China’s ruling Party, the Communist Party of China (CPC), held its 19th National Congress from October 18 to 24 in Beijing, where Party General Secretary Xi Jinping declared that China has entered “a new era of socialism with Chinese characteristics.”
The People’s Bank of China (PBOC), alongside six ministries, released a document on September 4 banning ICOs (initial coin offerings) nationwide.
China has implemented a points system for foreigners seeking work in the country, said Zhang Jianguo, director of the State Administration of Foreign Experts Affairs (SAFEA), which manages so-called “foreign talent” in China.
China’s central bank, the People’s Bank of China (PBOC), has announced it will require all Chinese third-party payment platforms, including Alibaba’s Alipay and Tencent’s WeChat-linked WeChat Pay, to pass their transactions through a centralized clearing house by Jun 30, 2018.
A magnitude 7 earthquake struck Jiuzhaigou county in Sichuan Province on August 8, killing at least 25 people and injuring more than 500, according to the provincial government.
The central parity rate of the Chinese yuan against the US dollar rose to exceed 6.72 on August 1, its highest since last October.