Search Results for: Jinping

November 12, 2020 @ 4:43 pm By JD Alois  |  

Ant Group was expected to be the largest Fintech initial public offering (IPO) ever at a valuation of around $35 billion. With just days until a listing on both the Shanghai Exchange and the Hong Kong Stock Exchange, regulators in China slammed the breaks on… Read More

October 29, 2019 @ 4:23 pm By Cali Haan  |  

Chinese state news site The People’s Daily is advising Chinese investors to be “rational” despite excitement raised by President Xi Jinping’s recent remarks endorsing, “accelerate(d) development of blockchain technology and industrial innovation.” According to Reuters, The People’s Daily urged Monday: “Blockchain’s future is here but… Read More

October 25, 2019 @ 9:32 am By JD Alois  |  

China’s General Secretary Xi Jinping has commented on the importance of blockchain technology noting that China plans to lead the world in the development of blockchain including financial services and other areas. According to Xinhua, yesterday, at the 18th collective study of the Political Bureau… Read More

May 30, 2018 @ 4:30 pm By Cali Haan  |  

In yet another blockchain news item emanating from China this week, multiple reports are sharing that China’s potential “president for life,” Xi Jinping, recently named blockchain as one of a triumvirate of new technologies (including IoT and AI) that will drive, “a new industrial revolution.”… Read More

January 17, 2024 @ 10:28 am By JD Alois  |  

Once one of the largest peer-to-peer lenders in the world, China’s Lufax (NYSE:LU) has hit an all-time low trading on the NYSE. The bid-ask of shares is around $2.17. A year ago, it was trading at over $10 a share, thus delivering a spectacular collapse… Read More

May 15, 2023 @ 3:41 pm By JD Alois  |  

At one point, China was the top Fintech jurisdiction in the world, dominating online lending and other Fintech verticals along with a robust digital asset sector. That was then, and this is now – Fintech has been siloed into specific, approved businesses, and cryptocurrencies are… Read More

March 21, 2022 @ 11:30 pm By Omar Faridi  |  

Financial regulators in China, including the nation’s reserve bank, and the Zhejiang provincial government are reportedly supporting “controllable risks” in the country’s digital commerce hub in order to promote Fintech innovation. This, according to a government update reviewed by the SCMP. The People’s Bank of… Read More

January 4, 2022 @ 5:52 pm By JD Alois  |  

The People’s Bank of China has commented on the country’s “Fintech Development Plan” (2022 to 2025). The PBC states that the plan is formulated in accordance with the “Fourteenth Five-Year Plan for National Economic and Social Development of the People’s Republic of China and the… Read More

May 22, 2021 @ 8:51 am By Omar Faridi  |  

The team at BitOoda, a global digital asset financial technology and services platform offering risk management solutions, “best-execution” brokerage and market analysis, notes that in China, Vice Premier Liu He, in a meeting of the Financial Stability and Development Committee, had stated on Friday (May… Read More

December 31, 2020 @ 5:35 pm By JD Alois  |  

2020 was a challenging year for the entire world. The ongoing health crisis surprised everyone as the world dove into a pandemic, pummeling the global economy and impacting everyone. In many respects, Fintech emerged as a beneficiary of COVID-19. Digital transformation of financial services were… Read More

November 26, 2020 @ 4:27 pm By Omar Faridi  |  

Alibaba founder Jack Ma’s plans to establish Fintech companies like Ant Group and launch IPOs in China were recently put on hold when the country’s regulators decided to make updates to regulatory requirements. As reported recently, Daniel Zhang, Chairman of Alibaba Group Holding (NYSE:BABA), noted… Read More

November 23, 2020 @ 9:48 pm By Omar Faridi  |  

The management at Alibaba Group Holding (NYSE:BABA) has stated that they are planning to comply with China’s updated Fintech regulations after the nation’s changing regulatory environment led to Ant Group‘s initial public offering (IPO) getting suspended. Daniel Zhang, Chairman of Alibaba Group, noted during a… Read More

November 15, 2020 @ 3:35 pm By Omar Faridi  |  

China must ensure that financial innovation is able to maintain fair competition and doesn’t lead to the formation of oligopolies or entry barriers, according to Xiao Yuanqi, chief risk officer at the China Banking and Insurance Regulatory Commission (CBRIC). Xiao, whose comments came during the… Read More

November 4, 2020 @ 1:44 pm By JD Alois  |  

In a crushing move by the Shanghai Stock Exchange, Ant Group’s highly anticipated listing on the exchange was suspended, hitting pause on what was poised to be the largest public offering of a Fintech ever. Ant Group was planning to simultaneously list on both the… Read More

October 14, 2020 @ 6:40 pm By Omar Faridi  |  

Bitcoin (BTC), the flagship cryptocurrency, has again surged past the $11,000 mark as US stimulus talks begin and institutions start to allocate more funds to the leading digital asset. As noted by the OKCoin team, Bitcoin has managed to break out this past week, after… Read More

August 15, 2020 @ 3:09 pm By Omar Faridi  |  

Peer to peer (P2P) investors based in China are reportedly facing losses of over 800 billion yuan (appr. $115 billion) in unpaid debt, due to failed lending platforms, according to the head of the nation’s banking industry regulator. Guo Shuqing, chairman of the Chinese Banking… Read More

July 2, 2020 @ 11:02 am By JD Alois  |  

The Beijing Municipal People’s Government has posted Beijing’s Blockchain Innovation Development plan outlining its intent to “accelerate the development of blockchain technology and industrial innovation.” [translated] The goal is to promote blockchain and accelerate its growth in its utilization across various sectors of the economy…. Read More

May 25, 2020 @ 11:44 am By Omar Faridi  |  

The National People’s Congress (NPC), China’s parliament and the Chinese People’s Political Consultative Conference recently began conducting their annual sessions. Both government bodies are considered the most powerful or influential political groups in the country. These meetings are commonly referred to as the “Two Sessions”… Read More

December 27, 2019 @ 3:57 pm By Cali Haan  |  

Noting “signs of (a) resurgence of virtual currency trading activities in the country,” four finance regulators in China (the Beijing Local Financial Supervision Bureau, the People’s Bank of China Business Management Department, the Beijing Banking and Insurance Regulatory Bureau, and the Beijing Securities Regulatory Bureau)… Read More

December 22, 2019 @ 12:56 pm By Cali Haan  |  

For many reasons, China is regarded as one of the world’s make-or-break regions when it comes to the fate of “blockchain” technology and cryptocurrencies. Before Bitcoin trading was officially banned in China in late 2016, yuan-to-Bitcoin conversions (and vice versa) seemed to account for more… Read More