Shenzhen’s cross-border yuan payments rose 46 per cent to 2.5 trillion yuan (US$386 billion) last year, a positive sign for China in its global currency push.

A study found that the rate of small business closures in China last year almost tripled to 18.5 per cent compared to a year earlier in the aftermath of the coronavirus outbreak.

China’s Premier Li Keqiang will deliver the annual government work report to nearly 3,000 delegates of the National People’s Congress as part of the ‘two sessions’ in Beijing on Friday.

Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, says it is ‘inevitable’ the number of bad loans will rise this year due to the pandemic.

Bitcoin mining requires huge amounts of computing power and uses large amounts of energy, but China has pledged to achieve carbon neutrality in 2060.

Scaling back economic stimulus would align with Beijing’s call for balancing development and security, with efforts focused on curbing “grey rhino” risks that could threaten China’s financial system.

The State Administration of Foreign Exchange says legislation ‘must avoid US-style financial unilateralism’, embrace multilateral cooperation and focus on Chinese firms overseas.

More than 30 Chinese citizens test positive for pathogen during medical assessments for overseas travel.

Strong outflow of capital driven by China’s strong post-coronavirus recovery and greater financial opening up.

China is poised to withdraw its 9 trillion yuan (US$1.4 trillion) stimulus rolled out last year to fight the coronavirus and help affected businesses.

China plans to modernise its manufacturing sector to ensure its global competitiveness with advancements in 5G, cloud computing and the internet of things.

Former US Federal Reserve chair Janet Yellen was sworn in as the new treasury secretary for the Biden administration at a time of appreciation pressure on the value of China’s yuan.

Merger will establish a ‘first-class urban commercial bank’ that absorbs the dozen existing local banks on ‘market-oriented’ and ‘law-based’ principles, according to China’s central bank.

The People’s Bank of China (PBOC) offered a far lower amount of new liquidity on Tuesday, raising speculation that it may have a reduction of coronavirus stimulus given forecasts for strong economic growth.

Comprehensive Agreement on Investment has been hailed as a breakthrough in the China-EU relationship, which has been fraught with trade disputes.

Alleviating hardships facing SMEs is now higher on the central government’s agenda, largely due to risks posed to social instability and China’s future development.

Analysts believe a pragmatic and rule-respecting Biden administration will soon resume contact with Beijing and eventually bring the United States back to the negotiating table.

Xi Jinping is expected to emphasise China’s success in combating the coronavirus and call for international cooperation on the pandemic and climate change.

China’s gross domestic product (GDP) is expected to have grown by 2.1 per cent in 2020, the lowest growth rate in 44 years, due to the impact of the coronavirus.

Despite calls from some officials and analysts for a continued accommodative monetary stance to aid economic recovery, the central bank’s decision follows Beijing’s orders to stabilise the nation’s rising debt level.

China’s new regulations are widely seen as a response to escalating tensions with the US, which has targeted Chinese businesses like Huawei with trade action.

China’s railway investment is expected to fall this year as the government focuses on employment, education, social welfare and public health following the coronavirus pandemic.

Comments by State Administration of Foreign Exchange (SAFE), which manages the bulk of China’s forex assets, likely reflect Beijing’s rising concerns about international uncertainties, according to analysts.

Fresh comments by People’s Bank of China are the latest example of how Beijing’s increasing focus on financial security is reshaping the world’s second-largest economy and second-largest capital market.

Changes announced by China’s central bank this week indicate a pivot in the government’s attitude towards outflows, at least in part, due to the yuan’s sharp rise since May.

Chinese officials say state-owned firms must step up in nation’s push to become more self-reliant amid external pressures, while vowing to promote competition neutrality for state, private and foreign investors.

China will seek to capitalise on continued strong overseas demand for the yuan by loosening the rules on its international usage in February.

Boosting rural incomes and improving efficiency in the agricultural sector will be priorities for China next year, Xi Jinping says.

China Baowu Steel Group became the world’s largest steelmaker last week, highlighting Beijing’s goal of creating a ‘national team’ of globally competitive state-owned enterprises.

The shroud over peer-to-peer lending firms has fallen, and China’s banking regulator says all such platforms across the country have ceased operations – but countless billions are already feared lost.