ADGM, the international financial centre, signed a Memorandum of Understanding (MoU) with Beijing Financial Street Service Bureau. As explained in the update, this latest agreement reinforces the commitment to fostering connections, particularly in the areas of international “development and industry promotion, further advancing the growth… Read More
Mastercard (NYSE: MA) announced that its joint venture entity, Mastercard NUCC Information Technology (Beijing) Co., Ltd., has received formal approval from the People’s Bank of China (PBOC) and the National Administration of Financial Regulation (NAFR) in order “to commence domestic bankcard clearing activity in China.”… Read More
Thunes, the global B2B payment infrastructure platform, today announced the inauguration of its new office in Beijing, China. This strategic move signifies Thunes’ commitment “to empowering Chinese businesses and consumers by providing faster and more affordable transactions with key international markets.” The opening ceremony of… Read More
In April of last year, China had started testing out the the virtual yuan, becoming one of the first world governments to issue a Central Bank Digital Currency (CBDC). CBDCs like the virtual renminbi are government-issued, blockchain or distributed ledger tech (DLT)-enabled versions of a… Read More
Chinese authorities have increased their scrutiny of the nation’s Fintech sector. China’s regulators have now cracked down on JD Technology’s (potentially) $3 billion initial public offering. JD Technology, the Fintech division of Chinese digital commerce giant JD.com Inc., is reportedly looking into withdrawing its application… Read More
China’s reserve bank has issued the nation’s second license for collecting personal credit ratings to an initiative between a state-managed enterprise and two Internet companies. The move suggests that the Chinese government may want to get involved in deciding how technology interacts with finance (while… Read More
Red Date Technology and Digital Asset (the company) have reportedly entered an agreement that involves integrating DAML smart contract tech with China’s Blockchain Services Network (BSN). DAML, which is a blockchain “agnostic” smart contract programming language created by the company Digital Asset, will serve as… Read More
Critical gaps in the global banking system, especially in emerging markets, have restricted business growth and development. Consumer demand cannot be effectively addressed if banking platforms are not updated to meet the requirements of individuals and small business owners. Billions of people across the globe… Read More
The developers and management TikTok, a leading Chinese video-sharing social network, are reportedly branching out into the financial services sector with the owners of the Oversea-Chinese Banking Corporation, Limited (OCBC) Bank (SGX: O39), a multinational banking and financial services corporation. Beijing-based ByteDance, a Chinese multinational… Read More
The People’s Bank of China (PBoC), the nation’s reserve bank with around $3.2 trillion in assets, recently announced the second batch of Fintech initiatives that will take part in a pilot program involving new regulations. The pilots will take place in China’s capital, Beijing, and… Read More
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
Points Technology, an artificial intelligence (AI) and blockchain-focused firm, has reportedly acquired millions of dollars in funding through a Series A round. K2 Venture Partners, a Chinese venture capital firm, made the investment. Points Technology’s management said that the funds raised will be used to… Read More
China’s capital Beijing has revealed that the city’s tax department will introduce blockchain or distributed ledger technology (DLT)-powered invoicing. The new service was reportedly launched on March 2, 2020. Officials in Beijing said they are planning to take advantage of DLT’s unique transparency, traceability and… Read More
“Beijing Tong,” a mobile-based app developed and released by Beijing’s municipal government, has reportedly registered data from more than 1,000 local business offices on its “menu blockchain” system. Confirming the development on January 11, 2020, during a scheduled session of the Municipal People’s Congress, Feng… Read More
China’s “smart” courts have reportedly been implementing various innovative technologies such as blockchain and artificial intelligence (AI) to help decide legal cases. Local media outlet Xinhua news revealed recently that over 3.1 million Chinese litigation matters from March to October 2019 were handled via the… Read More
China’s central bank announced on December 5 that it’s planning to support the nation’s capital city Beijing in exploring and experimenting with various regulatory guidelines for the evolving Fintech industry in order to develop a more inclusive and suitable supervision framework. The nation’s Fintech regulation… Read More
Authorities in China continue to crack down on crypto-related businesses. Recently, the nation’s police officials closed down local digital asset exchange BISS and took 10 people into custody, as they were suspected of being involved in the trading platform’s business operations. On November 22, 2019,… Read More
China’s Global Times has reported that the country established a foundation focused on financial and technology mergers and acquisitions throughout Asia. Asia Fintech Fund of Funds (FOF) is based in Beijing and has 10 billion yuan (approximately $1.44 billion) in funding. Asia Fintech is the second… Read More
In Shanghai and Shenzhen, administrations for industry and commerce have suspended the registration of Internet finance platforms, according to the Beijing Business Today in ECNS.cn. The publication also notes that in Beijing, the Administration for Industry and Commerce also released a similar statement. However, this has not… Read More
China recently noted that it will promote greater use of equity crowdfunding for startups to encourage entrepreneurship, according to a Cabinet document posted on the central government’s website, writes the South China Morning Post. Repeatedly, the Chinese government has stated its interest in stimulating employment in the state-dominated… Read More
Crowdfund Insider is the leading news website covering the emerging global industry of disruptive finance including investment crowdfunding, Blockchain, online lending, and other forms of Fintech.
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