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Daily Archives: September 27, 2022

Chart: China’s Spot Soymeal Prices Jump to Record in Sign of Shortage

The nearby shortage is reflected in the backwardation on the Dalian Commodity Exchange. Soybean meal for November delivery is priced at 4,667 yuan ($657) a ton, about 600 yuan more expensive than January, the most active contract.

Source : Bloomberg

Chart: Most China Major Trade Partners Saw Yuan Advancing vs. Their Own Currencies in 2022

Source : Bloomberg

Chart: China Yields on Onshore Junk Bonds Dropped Below Those of US Treasuries

The first time since 2007.

Source : Bloomberg

Humour

Video: 天黑得很慢

Words of Wisdom for Persons 60 Years Old and Older

Watch video at You Tube (4:00 minutes) . . . .

Infographic: Countries With the Highest Flood Risk

See large image . . . . . .

Source : Visual Capitalist

Hong Kong Monetary Authority to Begin CBDC Trials in Q4 2022

Jamie Crawley wrote . . . . . . . . .

The Hong Kong Monetary Authority (HKMA) plans to start trials of its central bank digital currency (CBDC) in the fourth quarter, the South China Morning Post (SCMP) reported, citing a media briefing.

Hong Kong’s de facto central bank now plans to lay the technology and legal foundations to support the development of “e-HKD” while exploring the use cases and design issues related the digital currency by conducting a series of tests.

HKMA issued a discussion paper in April inviting views on key issues surrounding CBDCs. It received 75 responses from industry bodies, fintech firms, financial institutions and tech companies.

“Overall, the respondents are supportive of the e-HKD initiative and believe that e-HKD has the potential to make payments more effective while supporting the digital economy,” the HKMA said on Tuesday.

“At the same time, the respondents also pointed out the need to further examine issues such as privacy protection, legal considerations and use cases.”

The central banks of almost every major economy worldwide are studying or developing CBDCs, partly to safeguard their currencies from potential threats posed by privately issued digital currencies.

China is leading the way with its “e-CNY,” which had 260 million individual users as of January, with testing set to extend to four of the country’s largest provinces in the near future.

Hong Kong has its own financial and judicial systems, separate from the Chinese mainland as part of the “One Country, Two Systems” framework under which Hong Kong is governed.


Source : CoinDesk

In Pictures: Hangzhou’s Newest Station Unveiled

Hangzhou’s newest railway station was built for the postponed 2022 Asian Games and will soon open to traffic. West Station, in the capital of East China’s Zhejiang province, is nine floors high, covers 500,000 square meters, and has 11 platforms, making it the largest station on the Huzhou-Hangzhou line


Source : Caixin