China Economy
High-end yacht owners in China warn that water-use restrictions and other structural gaps are hindering industry growth, even as billionaire Richard Liu’s recent venture seeks to make yachts affordable for the masses.
Reported by AI
US crypto advocates cite competition with China's interest-bearing e-CNY to push for stablecoin yield clarity, but banks' opposition stalls the Clarity Act. Experts say the two largest economies are pursuing very different digital money strategies.
Shenzhen's local government has announced plans to embed AI across society in its latest five-year blueprint, aiming to bring the technology into every household. The initiative covers 2026 to 2030 and seeks to position the city as one of the world's most technologically advanced by 2035. Analysts view it as a vital testing ground for Beijing's national AI strategy amid intensifying US-China tech competition.
Reported by AI
China's onshore yuan closed at its strongest level since May 2023, trading at 7.0066 per dollar, amid a weakening US dollar. This development, typically bullish for bitcoin, has not lifted the cryptocurrency, which lingers below $90,000. Factors like thin year-end liquidity and ETF outflows are muting the expected rally.