China will fully respect privacy and protect personal information in using the digital yuan, said Mu Changchun, director-general of the Digital Currency Research Institute of the People’s Bank of China (PBOC), at a forum on Sunday
China is planning to set up a real estate fund that could be worth up to 300 billion yuan ($44.39 billion) to support more than a dozen property developers, including embattled China Evergrande Group, financial information provider REDD reported on Monday, citing sources.
Chinese property developers’ US dollar bonds are surging as market sentiment improved after the Chinese government pledged to support healthy development of the real estate market.
Shares of Chinese producers of silicon materials used in solar panels are sliding across the board on news that the Chinese government plans to step in to curb surging silicon prices. Xinjiang Daqo New Energy is sliding nearly 8%, Wuxi Shangji Automation down 4.8%, Tongwei Co. Ltd down 3.7%.
Chinese mainland property developers stage a strong rally in Hong Kong after the top authorities vowed to promote healthy development of the real estate market.
China Feihe, the country’s dominant infant formula maker, said that the company is expected to record a profit of 2.2 – 2.5 billion yuan in the first half of the year, sliding by about 33.4% – 42.4% from the same period last year.
