PayPal (NASDAQ: PYPL) unveiled PayPal Complete Payments, which is described as being a safe and efficient all-in-one platform that integrates a range of customized products and solutions to support Chinese merchants in selling globally. This platform streamlines payment and receivables processes “for businesses of all… Read More
Read more in: Global, Asia, Fintech | Tagged china, financial services, payments, paypal
Shanghai has unveiled an ambitious action plan to position itself as a global Fintech hub, with 31 measures aimed at upgrading the city’s financial technology landscape over the next three to five years. The action plan, released by the municipal government on Friday, outlines a… Read More
Read more in: Fintech, Asia | Tagged cbdc, china, digital yuan, fintech hub, shanghai
House Financial Services Committee Republicans have issued a statement on their efforts to “combat the economic threat from the Chinese Communist Party.” China has become more jingoist under the leadership of President Xi Jinping. The Chairman of the CCP has sought to curtail economic freedom… Read More
Read more in: Asia, Politics, Legal & Regulation | Tagged china, house financial services committee
Jingdong Technology Holding Co. Ltd., the fintech arm of Chinese e-commerce giant JD.com, is poised to acquire Home Credit Consumer Finance Co. Ltd., China’s first wholly foreign-owned consumer finance firm, according to sources cited by Caixin. The acquisition, which awaits approval from the National Financial… Read More
Read more in: Asia, Fintech | Tagged china, consumer finance, Home Credit, jd.com
Financial technology (fintech) investments in China showed a modest recovery at the end of 2023 and continued into 2024, according to KPMG’s Pulse of Fintech H1’24 report. Among the top ten fintech deals in the Asia-Pacific (APAC) region, five were from Mainland China and Hong… Read More
Read more in: Asia, Fintech | Tagged china, consumer finance, crypto, fintech, kpmg
China’s supreme court has updated its interpretation of the nation’s Anti-Money Laundering (AML) laws in order recognize “virtual asset” transfers for the first time ever. China passed its AML law on January 1, 2007, making the most recent update its first major one in 20… Read More
Read more in: Blockchain & Digital Assets, Asia, Politics, Legal & Regulation | Tagged aml, china, Crypto Transactions, vasps
Chinese tech giant Tencent has reportedly decided to cash in its stake in UK neobank Tide as part of an overall retreat from its global investments strategy. Tencent has reportedly offloaded its shares to an unidentified buyer or group of buyers. Tencent, known for its… Read More
Read more in: Asia, Fintech, Global | Tagged china, investments, tencent, tide, uk
Fintech investments in China made a modest recovery towards the end of 2023 and trickled over into 2024. Among the top ten fintech deals in ASPAC, five originated from Chinese Mainland and Chinese Hong Kong. Despite the regulatory hiccups in China, fintech is poised “to… Read More
Read more in: Asia, Fintech | Tagged apac, china, Fintech Investments, kpmg, research
PBOC and HKMA has reportedly signed an MOU that is focused on cross-boundary linkage of payment systems between the Mainland and Hong Kong. Mr Lu Lei, Deputy Governor of the People’s Bank of China (PBOC), and Mr Howard Lee, Deputy Chief Executive of the Hong… Read More
Read more in: Asia, Fintech, Politics, Legal & Regulation | Tagged china, hkma, hong kong, payments, pboc
The Monetary Authority of Singapore (MAS) has announced a consultation on transfers to the People’s Republic of China (PRC), including the current suspension of “non-specified channels.” The suspension, pertaining mostly to PRC nationals working in Singapore, is in regard to accounts and funds that were… Read More
Read more in: Asia, Politics, Legal & Regulation | Tagged china, consultation, mas, singapore, transfers
Deutsche Bank has launched BASF’s first sustainability-linked payables finance program in Asia, with a focus on its operations in China. The solution meets global standards and has “been tailored to suit local business requirements.” The program will support BASF’s activities in China. The solution provided… Read More
Read more in: Fintech, Asia, Global | Tagged basf, china, deutsche bank, finance, payables, sustainability
Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce that it has signed a cooperation agreement with a unit of Shenzhen Stock Exchange (SZSE), to support the development of HKEX’s Integrated Fund Platform (IFP). This cooperation will see Shenzhen Securities Communication Co. Ltd… Read More
Read more in: Asia, Fintech | Tagged china, hkex, hong kong, integrated fund platform, shenzhen stock exchange
Currencycloud, which focuses on simplifying business in a multi-currency world, and Pyvio, the fintech building ‘Glocal’ financial services infrastructure, have announced a partnership offering efficient and cost-effective cross-border payment solutions for Chinese e-commerce businesses operating in emerging markets. The partnership will allow Pyvio to leverage… Read More
Read more in: Fintech, Asia, Global | Tagged china, currencycloud, payments, pyvio
It’s now possible to use digital currency in China in order to save carbon credits. Industrial Bank‘s digital RMB application use-cases continue to expand. Recently, it was reported that Industrial Bank has introduced a new service. This is for newly opened real-name Industrial Bank wallet… Read More
Read more in: Blockchain & Digital Assets, Asia, Fintech | Tagged carbon credits, china, digital currency, industrial bank
Every economic cycle has its “currency war,” according to an update from iBanFirst. In the 1920s, France, Germany, and Belgium “devalued their currencies to return to the gold standard, which had been abandoned during World War I.” In the 1930s, major global economies “resorted to… Read More
Read more in: Fintech, Global, Opinion | Tagged china, global currencies, ibanfirst, payments, research
The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) discussed initiatives to advance cooperation in green and transition finance between China and Singapore at the 2nd China-Singapore Green Finance Taskforce (GFTF) meeting held on 20 May 2024. The initiatives discussed covered… Read More
Read more in: Asia, Fintech | Tagged china, digital financial services, mas, singapore
The Hong Kong Monetary Authority (HKMA) has launched the digital yuan, also known as e-CNY,marking a significant step in the integration of digital currencies in the region’s financial system. According to reports from Sing Tao Daily, the launch event was hosted by Howard Lee Tat-chi,… Read More
Read more in: Fintech, Asia | Tagged cbdc, china, digital yuan, hong kong, hong kong monetary authority, payments
On May 13, 2024, President Biden issued an order prohibiting the purchase and requiring the divestment of certain real estate operating as a cryptocurrency mining facility located within one mile of Francis E. Warren Air Force Base (F.E. Warren AFB). The order also requires the… Read More
Read more in: Blockchain & Digital Assets, Politics, Legal & Regulation, Real Estate | Tagged china, executive order, joe biden, MineOne Partners, mining, real estate
This week WorldFirst, a digital payment and financial services platform for global businesses, launched WorldTrade, a payment solution for global sourcing to bolster the security and speed of cross-border payment for international SMEs that procure goods from suppliers based in China. WorldTrade employs smart contract-fulfillment… Read More
Read more in: Asia, Fintech | Tagged china, Ma Qisheng, payments, worldfirst, WorldTrade
Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce it has reached an agreement with Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE) in order “to expand the scope of eligible exchange-traded funds (ETFs) under Stock Connect.” The eligibility criteria for ETFs… Read More
Read more in: Asia, General News, Global | Tagged china, etfs, hkex, hong kong, shanghai
© 2024 Crowded Media Group. All Rights Reserved.