Bitcoin Bounces Back After Chinese Government Bashing
Perhaps Bitcoin is stronger and more resilient than its critics have suggested, as the virtual currency has seemingly bounced back after critical statements were issued by the Chinese government.
People's Bank of China
New Chinese Payment Licenses Open Internet Retail To More Companies
The People's Bank of China has published a report saying that it has issued licenses for non-financial institutions to operate payment businesses to 27 companies, including Alipay.com.
Chinese Internet Behemoth Plans Retail Banks
Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People's Bank of China and China Banking Regulatory Commission.
China's Central Bank To License Online Payment Platforms
According to Ouyang Weimin, the director of the Payment System Department of the People's Bank of China, PBOC plans to issue licenses to Chinese online third-party payment platforms to bring more competition and a higher…