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On March 16, according to @Customs, recently, some online platforms spread the news that "Customs will delay inspection of imported coal from April 1, which may lead to extended customs clearance time and further increase the possibility of reduced import volume", which has aroused the attention and discussion of the industry. Customs confirmed that this information is untrue. We remind all enterprises and related parties not to believe and spread unconfirmed news to avoid unnecessary troubles and losses.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote the transformation of the whole society to be suitable for the elderly, support local pilot exploration, and promote the installation of elevators in multi-story buildings and the development of elderly dining services. Actively develop industries such as anti-aging and silver tourism to release the potential of the silver consumption market. Encourage the development of community embedded childcare, employer-run childcare and integrated childcare services. Support and regulate social forces to develop elderly care and childcare services, and improve the price formation mechanism of elderly care services. Encourage places with conditions to provide site support and operation subsidies to universal childcare institutions based on actual conditions.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to develop inbound consumption. Orderly expand the scope of unilateral visa-free countries, optimize and improve regional entry visa-free policies. Launch more high-quality inbound tourism routes and services, improve the convenience level of foreign tourists in China, and cultivate international medical, exhibition and other markets. Deepen the cultivation and construction of international consumption center cities. Support the opening of duty-free shops in urban ports that meet the conditions. Support more high-quality merchants to become departure tax refund stores, and promote the "buy now, refund now" service measures for departure tax refunds.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to promote ice and snow consumption. Launch and implement the ice and snow tourism promotion plan, organize and carry out ice and snow consumption season and other consumption promotion activities, build a number of ice and snow theme high-quality tourist attractions and resorts, and support ice and snow resource-rich areas to build world-renowned high-quality ice and snow tourism destinations. Encourage all regions to enrich the supply of ice and snow venues and consumer products according to time and place.On March 16, the General Office of the CPC Central Committee and the General Office of the State Council issued the "Special Action Plan to Boost Consumption". The plan proposes to strengthen credit support. Financial institutions are encouraged to increase the issuance of personal consumer loans under the premise of controllable risks, and reasonably set the amount, term and interest rate of consumer loans. Financial institutions are supported to optimize the repayment method of personal consumer loans in accordance with the principles of marketization and rule of law, and carry out loan renewal work in an orderly manner. In 2025, financial subsidies will be provided for eligible personal consumer loans and loans to service industry operators in the consumer field.

Binance and Mastercard to Launch Prepaid Card in Inflation Battered Argentina

Jimmy Khan

Aug 05, 2022 14:50

On August 4, Binance announced a partnership with Mastercard (MA) to launch the "Binance Card" in the economically troubled country of Argentina.


The prepaid card aims to bridge the gap between cryptocurrencies and conventional transactions, claims the statement. It was also mentioned that Argentina was the first country in Latin America (LATAM) to receive the items.


Binance Card is the company's most recent effort to broaden the use of bitcoin and electronic payments, but it is still under development.

Worldwide Payments Using Crypto Cards

Everyone in the country who has a valid national ID card may conduct bitcoin transactions and pay bills using the Credencial Payments credit card. More than 90 million physical and online Mastercard companies will accept the card globally.


The retailer will get a real-time fiat conversion of the bitcoin balance on the card. Additionally, cardholders may get up to 8% in bitcoin cashback on certain purchases, as well as 0% ATM withdrawal costs. Users may see and manage transactions and payments via the Binance website and mobile app.


According to Walter Pimenta, Executive Vice President of Products and Innovation at Mastercard Latin America, the company's "operation with digital currencies builds on our robust basis to give choice and peace of mind when clients buy and pay."


Payments are one of the first and most obvious uses for cryptocurrencies, but Maximiliano Hinz, general director of Binance in Latin America, said that adoption still has a lot of room to grow.


As Argentinians deal with increasing inflation and increased living costs, the decision was reached. 


According to Trading Economics, the country's astonishing 64 percent inflation rate in June was among the highest in the whole world. 90 percent is predicted to be reached by year's end.


Many people have already begun to hold dollar-pegged stablecoins like Tether (USDT) and Circle's USDC in order to hedge against the Peso's fast devaluation. Since this time last year, the Peso's value against the US dollar has decreased by more than a third. As a result of increased demand, stablecoins are more costly on Argentine exchanges.


The president of Argentina has swore in three new economics ministers in the last month. Sergio Massa has pledged to stop the excessive money creation that fuels inflation.

Markets for cryptocurrencies grow

The cryptocurrency markets have stayed steady over the last 24 hours, with a little dip in total capitalization to $1.1 trillion. Since their seven-week and weekend highs, the market has lost over $50 billion.


In response to the announcement, the BNB token on Binance performed strongly, bucking the daily fall with a gain of 2.5 percent and climbing back to levels above $300. BNB has fared considerably better than its rivals during the crypto storm, having "only" lost 55 percent of its value from its peak in May 2021.

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