Inner Mongolia


China to boot bitcoin miners out of Inner Mongolia

China to boot bitcoin miners out of Inner Mongolia

(ATF) Virtual currency mining may completely move away from Inner Mongolia, as China clamps down on bitcoin miners taking advantage of cheap electricity prices, and other factors.Senior officials announced that in order to achieve the 14th Five-Year Plan, energy consumption targets and tasks of the Inner Mongolia Autonomous Region, the …

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Baoshang, China's first commercial bank to go bankrupt

First bankruptcy of a commercial bank in China

(ATF) Baoshang Bank, which has been described as serving as an “ATM” for billionaire Xiao Jianhua’s Tomorrow Holdings conglomerate, has started bankruptcy proceedings after regulators took control of the Inner Mongolian lender in May 2019 because of its serious credit risks.The China Banking and Insurance Regulatory Commission agreed that Baoshang …

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Push for trading exchange to stabilise rare earth pricing in China

Push for trading exchange to stabilise rare earth prices in China

(ATF) As the Sino-US trade war continues China is re-appraising its pricing mechanisms for rare earths, of which it is the world’s top supplier. New measures in corporate governance are being considered, as well as the creation of various indexes and an exchange to stabilise prices and sales.China controls a …

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China sets up new cargo shipping link to ASEAN

China sets up new cargo shipping link to ASEAN

(ATF) As China’s top officials attend the 5th Plenum party meetings, official sources are releasing highly positive and optimistic figures on the economy. As the figures are compiled by the state they are hard to verify, and should be viewed as just general indicators.CCTV, the key state media outlet, broadcast …

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China plans big expansion of rare earth business 

China plans big expansion of rare earth business 

(ATF) For more than 60 years, the Obo mine in Inner Mongolia has been mined for iron ore, while the rare earths found at the mine were sold at "cabbage prices," as they were previously considered by catch. But times have changed and rare earths are now widely used in …

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