China: WeiyangX Fintech Review

“Banking Financial Institutions Joint Declaration for the Support for the Protection of Biodiversity” Released in Kunming

On October 15th, 36 Chinese banks and 24 foreign banks and international organizations signed up for the “Banking Financial Institutions Joint Declaration for the Support for the Protection of Biodiversity”. The document was released at the “Ecological Civilization Forum” during the 15th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP15) in Kunming. (Source: China Banking Association)

China Encourages Leading Agricultural Companies to Strengthen Blockchain-based Traceability System 

On October 22nd, the Ministry of Agriculture and Rural Affairs issued the “Opinions on Promoting Agricultural Industrialization of Leading Enterprises”, encouraging leading enterprises to apply blockchain technology, strengthen product traceability system construction, and improve the digital development capabilities of leading enterprises. (Source: Ministry of Agriculture and Rural Affairs)

AI Infrastructure Provider RealAI Secures 300-million-yuan A Round of Financing

On October 28th, RealAI announced that it has completed a 300-million-yuan A round of investment from Ant Group, Delta Capital, Koala Fund, and other institutions. Established in July 2018, RealAI was initiated by the Institute of Artificial Intelligence of Tsinghua University.

As a secure and controllable AI infrastructure and solution provider, RealAI has secured four rounds of investment. According to RealAI, the newly injected capital will be used to increase investment in R&D of AI security, privacy computing and other safe and controllable artificial intelligence infrastructure platform products, strengthen team building, etc., and promote the implementation of large-scale scenarios. (Source: WeiyangX)

72% of Metro Passengers in Shenzhen Pay Their Fares by Mobile Payment

China Academy of Transportation Sciences and the Social Sciences Academic Press has recently released “Urban Rail Transit Blue Book: China Urban Rail Transportation Development Report (2020 ~ 2021)” in Beijing. According to the book, Shenzhen Metro actively advocated contactless payment (e.g. QR code payment) during the epidemic. Data show that 72% of Shenzhen Metro passengers pay their fare through mobile payment in December 2020, a 17% increase compared with 55% in December 2019. (Source: mpaypass)

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 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.

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