SHANGHAI : China is using the digital yuan to stimulate consumption in its pandemic-hit economy, with more e-CNY applications expected in future to boost transparency and effectiveness of government policies.
China is at the fore of a global race to develop central bank digital currencies. Issuing e-CNY subsidies can both aid consumption and further promote use of the electronic yuan. "Previously, when the government issued subsidies, there could be certain obstacles before the money reaches the recipients," said G. Bin Zhao, senior economist at PwC China.Zhao added that in the future, the government can use e-CNY for pension payments, fiscal subsidies and even infrastructure spending.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HK Star Eric Suen, 49, Went To Shanghai For A Shoot In 2020, Ended Up Getting Stuck In China For 2 YearsThe '90s pop idol finally returned to Hongkong this week.
Source: TODAYonline - 🏆 1. / 99 Read more »
UN rights envoy defends controversial China visitBEIJING: The UN rights envoy on Saturday (May 28) said her contentious visit to China was \u0022not an investigation\u0022, and insisted she had unsupervised access during meetings in Xinjiang, where Beijing is accused of widespread human rights abuses. Michelle Bachelet\u0027s long-planned trip this week has taken Of course, no ones in the West need to knows the truth... They just prefer to speculate and accuse...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
McDonald's China unveils chocolate mochi burger, prawn and pineapple burger for Children's DayMcDonald’s China introduced space-exploration-themed food to their menu to celebrate Children’s Day. International Children’s Day is a worldwide holiday declared by the United Nations to protect children’s rights and to honor the children who were killed by Nazis during World War II. The Shanghai China Salesian Society established Children’s Day in China in 1932 and have since been giving children under the age of 14 a day off from school to enjoy their childhood every June 1. Not only can children spend time with their family or go to Children’s Day events, they are also free to enjoy their favorite foods or try new ones, like the creative new menu inspired by the child-like wonder of space exploration.
Source: YahooSG - 🏆 3. / 71 Read more »
China to launch new rules for multi-channel network industryBEIJING : China will implement new rules for the multi-channel network industry from June 30, the National Radio and Television Administration said on its website on Monday.The broadcasting regulator said firms in the industry need to obtain licenses to operate, follow rules on the content they publish
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
China prepares final missions to complete its own space station
Source: STForeignDesk - 🏆 4. / 71 Read more »
China Covid-19 outbreak wanes, with curbs eased to boost economy
Source: STForeignDesk - 🏆 4. / 71 Read more »