• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
SK Hynix shares fell sharply, with the decline widening to 3.5%.July 3rd - A CICC research report states that the US added 57,000 non-farm jobs in June, lower than market expectations, indicating a slowdown in the acceleration of job growth. Even after a downward revision of the previous figure, the average monthly increase in jobs over the past three months still reached 111,000, showing that the labor market is still expanding. Meanwhile, the unemployment rate fell to 4.2%, and the labor force participation rate continued to decline, reflecting a coexistence of robust employment demand and a contraction in labor supply, indicating relatively low overall unemployment pressure. We believe this data has given the Federal Reserve time to wait and see, therefore maintaining our judgment that it will neither raise nor lower interest rates this year. In the medium term, this years improvement in US employment is more due to the economic cycle recovery driven by AI investment, rather than short-term factors such as the World Cup. This means that if aggregate demand continues to expand under the impetus of AI, the possibility of the Federal Reserve restarting interest rate hikes next year cannot be ruled out.Futures News, July 3rd - According to foreign media reports, Malaysian crude palm oil futures on the Bursa Malaysia Derivatives Exchange (BMD) are likely to open higher on Friday morning, mainly reflecting the firm rise in international crude oil futures. On Thursday, international crude oil futures and Chicago soybean oil futures rose firmly, and Brent crude oil futures further increased during Fridays electronic trading session, which will help the early performance of Malaysian crude palm oil futures. However, India, the worlds largest importer of edible oils, is likely to see its palm oil imports in June fall to their lowest level in 14 months due to weak demand and a narrowing price advantage relative to competitors, prompting buyers to reduce purchases. This could put some pressure on the Malaysian palm oil market.1. International precious metals futures generally closed higher. COMEX gold futures rose 1.30% to $4135.50 per ounce, and COMEX silver futures rose 1.54% to $61.44 per ounce. Cooling expectations of a Fed rate hike, coupled with weak non-farm payroll data, continued gold purchases by global central banks, and a correction in A-shares boosting safe-haven demand, all contributed to the rise in precious metal prices. 2. The WTI crude oil futures contract closed down 0.17% at $68.46 per barrel; the Brent crude oil futures contract fell 0.01% to $71.56 per barrel. Easing geopolitical tensions in the Middle East led to a significant rebound in oil shipments through the Strait of Hormuz, increasing market supply expectations, and prompting several institutions to lower their oil price forecasts. 3. Most London base metals fell. LME aluminum rose 0.23% to $3083.0/ton, LME lead rose 0.16% to $1868.5/ton, LME copper fell 0.10% to $13285.5/ton, LME nickel fell 0.37% to $16295.0/ton, LME zinc fell 0.76% to $3472.5/ton, and LME tin fell 1.50% to $50855.0/ton. 4. The three major U.S. stock indexes closed mixed. The Dow Jones Industrial Average rose 1.14% to 52900.07 points, setting a new record high; the S&P 500 was flat at 7483.24 points; and the Nasdaq Composite fell 0.8% to 25832.67 points. Apple rose nearly 5%, and McDonalds rose more than 4%, leading the Dow Jones gains. The Philadelphia Semiconductor Index fell 5.44%, SanDisk dropped over 14%, and Micron Technology fell over 5%. The Wind US Tech Big Seven Index fell 0.11%, Tesla fell over 7%, and Facebook fell nearly 5%. SpaceX rose nearly 3%. The Nasdaq China Golden Dragon Index fell 1.77%, 21Vianet fell over 10%, and BaWangChaJi fell over 8%. European stock markets closed higher across the board: the German DAX rose 2.16% to 25,580.88 points; the French CAC40 rose 1.65% to 8,474.86 points; and the UK FTSE 100 rose 1.67% to 10,652.87 points. Stronger European stocks were driven by significantly weaker-than-expected US June non-farm payroll data, which led to a reduction in market bets on a Fed rate hike. A comprehensive reform package reached by the German ruling coalition boosted confidence.July 3 – On July 2, 2026, local time, Wang Yi, member of the Political Bureau of the CPC Central Committee and Foreign Minister, held talks with Danish Foreign Minister Rasmussen in Copenhagen. Wang Yi stated that current bilateral relations are maintaining healthy and stable development. China is Denmarks largest trading partner in Asia, and bilateral economic and trade cooperation has yielded fruitful results over the years. China is willing to further expand trade and investment cooperation with Denmark, launch negotiations on a new version of the Green Joint Working Program, and, guided by green cooperation, deepen cooperation in scientific research and innovation, green shipping, and healthcare, while expanding exchanges in education, culture, tourism, youth, and sports, thereby enhancing mutual understanding and friendship between the two peoples and adding new contemporary significance to the China-Denmark comprehensive strategic partnership. Rasmussen stated that Denmark looks forward to maintaining exchanges at all levels with China, continuing open and candid dialogue, exploring the formulation of a new version of the Green Joint Working Program, and promoting exchanges and cooperation in trade, culture, health, education, and other fields.

Controllable Anonymity Is an Important Feature of CBDC – PBoC Official

Skylar Shaw

Jul 26, 2022 11:43

微信截图_20220726113704.png


The central bank digital currency (CBDC) of China, the digital yuan, has recently increased concerns about user privacy. The digital yuan, according to experts, may provide the government extensive access to personal data and increase official monitoring.


It was a "misunderstanding," according to a top central bank official, who also made it clear that the nation fully respects the need for personal information security.

e-CNY gathers less user data

During a symposium on Sunday in Fujian, China, Mu Changchun, the director of the People's Bank of China's (PBoC) Digital Currency Institute, reacted to inquiries about the privacy issues surrounding the digital yuan.


He highlighted that China will preserve data pertaining to the usage of digital yuan and that total anonymity had never been considered for CBDC, according to a local media article. "First of all, controlled anonymity is a crucial component of digital RMB [e-CNY]," he said. Nevertheless, it also stops and fights against unlawful acts including tax evasion, money laundering, and funding of terrorism.


His comments come as the nation is making steady progress with the digital currency pilot testing.


In accordance with a Bloomberg article, very little information on users of digital yuan is accessible.


Furthermore, not all trade information would be available to the central bank or platforms that manage CBDC transactions. Authorities should only request the usage of the data when it is required to look into transactions that may be breaking the law, according to Mu.


Mu also emphasized the digital yuan's "two-tier operating" mechanism, which prevents unauthorized access to or use of personal information.”


Digital RMB adheres to the principles of autonomy, transparency, and minimization and gathers the required personal information directly relevant to the goal of processing in accordance with user preferences based on the design of the two-tier operating system and wallet matrix.


Users may, however, revoke these rights at any time, in which case the digital yuan program will cease collecting personal data.


CBDC has the ability to buy everything that banknotes can.


Mu also refuted the assertion that gold cannot be purchased using e-CNY (XAU). He claimed that digital yuan is legal tender in the same way as banknotes are, that it can be traded 1:1 for fiat money, and that it can be used to pay for anything.


"Digital yuan can trade for foreign cash and purchase gold, just like banknotes and coins can."


Since the majority of people currently use mobile payment applications like WeChat Pay and Alipay, a full rollout of the digital form of the yuan is still far off.


The CBDC pilot program of the PBoC has been extended to 23 cities, serving over 1/5 of the total population. The central bank extended its trial program in March to include other cities, enabling locals to use digital yuan for shopping and public transit.


Mu noted that e-"controllable CNY's anonymity" will contribute to the public receiving better and more secure payment services.