Luo Zhuojian, a member of the National Committee of the Chinese People's Political Consultative Conference and a consulting expert of the Ministry of Finance, issued a document calling for the active development of stablecoins to protect the advantages of Hong Kong's financial center. He pointed out that Hong Kong can cooperate with Financial Institution Groups in other regions in the application of stablecoins to explore its potential in international settlement and cross-border application mod...
On January 10, 2025, the Ministry of Finance of the People's Republic of China's 7-year (renewal) government bond weighted win the bidding yield 1.5339%, the marginal win the bidding yield 1.5568%, and the bid multiple 3.34. The Ministry of Finance of the People's Republic of China's 2-year (renewal) government bond weighted win the bidding yield 1.1626%, the marginal win the bidding yield 1.2157%, and the bid multiple 3.79.
On December 30th, the notice of the General Office of the Ministry of Finance on further clarifying the requirements for the proportion of government procurement of new energy vehicles. Purchasers shall strengthen the government procurement request management of official vehicles, fully understand the functions and performance of new energy vehicles, and take the lead in using new energy vehicles in combination with actual use needs. The competent budget unit shall make an overall plan to determ...
According to the budget document released by the Ministry of Economy and Finance of Kyrgyzstan, the crypto mining tax contribution in 2024 is 46.60 million som (about $535,000), a decrease of more than 50% from the 93.70 million som (over $1 million) in 2023. The country levies a mining tax on crypto miners of 10% of electricity bills, including VAT and sales tax. Although Kyrgyzstan is seen as an ideal location for mining due to its abundant untapped renewable energy, the decrease in taxes may ...
Ministry of Finance: From January to November, the total operating income of state-owned and state-controlled enterprises across the country increased by 1.3% year-on-year, and the total profit decreased by 0.1% year-on-year.
Ministry of Finance: From January to November, the total operating income of state-owned enterprises was 74.8971 trillion yuan, an increase of 1.3% year-on-year. From January to November, the total profit of state-owned enterprises was 3.84859 trillion yuan, a decrease of 0.1% year-on-year.
Russian Finance Minister Anton Siluanov said that Russian companies are currently using BTC for international trade, and Putin also supports this move. As China and Turkey face secondary sanctions from the United States, Moscow is considering using cryptocurrencies as a solution. Putin has unabashedly accused the United States of politicizing the dollar and has maintained that bitcoin cannot be stopped. Russia's shift to cryptocurrencies is reshaping trade and global finance.
The Ministry of Finance has decided to carry out pilot work in Beijing, Tianjin, Shanghai, Fujian, Guangdong Pilot Free Trade Zones and Hainan Free Trade Port to promote the resolution of the problem of abnormal low prices in government procurement. This notice shall come into force on February 1, 2025.
On December 24th, the National Financial Work Conference was held in Beijing. Lan Foan, Secretary of the Party Group of the Ministry of Finance and Minister of Finance, made a work report. The meeting emphasized that we should implement more active fiscal policies, strengthen the overall planning of financial resources and budgets, deepen the reform of the fiscal and taxation system, strengthen financial scientific management, prevent and resolve risks, strengthen financial discipline, improve t...
On December 24th, the National Financial Work Conference was held in Beijing. The meeting called for vigorously promoting scientific financial management, promoting zero-based budget reform, comprehensively deepening the reform of the fiscal and taxation system, effectively preventing and resolving local government debt risks, resolutely holding the bottom line of the "three guarantees" at the grassroots level, increasing financial supervision, improving the efficiency of fiscal governance, and ...
On December 10, the South Korean Ministry of Finance said that the recent market volatility is a bit excessive and will take measures to stabilize the market to deal with it. Or affected by this news, South Korea's KOSPI index rose 1%. (Jin Ten)
The representative of the Russian State Duma, Anton Tkayev, has proposed to Finance Minister Anton Siluanov the establishment of a strategic bitcoin reserve to counter financial risks posed by geopolitical instability.
South Korea's Ministry of Finance: The Korean stock market will open as usual (today).
A spokesperson for South Korea's Ministry of Planning and Finance said authorities had decided that the country's stock market would open at 9 a.m. local time as usual.
The Ministry of Finance has publicly solicited opinions on the Measures for the Supervision and Administration of the Evaluation of State-owned Assets of Financial Institutions Groups.