Shanghai Reveals 2nd Batch of Projects for its Fintech Sandbox
On December 31st 2020, the Shanghai Fintech Innovation Supervision Pilot Working Group revealed the second batch of projects for its fintech sandbox. The 5 innovative projects focused on cutting-edge technologies such as big data, multi-party secure computation and image recognition, bridging the “digital divide” by providing more accesses of inclusive financial services for individuals and SMEs. Applicants for this round of sandbox included bank, clearing institutions, payment agencies and technology companies. (Source: mpaypass)
Bilibili plans to launch payment services
Bilibili is an online entertainment platform covering a wide array of genres and media formats, including videos, live broadcasting and mobile games.
According to the news on January 6th, 2021, Shanghai Hode Information Technology Co (an affiliate of Bilibili) has registered domain names of “bilibilipay.com” and “bilibilipay.cn”. Like Alipay, Tenpay, and JD Pay, such domain names can usually be translated as “Bilibili Pay”. In fact, Bilibili has started recruiting payment business-related positions on its official website and many recruitment websites since November last year. According to the job description, “the payment PM shall be responsible for wallet design and payment-related products overall plan”. (Source: tech618)
Agriculture Management Platform ICAN Technology Secures Pre-A Round of Financing
ICAN Technology, an integrated platform for smart cultivation and agriculture management, announced the completion of a Pre-A round of financing of tens of millions of yuan. The investment was provided by Linear Capital and Hillhouse Capital. Established in 2018, ICAN Technology is committed to increasing the low level of digitization in Chinese agriculture industry.
Through its AI algorithms and cultivation models, ICAN Technology offers users timely data management and accurate suggestions. Ove the years, ICAN Technology has also extended its services to the supply-chain by providing agricultural financing and insurance products. (Source: 36Kr)
Bank of Beijing Launches Fintech Innovation Laboratory
On January 4th, 2021, the Bank of Beijing announced the establishment of a financial innovation laboratory in the Beijing Municipal Administrative Center.
According to the Bank of Beijing, the new agency will focus on driving system upgrading, exploring project innovation, and promoting talent cultivation. Besides, the Bank of Beijing revealed that it was currently in negotiations with the Institute of Automation of the Chinses Academy of Sciences (CAS) to carry out collaboration in the areas of AI and big data. (Source: financialnews.com.cn)
The above is a weekly synopsis of the biggest stories on Fintech in China provided by WeiyangX, part of Tsinghua University, in partnership with Crowdfund Insider.
WeiyangX is the most influential website focusing on Fintech in China. The site covers the latest news, industry data analysis, business practices, and in-depth Fintech cases in Fintech. WeiyangX is incubated by Fintech Lab. Founded by Tsinghua University’s People’s Bank of China (PBC) School of Finance in 2012, the Fintech Lab is the first and leading research entity dedicated to leading best practices, promoting interdisciplinary innovation, and encouraging entrepreneurship in the field of fintech through scientific research and innovative project incubation.