Hey everyone! Did you hear the big news from China? 🇨🇳 Let’s dive into what’s happening!
On Wednesday, a special event called the Lujiazui Forum started in Shanghai, one of China’s most famous cities. At this forum, important people from China’s financial institutions shared some exciting plans for the future!
One of the cool announcements is that China is creating an “international operations center” for the digital yuan. 💰 But what does that mean?
Well, the yuan (also called renminbi) is China’s money, like how the dollar is used in the United States. The “digital yuan” is like a digital version of their money, kind of like digital currencies you might have heard of! By making an international center, China wants more people around the world to use their digital money.
But that’s not all! They also talked about ways to help technology companies grow. The National Financial Regulatory Administration (that’s a big name, but think of it like a team that makes rules about money) and the China Securities Regulatory Commission (they help with things like the stock market) are planning to help tech companies with new programs.
For example, they want to help tech companies get investments and loans more easily. This means it might be easier for cool new gadgets or apps to come from China in the future! 📱🚀
They also talked about making the STAR Market even better. The STAR Market is a place where tech companies can get investments, kind of like a special club for tech innovation. By introducing new policies, they hope to support even more creative ideas.
And guess what? To help people and companies in China invest overseas (that’s in other countries), they’re giving out new quotas, which means they can invest more money abroad!
All these plans show that China is working hard to boost technology and finance. Who knows what amazing new inventions we might see soon?
Stay tuned for more exciting news! 😉
Reference(s):
Lujiazui Forum opens with major financial policy announcements
cgtn.com
