NEW YORK, Aug. 8 (Xinhua) — U.S. consumer debt grew 17.9 billion U.S. dollars from May to June, as a credit crunch brought on by Federal Reserve rate hikes drove a sharp gain in the amount of outstan
Tag: payments
Foreign firms satisfied with China\’s business environment: survey
BEIJING, July 28 (Xinhua) — The vast majority of foreign-funded companies operating in China are satisfied with the country\’s favorable business environment and confident about the Chinese market, ac
Luxury giant says Chinese market makes up for U.S. downturn
BEIJING, July 27 (Xinhua) — LVMH, the world\’s leading luxury products group, has said that while the recovery of the Chinese sales market has helped business remain steady, the U.S. luxury market has
China\’s private sector benefits most from tax relief: official
BEIJING, May 26 (Xinhua) — Taxpayers from China\’s private sector have benefited the most from the country\’s tax and fee relief measures.
Over 339.3 billion yuan (about 47.95 billion U.S. dollars) of
Authorities warn public against AI fraud
Public security departments in multiple cities have recently urged people to be more vigilant after several cases of AI fraud, in which artificial intelligence tools were used to mimic people\’s voices
RMB\’s global payment share up in March
BEIJING, April 23 (Xinhua) — The Chinese currency renminbi (RMB), or the yuan, saw its share in global payments rise in March, a report has said.
The RMB\’s global share was up from 2.19 percent in Fe
How U.S. dollar\’s hegemony creates global chaos
* Given that the dollar is so embedded in the system of international transactions, the United States has turned it into a tool to bleed other countries by collecting seigniorage revenue.
* To boost i
India launches mobile fast payment system for foreign travelers
NEW DELHI, Feb. 21 (Xinhua) — India\’s central bank, the Reserve Bank of India (RBI), has announced a payment facility for in-bound foreign travelers by using mobile-based fast payment system \”Unified
Yiwu Pay is launched to facilitate global online transactions
Merchant delegates perform during celebrations to welcome the first business day in the Year of the Rabbit at the International Trade Market in Yiwu City, east China\’s Zhejiang Province, Feb 2, 2023.