February 16, 2019 @ 8:50 am By Xu Gao  |  

Beijing to Start to Test “Personal Credit Score” System On January 30th, the “Opinions on Strengthening the Management of Fine Urban Management” was officially announced. According to the document, Beijing will start to test a “Personal Credit Score” system to raise the awareness for integrity… Read More

February 2, 2019 @ 10:09 am By Xu Gao  |  

Xiongan: the New Fintech Hub According to a guideline jointly issued by the Communist Party of China Central Committee and the State Council, Xiongan New Area is set to become a new center for China’s financial innovation. The guidelines said that Xiongan will “take the… Read More

January 26, 2019 @ 2:00 pm By Xu Gao  |  

Winners of the 2018 Global Fintech Venture Competition Announced in Beijing The winners of the 2018 Global Fintech Venture Competition were officially announced at the 3rd China Fintech Conference on January 20, 2019. The 2018 Global Fintech Venture Competition was initiated by Tsinghua IFR, jointly… Read More

January 19, 2019 @ 1:19 pm By Xu Gao  |  

Visa Will Establish Asia’s Second Innovation Center in Beijing It is always not easy for payment Giant Visa to enter the Chinese market. Yet, it still does not give up. According to Yu Xueli, president of Visa (Greater China), Visa is planning to set up… Read More

January 12, 2019 @ 9:02 pm By Xu Gao  |  

Tsinghua PBCSF Releases “2018 Global Insurtech Report by Subsector” Early this month, the China Insurance and Pension Research Center of the National Finance Research Institute of Tsinghua University released the “2018 Global Insurtech Report by Subsector“. The report provides case studies of Insurtech companies in… Read More

December 29, 2018 @ 12:00 pm By Xu Gao  |  

Another Fintech Incubation Center Officially Begins Operation in Guangdong Province On December 20th, the Fintech incubation center (hereinafter referred to as “incubation center”) of Guangdong Financial High-tech Zone was officially put into operation, which will provide office space, policy guidance, project financing supports for Fintech… Read More

December 22, 2018 @ 2:12 pm By Xu Gao  |  

Hong Kong Insurance Regulatory Authority Issues First Virtual Insurance License Under Fast Track On December 20th, Hong Kong Insurtech Bowtie announced that it has obtained the first virtual insurance company license issued by the Hong Kong Insurance Authority under Fast Track. Bowtie was founded by… Read More

December 15, 2018 @ 9:41 am By Xu Gao  |  

HKEX Will Introduce Blockchain and AI to Increase Automation HKEX will announce its three-year strategic plan for 2019-2021 early next year. Charles Li, chief executive of HKEX, said that there were still many business procedures in HKEX relying on manpower. In the future, HKEX will… Read More

December 8, 2018 @ 5:00 pm By Xu Gao  |  

Financial Authorities Ban STOs in Beijing On December 1st, at the 2018 Global Wealth Management Forum, Huo Xuewen, director of the Beijing Municipal Bureau of Financial Work, warned that STO activities in Beijing would be seen as illegal. He said: “A new concept called STO… Read More

December 1, 2018 @ 9:00 am By Xu Gao  |  

Sesame Credit Accepted for Canadian Visa Application This week, the Canadian Immigration Department (IRCC) announced that Chinese tourists can choose to submit his/her Sesame Credit Visa report (≥750 points) as financial proof for Canadian visa application. Sesame Credit is credit-assessment service offered by Ant Financial,… Read More

November 24, 2018 @ 9:32 am By Xu Gao  |  

Ping An Invests $47 million in Berlin-based Fintech Startup Finleap On November 20th, Ping An, one of China’s largest financial groups, announced its first entry into the European market. The Ping An Insurance Group’s Global Voyager Investment Fund led a €41.5 million ($47 million) investment… Read More

November 17, 2018 @ 12:09 pm By Xu Gao  |  

Beijing publishes Fintech Development Plan (2018-2022) Recently, the Zhongguancun Administration Committee, the Beijing Financial Work Bureau and the Beijing Municipal Science and Technology Committee jointly issued the “Promotion of Financial Technology Development Plan (2018-2022)” (hereinafter referred to as “plan”). The goal of the plan is,… Read More

November 10, 2018 @ 9:26 am By Xu Gao  |  

IFR of Tsinghua University Launches Global Fintech Venture Competition (2018) at the 5th World Internet Conference On November 8, the 2018 Global Fintech Venture Competition (hereinafter referred to as the “Competition”) was officially launched at the Fintech and Credit Society Construction Forum of the 5th… Read More

November 3, 2018 @ 11:29 am By Xu Gao  |  

Hong Kong Monetary Authority Launches Blockchain-based Trade Finance Platform TradeConnect The Hong Kong Monetary Authority (hereinafter referred to as the HKMA) announced on October 31st that it had launched a blockchain-based trade finance platform TradeConnect, in order to facilitate cross-border trade and related research. TradeConnect… Read More

October 27, 2018 @ 12:00 pm By Xu Gao  |  

Online Brokerage Futu Securities Reported to File with U.S. Regulators for IPO Bloomberg quoted people familiar with the matter that Chinese online brokerage Futu Securities had secretly submitted an IPO application in the US, and the fundraising scale could reach at least $300 million. Futu… Read More

October 20, 2018 @ 9:41 am By Xu Gao  |  

Xiaomi Eyes Consumer Financing and B2B Lending in India Chinese smartphone giant Xiaomi plans to enter the consumer finance and business-to-business (B2B) loan market in India. Xiaomi has followed the Indian company law and established a non-bank financial institution “Xiaomi Financial Services India” to apply… Read More

October 13, 2018 @ 11:54 am By Xu Gao  |  

Alibaba Submits Blockchain Patent Applications that Allow “administrative intervention” On October 6th, Chinese e-commerce giant Alibaba applied for a blockchain system patent, allowing third-party administrators to perform “special treatment” (e.g. suspend a smart contract or freeze an account associated with an illegal activity). For example,… Read More

September 29, 2018 @ 11:18 am By Xu Gao  |  

Bitcoin Mining Giant Bitmain Goes Public in Hong Kong On September 26th, Bitmain, a Beijing-based Bitcoin mining giant, finally disclosed its IPO prospectus to be listed on the Hong Kong Stock Exchange. CICC will serve as the sole sponsor. According to the prospectus, Bitmain’s net… Read More

September 22, 2018 @ 6:58 pm By Xu Gao  |  

Shanghai Information Security Evaluation and Certification Center is Working on the Establishment of Blockchain Technical Security Standards According to a report called “Safety issues under the rapid development of the “blockchain +” industry”, blockchain security problems in 2018 have caused $2 billion in asset losses… Read More

September 15, 2018 @ 7:00 pm By Xu Gao  |  

Beijing Launches Internet Court, Accepting and Hearing Cases of Online Lending On September 9, Beijing unveiled its Internet court. The court, located in Fengtai District, mainly accepts cases regarding the Internet and intellectual property rights, including disputes caused by online loans, online shopping contracts, and… Read More