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Ant IPO Stopped By President Xi As Rebuke To Gov't Criticism

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Chinese President Xi Jinping reportedly personally nixed the Ant Group double initial public offering (IPO), which had been set to be the biggest in the world, The Wall Street Journal (WSJ) reported. 24, Ma quoted Xi in a speech, saying "Success does not have to come from me," WSJ reported.

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China's Central Bank Tells Ant Group To Concentrate On Payments Business

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The regulations will mean that Ant, one of the most valuable startups in the world, will have to rein in its inroads into lucrative areas of business. The IPO, which would have been listed on both the Hong Kong and Shanghai markets and was set to raise $34 billion, would have been the biggest in the world up to that point.

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Former China Bank Gov Against Rushing Digital Currency

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A former Chinese deputy governor is urging President Xi Jinping to rethink his response to Libra after the U.S. Instead of making its own digital currency, the deputy, Zhu Min, is asking Xi to reconsider rushing that process. hearing last October. China has actually been looking at making its own CDBC since 2014.

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France, Germany And EU Want China To Play Nice

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According to a report in The Financial Times citing comments the world leaders made after a summit with Chinese president Xi Jinping, German Chancellor Angela Merkel called on Beijing to provide a “certain amount of reciprocity” to ink a future investment agreement between the European Union and China.

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China’s President Sees Blockchain Bringing ‘Breakthrough’ Applications

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The President of China Xi Jinping said this week that blockchain technology will enable “breakthrough” applications. ” The leader of China also said the country needs to focus on technological development and become a leader in science and innovation. .

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New Law Brings China Closer To Developing Digital Currency

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The announcement came one day after Chinese President Xi Jinping called on the country to seize opportunities in blockchain technology. . could fall behind China in the race for legitimized cryptocurrency, and subsequently in influence around the world.

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Chinese Bitcoin Mining Firm Canaan Creative To List On Nasdaq

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In its prospectus, the Hangzhou-based company says it is the second-largest mining machine designer and creator in the world. Last week, Chinese President Xi Jinping spoke about how he wanted blockchain technology in the country to continue to flourish and stressed the importance of China’s involvement.

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