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07.02.26 - 10:24
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China′s software sector braces for spillover from AI-led global sell-off (SCMP)
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Fears that increasingly capable AI agents pose existential threats to the traditional software business have rippled through global equity markets, triggering a sharp sell-off in US software stocks this week and spilling over to China's software-as-a-service (SaaS) sector.
Analysts say the impact on China could be just as profound, but shaped by different structural dynamics.
“SaaS growth in China in the next few years will be driven by several leading companies in cloud services and AI –......
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07.02.26 - 07:24
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China tightens crypto crackdown with onshore RWA tokenisation ban (SCMP)
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Chinese authorities issued a notice on Friday that tightened regulations on virtual currency trading, expanding Beijing's crackdown on cryptocurrencies to the tokenisation of real world assets (RWA).
Onshore RWA tokenisation activities and related intermediary or technology services for securities issuance, financial operations or fundraising were banned, according to the notice, which added that exceptions may apply in specific cases if approved by authorities.
“Overseas entities and......
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07.02.26 - 04:06
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Chinese consumers′ rapidly changing demands keep KFC owner on its toes (SCMP)
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For Yum China CEO Joey Wat, success in the mainland's vast but fierce market does not hinge only on being a local or international fast-food brand.
“I personally have huge respect for many local brands,” she said in November. “Chinese players are innovating a lot under the leadership of their founders. We fully understand that this is a cutthroat market.”
Wat admitted to being a fan of some mainland restaurant chains whose founders remained pivotal in strategic planning and daily operations.......
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07.02.26 - 03:06
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Waning fortunes: how Western brands are adapting to China′s changing consumer landscape (SCMP)
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“Three Starbucks peach lattes for 84.90 yuan [US$12]”, a live streaming host tells viewers on Douyin, China's popular short-video platform. “Three, two, one – the link is up. Don't miss this deal, babes.”
As Starbucks' planned sale of a majority stake in its China business to Boyu Capital, announced three months ago, awaits regulatory clearance, the US coffee chain has stepped up its push into China's heated live streaming shopping race, using discounts to bring down the cost per cup.
The......
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07.02.26 - 02:12
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China Bans Stablecoin Issuance By Foreign And Domestic Companies (ZeroHedge)
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China Bans Stablecoin Issuance By Foreign And Domestic Companies
Submitted by Cointelegraph,
The People's Bank of China (PBOC), the country's central bank, and seven Chinese regulatory agencies published a joint statement on Friday banning the unapproved issuance of Renminbi-pegged stablecoins and tokenized real-world assets (RWAs).
The ban applies to both domestic and foreign stablecoin and tokenized RWA issuers, according to the statement, which was also signed by the Ministry of Industry and Information Technology and China's Securities Regulatory Commission. A translation of the announcement said:
“Stablecoins pegged to fiat currencies perform some of the functions of fiat currencies in disguise during circulation and use. No unit or individual at home or abroad may issue RMB-linked stablecoins without the consent of relevant departments.”
Winston Ma, an adjunct professor at New York University (NYU) Law School and former Managing Director of CIC, China's sovereign wealth fund, tol...
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06.02.26 - 19:18
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Mandelson lobbying firm sought work with Russia and China state companies, Epstein emails show (The Guardian)
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Peer and Benjamin Wegg-Prosser met disgraced financier before formal foundation of Global CounselBoss of lobbying firm founded with Peter Mandelson quitsPeter Mandelson's former lobbying firm sought work with companies controlled by the governments of Russia and China shortly after he left ministerial office, according to emails the disgraced former minister forwarded to the convicted child sex offender Jeffrey Epstein.The emails show how Mandelson and Benjamin Wegg-Prosser scrambled to drum up high-paying foreign business after co-founding Global Counsel even as Mandelson remained a member of the House of Lords. Potential clients included the Russian state investment firm Rusnano and the state-owned China International Capital Corporation, the emails suggest. Continue reading......
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