Tagged: alibaba

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 18, 2019 @ 4:13 pm By Cali Haan  |  

Cybersecurity firm Palo Alto Networks’ Unit 42 “global threat intelligence team” has identified a new exploit illegally mining Monero cryptocurrency on Chinese public cloud networks: “Palo Alto networks recently captured and investigated new samples of the Linux coin mining malware used by the Rocke group…. Read More

January 14, 2019 @ 3:47 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Monday it is now powering the Pay Later Financing option for U.S. customers of Alibaba.com. According to Kabbage, Alibaba Group’s (NYSE: BABA) online platform for global B2B trade and the Pay Later option allows millions of U.S. small businesses… 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 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 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

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 18, 2018 @ 9:20 pm By Cali Haan  |  

The People’s Bank of China admitted today that it is responsible for coordinating and initiating a spate of recent measures designed to quash cryptocurrency and ICO (initial coin offering) activity China. The bank says its National Internet Financial Risk Special Remediation Leading Group has been orchestrating… Read More

June 8, 2018 @ 8:19 pm By Samantha Hurst  |  

Chinese fintech and Alibaba-affiliated Ant Financial Service Group announced on Friday it secured approximately $14 billion through its Series C Equity Funding round, which includes an RMB tranche raised by the company from domestic investors and a USD tranche raised by Ant international Co., Limited, a wholly… Read More

May 12, 2018 @ 10:32 am By Xu Gao  |  

PBOC Bans Unauthorized APP to Access Credit Rating System Recently, the People’s Bank of China (PBOC), China’s central bank, issued a document named, “Notice on Further Strengthening the Management of Credit Information Security” (Yinfa [2018] No. 102) (hereinafter referred to as “Document No. 102”), to… Read More

April 16, 2018 @ 7:48 pm By Cali Haan  |  

According to 8btc, Gao Xiaosong, host of the #1 talk show in China and Chairman of Alibaba Music, defended cryptocurrencies in an episode of “Morning Call” aired last Friday. “I cannot figure out why so many people are mean to virtual currency. (After all) currencies… Read More

April 11, 2018 @ 4:08 pm By Samantha Hurst  |  

Chinese fintech and Alibaba-affiliated Ant Financial is preparing to launch a private funding round in order to secure up to $9 billion. According to various reports, the company is increasing the funding target from previous funding rounds that sought up to $5 billion. Ant Financial’s previous fundraising round… Read More

March 19, 2018 @ 11:04 am By Samantha Hurst  |  

Qupital, a Hong Kong-based trade finance platform, announced last week it has signed a financial strategy agreement with Alibaba. According to Qupital, The collaboration enables qualified Gold Supplier members of Alibaba to free up working capital easier through its platform. It was also reported: “Under this agreement, Alibaba Gold… Read More

March 3, 2018 @ 2:02 pm By Xu Gao  |  

China Issues its First Personal Credit Rating License On February 22, the People’s Bank of China published an announcement about setting up personal credit rating agencies. According to the document, Baihang Credit Rating Co., Ltd., was granted the first personal credit rating license in China,… Read More

January 3, 2018 @ 10:10 am By JD Alois  |  

Ant Financial, part of tech conglomerate Alibaba, announced its intent to purchase MoneyGram (NASDAQ: MGI)  a year ago. The acquisition would have combined MoneyGram’s money transfer network of 2.4 billion bank and mobile accounts with Alibaba’s fast growing global Fintech presence. MoneyGram is currently active in… Read More

December 2, 2017 @ 12:37 pm By Xu Gao  |  

People’s Bank of China Official Shares Opinions About Fintech Sandbox During the third development forum held by Shanghai Payment & Clearing Association, Li Wei, head of the People’s Bank of China (PBOC) science and technology division, highlighted the importance of setting up trial-and-error mechanisms for… Read More

November 25, 2017 @ 11:23 am By Xu Gao  |  

Robo-advisors Now Required to Gain License to Operate in Mainland China On November 17th, top financial regulators in mainland China (including PBOC, CBRC, CSRC, CIRC and SAFE) released a new set of rules covering the country’s asset management market. It is the first time that… Read More

November 7, 2017 @ 10:33 pm By JD Alois  |  

One of the fastest growing Fintech’s in China has raised USD $220 million. WeLab, a Hong Kong-based mobile lending platform founded in 2013, has closed funding round of $220 million including both strategic debt and equity funding with the backing of Alibaba Hong Kong Entrepreneurs Fund,… Read More

October 27, 2017 @ 1:44 pm By Samantha Hurst  |  

Chinese fintech and Alibaba-affiliated Ant Financial revealed this week it is putting its Initial Public Offering (IPO) plans on hold and is now focused on investing in more startups and artificial intelligence (AI). The news of Ant Financial’s plans comes less than a year after… Read More