China Central Bank Official Says Bankruptcy May Benefit the Country

December 26, 2017

A Chinese central bank official said China should allow local governments to go bankrupt to help rein in regional authorities’ excessive borrowing. A case like the bankruptcy of Detroit would convince investors that the central government is really determined to dispel beliefs of an implicit guarantee for regional authorities, Xu Zhong, head of research bureau at the People’s Bank of China, wrote in an article in the China Business News Monday….

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China’s biggest tech CEO makes a grand entrance at a stadiumas Michael Jackson

You probably wouldn’t see Tim Cook doing this anytime soon. Jack Ma, Alibaba CEO and Asia’s richest man, turned up at his company’s 18th anniversary birthday bash dressed as Michael Jackson. SEE ALSO: The guy who started DJI becomes Asia’s youngest tech billionaire He first rode onstage in a black motorcycle, before getting off and striking a number of poses, in a black and gold outfit similar to Jackson’s iconic…

September 19, 2017
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China prepares to say goodbye to petrol and diesel cars for good

Expect more of these on China's roads.Image: Xinhua News Agency/Getty Images China is looking to fully ban gasoline cars down the road. The surprising announcement was made at an automotive industry forum over the weekend. Xin Guobin, deputy minister of industry and IT, said the ministry has started planning out a timeline for the end of petrol and diesel cars, and light commercial vehicles. SEE ALSO: Tesla’s most expensive cars…

September 15, 2017
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China has banned ICOs

Image: Shutterstock The ICO — Initial Coin Offering — has recently become a very popular way to fund a startup, as it adheres to few rules requiring little to no regulative oversight. Companies such as Tezos and Bancor raised hundreds of millions of dollars within days by letting investors purchase their newly created cryptocurrencies (also known as tokens) with Ethereum or Bitcoin.  But now, this wild, wild west of fundraising…

September 6, 2017
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Apple issues statement regarding removal of unlicensed VPN apps in China

Apple has issued a statement regarding last nights removal of most major VPN apps from the App Store in China. Unsurprisingly, Apple says that it is complying with regulations put in place by the Ministry of Industry and Information Technology earlier this year that require VPN apps to be licensed by the government. VPN apps and services currently represent one of the only ways that a person living in China…

July 31, 2017
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