After provincial authorities started to limit operations of cryptocurrencies earlier this year, last week a full ban was issued by 10 ministries. Financial analyst Winston Wenyan Ma explains Bloomberg what the central government is doing to cryptocurrencies, the relation with the upcoming digital currency and its possible fallout on a global level.
Some investors have been suggesting that the latest political changes in China have made India an easier place to invest. VC veteran William Bao Bean, with major experience in both countries, disagrees, he tells in the South China Morning Post. He believes the government’s efforts to break the duopoly of Tencent and Alibaba makes China for him even more attractive.
Growing and making profits on the internet has been relatively easy for China’s tech firms when the industry took off, says veteran Internet watcher Matthew Brennan to the state-owned CGTN. But those easy gains are over now the government stepped in to regulate the industry and massive growth is harder to get, he adds.
Fintech expert Winston Wenyan Ma joins a panel at the BSN base and explains how China’s economy moved from import/export to a focus on innovation. China missed the world’s first technological revolutions because of domestic turbulence and external influences but has become a leading force for the third technological data revolution.
When Zhang Yiming, founder and CEO of successful internet giant Bytedance, left last week his post, speculations on a relation with the government crackdown on internet firms was easily made. Internet analyst Matthew Brennan, who wrote a book on Bytedance, says there might be a link, but different from what was mostly suggested, he says in Marketscreener.