SHANGHAI, Dec 5 (Reuters) – China’s government banned
financial institutions from trading in bitcoin on Thursday, in
what analysts said was a restrained first step towards
regulating the digital currency that has exploded in popularity
in China and soared in value in recent months.
A statement by the central bank and four other agencies said
that, while the computer-generated currency does not yet pose a
threat to China’s financial system, it carries risks. It did
not, however, curtail the use of bitcoin by individuals.
Bitcoin, litecoin prices plummeting on China exchanges, overseas exchanges now following
China central bank cracking down on bitcoin
SHANGHAI, Dec 5 (Reuters) – Chinese regulators have moved to
ease restrictions on corporate debt issuance to reduce
dependence on bank loans, and to reduce the net market impact of
new rules cracking down on practices intended to evade lending
Regulators hope that allowing more corporates to issue debt
on the bond market or tap funds directly will allow companies to
access credit without recourse to bank loans.
SHANGHAI/HONG KONG, Dec 4 (Reuters) – China plans to roll
out financial sector reforms in the Shanghai special economic
zone in the next three months and most will be implemented in a
year, suggesting authorities are accelerating the pace of
dismantling capital account controls.
A People’s Bank of China (PBOC) statement on Wednesday for
the first time gave a timeline for launching deep reforms in the
zone, adding they could then be duplicated in other similar
zones around the country.