China is close to launching its own digital currency, a central bank official said over the weekend. Photo: Reuters

China close to launching cryptocurrency, says central bank, amid pressure from Facebook’s Libra

  • Mu Changchun, deputy director for payments at the People’s Bank of China, confirmed cryptocurrency is ‘close to being out’
  • Central banks around the world have had to speed up their digital currency plans due to the potential impact from Facebook’s Libra
Topic |   China economy

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China is close to launching its own digital currency, a central bank official said over the weekend. Photo: Reuters
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Incentives for Chinese car buyers were welcomed by the industry, but a report suggests sales have lost momentum. Photo: AFP

China’s consumer spending expected to weaken further this year as result of escalating US trade war tensions

  • Job and income growth uncertainty means consumers remain cautious about spending
  • Retail sales growth for July predicted to slow as effect of cars sales incentives wear off
Topic |   China economy

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Incentives for Chinese car buyers were welcomed by the industry, but a report suggests sales have lost momentum. Photo: AFP
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