Tagged: china

Yirendai Named One of the Internet Financial Industry Information Sharing Platform’s Inaugural Members

Yirendai

Yirendai (NYSE:YRD), the publicly traded offshoot of huge P2P lender CreditEase, announced on Tuesday it has been named an inaugural member of the Internet Financial Industry Information Sharing Platform(IFIISP). According to the company, the IFIISP was launched by China Internet Finance Association (CIFA) and aims to… Read More

China: WeiyangX Fintech Review

summer-palace-in-beijing

  Baidu FSG launches mobile foreign exchange service Baidu FSG recently announced the launch of mobile foreign exchange service. Users of Baidu Wallet in Canada, Italy, Japan and Philippine could use this service to exchange small foreign change into targeted currency category. It is said… Read More

PINTEC Group Spins Off Jimubox, Rebrands P2P Lender JIMU Group

china-wood-structure-pergola

PINTEC Group, a leading Chinese fintech platform, today announced it will spinoff P2P lending platform Jimubox into an independent company, JIMU Group. Jimubox was a wholly-owned subsidiary of PINTEC Group, which holds a diversified group of financial technology businesses operating in the digital consumer lending… Read More

EY Gets Caught Up in Failed P2P Lender Jinxing Investments

China Yuan Renmibi

Shanghai Daily is reporting that global consultancy EY has gotten sucked into the collapse of peer to peer lender Jinxing Investments. According to the report, the Shanghai offices of EY has endured several protests becoming surrounded by angry investors who were under the impression that… Read More

China P2P IPO: Lufax Preps for Hong Kong Listing

Greg Gibb Lufax

Lufax, one of China’s largest peer to peer lending platforms, is preparing for its long-awaited IPO. This is according to a report in Reuters that stated the IPO could raise $5 billion. At the last funding round, Lufax captured a valuation topping $18 billion.  China… Read More

China: WeiyangX Fintech Review

china-wood-structure-pergola

Fintech related cases would become an important area of civil and commercial trial in the future. On September 10, 2016, the sixth “Southern China Enterprise Law Innovation Forum” was held in Shenzhen. During the seminar of “China’s Law Innovation in Internet Age”, Yang Linping from… Read More

Report: PE & VC Activity Cooling in China Including P2P

China Map

China News is reporting that cooling private equity and venture capital deals are causing challenges for investors. Ni Zhengdong, head of Zero2IPO – a research group, stated; “Chinese venture capital and private equity investors made investments too quickly in the past three years and the… Read More

Crackdown: China P2P Lenders Raided by Police

China Punishiment Image

In multiple reports, Chinese authorities raided the offices of “two crippled peer to peer lending platforms”.  Both Jinlu Fund and Dangtian Wealth were visited by Shanghai police on suspicion of “illegally pooling deposits”, according to China News. Both platforms are affiliated with Shanghai Kuailu Investment… Read More

China: Weiyangx Fintech Review

China Forbidden City Sunset Beijing

Qudian.com announced to exit from campus installment market in which it used to be the leader, and turned their focus on consumer finance. Qudian.com (previously named Qufenqi.com) announced this week that they would exit from the campus installment loan market, and made consumer finance for… Read More

Chinese Fintech Company WeLab Secures $25M Credit Facility from ING Bank to Help Fuel Hong Kong Growth

Simon Loong

WeLab, a Chinese-based fintech company, announced last week it has secured a credit facility of $25 million from ING Bank as part of its Hong Kong expansion and enable the company to meet rapidly growing demand for its loans in Hong Kong. Sharing details about the credit… Read More

HKMA Introduces New Initiatives: FinTech Innovation Hub and FinTech Supervisory Sandbox

hong kong

The Hong Kong Monetary Authority (HKMA) has unveiled a series of policy initiatives for banks to embrace technology, and changed the city’s tax regime to attract corporate treasury departments, as it sharpens its edge to compete with Singapore and Tokyo as Asia’s financial centre, reported… Read More

Pile On: Yirendai Now Has Eight Lawsuits Against Them

China Punishiment Image

At the most recent count, China-based peer to peer lender Yirendai (NYSE:YRD) has at least eight class-action lawsuits filed against the company following the enactment of new regulations directed towards the booming online lending industry in China. The firms that have made public proclamations are as… Read More

China Cultural Relics Protection Foundation Seeks Funds For Great Wall Repairs

Great Wall of China

Following thousands of years of protecting the people of China from invaders, the Great Wall of China (one of the Earth’s greatest wonders) is in desperate need of repairs. With that said, the China Cultural Relics Protection Foundation has launched its very own crowdfunding campaign… Read More

China Issues Online Lending Rules: Panic Ensues

Regulations OMG Panic Regret Worry Concern Frustration copy

After nearly eight months since the original draft was first issued, the China Banking Regulatory Commission (“CBRC”) announced the official rules for the online lending industry on August 24, 2016. The unveiling came accompanied with a few policy curveballs that few industry participants were expecting…. Read More

China Report: Fincera Executes on Transition to Internet Finance

China Roof Forbidden City

China is the largest alternative finance market in the world and Fincera (OTCQB: AUTCF) is a fast growing internet finance platform that is providing an increasing portfolio of services online.  But Fincera started in an entirely different business sector: commercial auto-leasing under the name of… Read More

Yirendai Gets Hit with Several Lawsuits on Share Price Decline

Yirendai

The several law firms have filed class-action lawsuits on behalf of shareholders of Yirendai (NYSE:YRD) who acquired shares at some point during 2016 – some of the filings are specifying date ranges. The reason this is interesting is that these law firms are faulting Yirendai… Read More

13 New Restrictions for China P2P Lenders as Rules Sink In

Chinese Peer to Peer Lending

Announced earlier this week, China has finally revealed its regulatory approach to online lending. To put this into perspective, peer to peer lending is huge in China – the largest online lending market in the world. The rapid ascension of P2P lending was driven by… Read More

Financial Innovation Now: Big Tech Educates Policy Makers on Benefits of Fintech

Fintech Apple Google Amazon PayPal Intuit

Apple, Google, Amazon, PayPal & Intuit Provide the Firepower Behind Fintech Advocacy Group Financial Innovation Now. Back in the fall of 2015, an announcement was made regarding the creation of a new public policy coalition representing some of the largest names in tech: Apple, Google,… Read More

Ticwatch 2 Hurdles Over $2M During the Final Hours on Kickstarter

Ticwatch 2 1

With less than 24 hours until its Kickstarter campaign comes to an end, Mobvoi’s Ticwatch 2 has successfully surpassed $2 million thanks to over 9,500 backers. The timepiece is notably is lifestyle convenient and provides what the company believes to be an innovative design along with a unique… Read More

China P2P Lending Rules Said to Include Caps on Amount Borrowed

China Yuan Renmibi

A report in ChinaNews is saying The China Banking Regulatory Commission (CBRC), along with partner agencies, will release rules regarding online lending that will include lending caps. According to the report, individuals will be able to borrow up to 200,000 CNY (USD $30,000) from any… Read More