People’s Bank of China Publishes Trial Regulatory Measures on Financial Holding Companies On July 26th, the People’s Bank of China (PBC) published the Trial Measures on Supervision and Regulation of Financial Holding Companies (Exposure Draft) (hereinafter referred to as the Measures) and sought for feedback… Read More
Min Zhu: Libra is not Alipay. Its core concept is currency. On July 1st, the 13th Annual Meeting of the New Champions (also known as the Summer Davos Forum) in Dalian, China. Min Zhu, Chair of Tsinghua National Institute of Finance Research and former vice… Read More
Beijing: unpaid parking fees may be included in your personal credit report Since January 2019, the Beijing Municipal Commission of Transport has introduced digital payments for all curb parking areas in Dongcheng District, Xicheng District and Tongzhou District, and is planning to extend it to… Read More
QEDIT, a provider of zero knowledge proof blockchain, has announced a new partnership with Ant Financial, VMWare and RGAX – a subsidiary of the Reinsurance Group of America. The announcement follows a significant $10 funding round led by MizMaa Ventures with participation from Ant Financial,… Read More
PBC Holds 2019 National Currency, Gold and Silver Work Conference On February 21, 2019, the 2019 National Currency, Gold and Silver Work Conference of the People’s Bank of China (PBC) was held in Xiamen, Fujian. The conference comprehensively summarized the achievements of the currency, gold… Read More
Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, has reportedly acquired UK payments firm, WorldFirst, to further advance its global expansion efforts. This news comes less than a couple of months after Ant Financial began acquisition talks. It was… Read More
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
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
Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, is reportedly in talks to acquire UK payments firm, WorldFirst, for $700 million. According to Sky News, Ant Financial has been in talks to purchase WorldFirst for the past several months. … Read More
Digital payment platform Alipay announced on Friday it has formed a new eight-year global partnership for all Union of European Football Associations (UEFA) national team football competitions from 2018 to 2026. Alipay reported that it has become the official global payments partner for the UEFA and will be at all… Read More
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
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
International Financial Corporation (IFC), a member of the World Bank Group, and Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, announced on Monday the launch of their new 10×1000 Tech for Inclusion program at the 2018 Annual Meetings… Read More
Xiaomi Intends to Set Up a Virtual Bank According to a report from HKEJ on August 20, the Fintech branch of Xiaomi Group – Insight Technology (Dongjian Keji)- is intending to apply for a Hong Kong virtual banking license, hoping to submit documents before the end… Read More
Ant Fortune Announces the Launch of One-Stop Pension Service with First Batch of 14 Pension Funds On August 14, Ant Fortune announced that it will launch a series of pension products and services based on open + AI technology. In the future, users could get… Read More
China and South Korea’s Financial Regulatory Agencies Reach Cooperation on Cryptocurrencies and Other Issues According to Chosun’s report last week, Yoo Kwang-yeol, the first senior vice president of the Korea Financial Supervision Service (FSS), recently met with the vice chairman of the China Banking &… Read More
With tech titans the most valuable companies on the planet, the notion of self-regulation is no longer appropriate or fit for purpose. Is now the time for governments to step in to protect consumers and ensure a more competitive environment? The role of the technology… Read More
Chinese Fintech Enterprises Raised ¥230 billion (USD $ 2.64 billion) in the First Half of the Year The integration of technology and finance has become a major trend in the development of the financial industry. The investment enthusiasm of the capital market for financial technology… Read More
China Launches a 100-billion-yuan technology investment fund: Chinese Version of the Vision Fund? On July 2, China Merchants Group, Beijing Asset Management Corporation SPF Group and London’s Centricus Corporation announced to launch a 100-billion-yuan investment fund – “China New Era Technology Fund.” The fund aims… Read More
Ant Financial, a payments leg that services Chinese e-commerce titan Alibaba, is trialing a blockchain-based remittance channel connecting Hong Kong to the Philippines, Coindesk reports. Ant Financial made the announcement today in Hong Kong. According to a roughly-translated press release, the new system will transmit… Read More
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. If your are interested in reading our Privacy Policy you may read it here. Ok
