GBA Briefs: 28/10/2019

New crypto law: A new cryptography law passed by the NPC on Saturday has laid the groundwork for the rollout of the digital Renminbi, analysts quoted by Technode believe. No date has yet been set for the launch of the D-RMB, which is being tested in Shenzhen. Read more.

Tough lux: Hong Kong is losing its allure for luxury brands, as mainland shoppers stay away and high-end shops face closure. Read more on SCMP.

Bill due: Hong Kong’s insurers face a HK$600 million bill from the recent protests. Read more on SCMP. 

Recession due: Hong Kong’s finance chief says the city is headed for a full-year economic contraction. Read more on SCMP.

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