Gopalakrishnan (Infosys) & Ma Weihua (former Chairman of China Merchants Bank) speak on educating business leaders during CEIBS International Advisory Board meeting.