Chinese Yuan Renminbi

Meituan will now let users pay for offline services from hotels to movie theatre tickets with China’s digital currency, known as the digital yuan or e-CNY.

China has pushed to expand the number of users for its sovereign digital currency through partnerships with tech giants including Tencent and JD.com.

JD.com’s use of the digital yuan highlights how China’s central bank is increasing the scope of testing for its digital currency.

China’s digital yuan is an example of a central bank digital currency which aims to replace some of the cash in circulation.

The People’s Bank of China has been developing the digital yuan, a so-called central bank digital currency that aims to replace some of the cash in circulation.

China is handing out 20 million yuan ($3 million) of its digital currency as part of a lottery in Suzhou.

Brown Brothers Harriman’s Win Thin sees a weakening dollar through early next year.

A strong majority, 74%, of U.S. business economists appear sufficiently concerned about the risks of some of President Donald Trump’s economic policies that they expect a recession in the U.S. by the end of 2021. The economists surveyed by the National Association for Business Economics, in a report released Monday, mostly didn’t share Trump’s optimistic outlook for the economy, though...

American fashion brand Coach, French label Givenchy and Italian luxury brand Versace have been boycotted by some Chinese social media stars for suggesting that places like Hong Kong and Macau are separate from China. The Versace label and its artistic director Donatella Versace apologized on Sunday after images of a T-shirt pairing cities with their countries stated “Macau, Macau” and...

Stocks stumbled Friday as worries flared yet again that President Donald Trump’s trade war with China may be worsening. It was a fitting end to a wild week where markets zoomed down, up and down again as investors recalibrated by the minute how much the tensions will hurt the global economy. The S&P 500 dropped as much as 1.3% Friday...

China stabilized its currency Tuesday, suggesting it might hold off from aggressively letting the yuan weaken as a way to respond to U.S. President Donald Trump’s tariffs, in a trade war that is wounding the world economy. The yuan declined to 7.0562 to the dollar before strengthening back to 7.0297 in the afternoon. That came a day after Beijing sent...

China decided Monday to meet President Donald Trump’s latest tariff threat with defiance, letting its currency drop to an 11-year low and halting purchases of U.S. farm products. The moves, which came four days after Trump threatened more taxes on Chinese imports, knocked stock markets worldwide into a tailspin. On Wall Street, the Dow Jones Industrial Average was down more...

Rescue efforts were underway Tuesday after an earthquake in southwestern China left 12 people dead and 135 others injured, authorities said. Hundreds of firefighters arrived early Tuesday and rescued at least eight trapped people, the Chinese Ministry of Emergency Management said. State broadcaster CCTV showed soldiers using a chainsaw to cut through a wooden door and rescue a couple under...