Hong Kong launches pilot program with digital yuan | Crypto Valley Journal

“Hong Kong’s finance minister firmly spoke of the need for digital transformation and confirmed that the region will conduct technical tests on China’s digital central bank currency (CBDC) in the form of a digital yuan in 2022.

Hong Kong Finance Minister Paul Chan Mo-po said in an essay posted on the ministry’s website on June 27 that the organization would begin technical testing of the digital yuan. Guided by the idea of “keeping up with the times”, Mo-po began his essay by saying that he was aware of how enthusiastically the Chinese public used consumer vouchers and discounts with e-wallets. This motivated him to reflect on the impact of the digital yuan, which he believes will increase the public’s interest in digital systems, as mentioned earlier.“”

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After the sale to China, the old GC no longer exists | NZZ

“After 17 years of unsuccessful searches, Grasshopper Fussball AG has found new donors. Hong Kong’s Champion Union HK Holdings Limited takes over the majority of the shares – and immediately changes the management. GC now has a survival perspective, but faces a future that is one thing above all: unknown.”

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For China, the 2020s will be a difficult decade | CapX

“At the dawn of the 2020s, China is facing challenges that are perhaps the most serious since the death of Mao Zedong in 1976.

Until relatively recently, these were predominantly home-grown problems gathering momentum slowly over the last decade or so. They have become accentuated, though, by the emergence of a new, repressive governance system under President Xi Jinping, and, in the last two years by the so-called trade war and the eruption of instability in Hong Kong. In the 2020s, China’s growth is likely to continue to slow to about 3-4% a year. A ‘recession with Chinese characteristics’ is not out of the question.

We should pay close attention. Slower growth and the rising risk of a significant fall in the value of the yuan in the next few years could easily choke the narrative that China will become the biggest economy in the world. This would have a significant impact on how China, and we think about everything from economics to foreign and security policy in the global system.”

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Yingqu Technology: A wholly-owned subsidiary in Hong Kong holds 76% of each of SDH and SDW | Sina.cn

Yingqu Technology announced that recently, Intretech (HK) Co., Limited, a wholly-owned subsidiary of the company in Hong Kong, has paid the original equity shareholders of the Swiss company SDH Holding SA and SDATAWAY SA in the second phase of the equity purchase agreement for the 2019 equity transfer. About 2.172 million Swiss francs (approximately 15.51699 million yuan). At the same time, the transaction subject completed the 6% equity transfer of SDH and SDW each in accordance with the terms and conditions of the Equity Acquisition Agreement. Since the date of settlement, Yingqu Hong Kong has held 76% of each of SDH and SDW.

@ Sina.cn | July 19, 2019

Swiss Education Group sold to an Asian company | AGEFI

The Vaudois Swiss Education Group (SEG) has joined the Chinese investment group Summer Capital. The Hong Kong-based firm took over the manager of hotel schools from the Zugoise holding company Invision on June 6.

@ AGEFI | June 14, 2018