Tag Archives: China

Taiwan competitors aim to capitalize on Bitcoin ban in China

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“In light of the digital currency’s fate in the mainland market, Wayi International Digital Entertainment (華義國際) stated its Wmall electronic commerce portal will fully support Bitcoin-denominated transactions beginning next year. According to the company, suppression of the digital currency in China will disperse shoppers toward Taiwan.   Wayi is also anticipating the multitudes of consumers holding Bitcoin in China, saying that they are expected to flock to its Wmall, based on proximity and the lack of language barrier in comparison to more international platforms.”

http://www.chinapost.com.tw/taiwan/china-taiwan-relations/2013/12/29/397038/Taiwan-competitors.htm

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Now China … Reasons for Printing Money Abound

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“The tightening talk we’re listening to is just for public consumption. The whole system of recovery is based on equity appreciation stimulating employment (which it does ineffectively at best). The big central banks around the world are all pumping money in unison. We will always be told that bankers are concernedly moderating money flows. But then, at the first sign of trouble, the taps are turned back on. In fact, they are never REALLY turned off. And there will always be a reason to push the volume of money even higher. They are planning a big Wall Street Party. The top men always seem to find reasons to print more. Until the world is swimming in currency.”

http://www.thedailybell.com/news-analysis/34866/Now-China–Reasons-for-Printing-Money-Abound/

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Peripheral bitcoin services like BitPay safer investment than bitcoin?

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“Asia’s richest businessman Li Ka-shing has invested in BitPay, the digital currency equivalent for PayPal, through his venture capital arm Horizons Ventures.  A spokeswoman for Horizons Ventures declined to comment on the details of the investment. Bitpay said it was ‘fortunate to have the benefit of many supportive investors, including Horizons Ventures.’  BitPay, founded in May 2011, currently handles transactions for 14,000 companies across 200 countries. About half of the transactions take place in the United States, 25 per cent are in Europe and 25 per cent in the rest of the world. Asia is among the top regions where BitPay is signing up new companies.”

http://www.scmp.com/business/banking-finance/article/1390224/peripheral-bitcoin-services-bitpay-safer-investment-bitcoin

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Wealthy Chinese gobbling up Silicon Valley homes

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“Ken DeLeon—named by The Wall Street Journal as the country’s most successful real estate agent—said he has done close to $300 million in sales this year and that the market has never been hotter.  DeLeon said that in the past year he has sold more than 20 luxury residences in the Palo Alto area to buyers from mainland China, Taiwan and Hong Kong. Most of those buyers are looking for houses in the $2 million-plus range, he said.   Business is so brisk that the agent recently bought a Mercedes bus to shuttle his Chinese customers around the valley.  They are serious buyers, he said; several have bought modest houses on a decent-sized lot, then undertaken ambitious renovations.”

http://www.cnbc.com/id/101168745

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China puts out yet another credit market fire with more liquidity

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“The People’s Bank of China announced that it had injected cash into the short-term credit markets. While the PBOC does that regularly—twice a week via its regular, publicly announced open market operations—the cash injection that it announced today was a different kind of mechanism known as a short-term liquidity operation or SLO. It directs the central bank’s money to 12 large Chinese banks seen as crucial to the stability of the system.  That the central bank has been so quick to try to ease stress in short-term markets indicates that policy makers are leery of repeating last-summer’s severe credit crunch.”

http://qz.com/160091/china-puts-out-yet-another-credit-market-fire-with-more-liquidity/

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China credit crisis fears as central bank injects funds

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“China’s central bank has rushed to pump money into the stalling banking system but markets across Asia still fell sharply amid fears that the world’s second-largest economy faces a credit crisis.  State media in China had reported that the PBOC has unexpectedly pumped $33bn (£20bn) into the domestic money market through what it refers to as ‘short-term liquidity operation’.  Fears over a looming Chinese debt crisis spurred by a poorly regulated and opaque financial system stoked fears over the summer that the Asian powerhouse could finally be on the brink of a sharp slowdown in growth.”

http://www.telegraph.co.uk/finance/china-business/10530153/China-credit-crisis-fears-as-central-bank-injects-funds.html

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Jim Rogers on Lucrative Investments Nobody Else Is Talking About

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“Everybody should have some of their money invested outside of their own country, outside of their own currency. No matter how positive things are in your home country, something could go wrong.  I do it because I think I can make some money finding opportunities outside your own country. Many people are a little reluctant, you know. It’s tough to leave your safe haven. So I try to explain to them, ‘Well, you have fire insurance, why don’t you look on investing abroad as another kind of insurance?’ and usually what happens is people invest more and more abroad because they say, ‘Oh, my gosh, look at these opportunities. Why didn’t somebody tell us there are all these things out there?'”

https://www.internationalman.com/78-global-perspectives/1063-jim-rogers-on-lucrative-investments-nobody-else-is-talking-about

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Chinese Bitcoin crackdown sparks revenge cyber-attack

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“China’s central bank is thought to have been targeted in a revenge cyber-attack by investors infuriated at government attempts to destroy the local Bitcoin market.  As the yuan-denominated value of Bitcoins collapsed today, the website and official, Twitter-style weibo account of the People’s Bank of China suffered a series of crashes believed to have been caused by hackers.  Although the attacks were not claimed by any group, they followed a decision by Beijing earlier this week that will effectively shut down Bitcoin trading on China’s online exchanges. Bitcoins have proved exceptionally popular in China.”

http://www.thetimes.co.uk/tto/business/industries/banking/article3952357.ece

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China’s Shadow Currency Addiction: ‘The Mother of All Bubbles’

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“The shadow currency in question comes in the form of bankers’ acceptance notes, or BANs, paper issued by banks that are, in some cases, as good as cash. BANs, which are essentially IOUs in the form of bank checks, are being used as a form of ‘wildcat’ currency to increasingly finance speculation as banks and corporations alike are running short of cash.  The issuance of BANs has more than doubled to 1.6 trillion yuan ($261 billion) from 636 billion yuan a year ago.  State-owned banks love them because stringent statutory requirements force them to maintain high loan-to-deposit ratios, but since BANs are recorded off the books, they can increase their leverage without appearing at risk.”

http://motherboard.vice.com/blog/chinas-shadow-currency-addiction-is-inflating-the-mother-of-all-bubbles

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No need to panic over China bitcoin clampdown: BTC China

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“Bobby Lee, CEO of BTC China, says there is no need to panic after Chinese authorities blocked the country’s Bitcoin exchanges from accepting new cash inflows.”

http://video.cnbc.com/gallery/?video=3000229171

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