Page 25 - Wang Su News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Beijing will hand out 40 million yuan (about 6.27 million U.S. dollars) in digital currency to consumers in the city through a lottery system, the Beijing Local Financial Supervision and Administration Bureau announced.   A total of 200,000 digital red envelopes, each containing 200 yuan of digital currency, will be given to lottery winners in the digital renminbi (RMB) pilot program, said the bureau.   Individual consumers in Beijing can sign up for the lottery through the mobile applications of Bank of China and Industrial and Commercial Bank of China between June 5 and 7.   Lottery winn...

China's Ministry of Culture and Tourism on Wednesday released the 14th five-year plan for the development of various sectors, laying out the overall requirements, development goals, major tasks and measures for the 2021-2025 period.   The plan sets out the major tasks of developing culture and tourism, including advancing social civility, establishing artistic creation systems for a new era, improving the protection, inheritance and utility of cultural heritage, and enhancing the modern tourism system.   "Efforts will be made to provide higher-quality and efficient public cultural services ...

The People's Bank of China, the central bank, has urged commercial banks to abandon the London Interbank Offered Rate for dollar-denominated loans having a floating-rate benchmark.   The PBOC has also asked the banks to complete the Libor transition as and when financial regulators in the United Kingdom abandon the benchmark. It has also allowed banks to shift from Libor into the Secured Overnight Refinancing Rate, or Sofr, a rate based on repo market transactions recommended by the Alternative Reference Rates Committee, a public-private body in the United States.   Libor is the most widely...

Screenshot taken on June 2, 2021 shows the online launch ceremony of Huawei's operating system HarmonyOS 2 for smartphones in Shenzhen, south China's Guangdong Province. (Xinhua/Li Sijia)     -- As a next-generation operating system for smart devices, HarmonyOS provides a common language for different kinds of devices to connect and collaborate, providing users with a more convenient, smooth, and secure experience.   -- Huawei expects the number of devices equipped with HarmonyOS to reach 300 million by the end of 2021.   Chinese telecom giant Huawei on Wednesday officially launched its o...

China has made a start in reversing excessive capital flows into the real estate market, with the top banking and insurance regulator's measures to rein in funneling of business loans into property financing bearing fruit.   "Property lending portfolio of lenders increased by 10.5 percent on a yearly basis by the end of April, with the growth rate hitting an eight-year low," said Liang Tao, vice-chairman of the China Banking and Insurance Regulatory Commission, at a news conference on Tuesday.   The country's top banking and insurance regulator, together with the Ministry of Housing and Urb...