Chinese investment in Australia fell 36 percent to AU$1.34 billion in 2023, compared to AU$2.1 billion in 2022, with healthcare overtaking mining as the key industry. It was the second lowest year in investment value “since 2006, and the joint-lowest year in number of investment… Read More
Read more in: Asia, Global, Strategy | Tagged australia, china, investments, research
China’s central bank announced on Sunday plans to establish a substantial 500 billion yuan ($70 billion) re-lending initiative aimed at bolstering the nation’s science and technology sectors, according to a Reuters report. This move underscores the country’s commitment to fostering innovation and supporting its burgeoning… Read More
Read more in: Fintech, Asia | Tagged china, China Central Bank, peoples bank of china, Tech Lending
The Monetary Authority of Singapore (MAS) recently issued a Notice to extend, for a further six months until 30 September 2024, the suspension of the use of channels that are not specifically permitted (non-specified channels by remittance companies “when transmitting money to persons in the… Read More
Read more in: Asia, Fintech, Global, Politics, Legal & Regulation | Tagged china, mas, remittances, singapore
China witnessed the announcement of a total of 416 venture capital (VC) funding deals of worth $6.4 billion during the first two months of year 2024, which is a year-on-year (YoY) decline of 18.9% in terms of deal volume and 4.9% in terms of funding… Read More
Read more in: Asia, General News, Global | Tagged china, research, startups
Chinese Fintech firm Ant Group has announced substantial increases in transaction limits for international travelers using its cross-border payment services. Effective immediately, the single-transaction limit has been raised from $1,000 to $5,000, and the annual cumulative transaction limit from $10,000 to $50,000. This policy change,… Read More
Read more in: Asia, Fintech | Tagged ant group, china, fintech, online payments, payments
Data from Ant Group reportedly shows a robust rebound of consumer spending during the first back-to-normal Chinese New Year (CNY) travel season after the Covid-19 pandemic, especially in cross-border tourism. Through the Alipay+ cross-border mobile payment technology solutions, Chinese travelers may pay “for goods, food… Read More
Read more in: Fintech, Asia, Global | Tagged alipay, ant group, china, consumer spending
China’s venture capital (VC) market experienced a noticeable decline in January, with a total of 251 VC funding deals amounting to $2.6 billion, according to the latest analysis by GlobalData, a premier data and analytics firm. This represents an 8.4% decrease in deal volume and… Read More
Read more in: Fintech, Asia | Tagged aurojyoti bose, china, vc, venture capital
Once one of the largest peer-to-peer lenders in the world, China’s Lufax (NYSE:LU) has hit an all-time low trading on the NYSE. The bid-ask of shares is around $2.17. A year ago, it was trading at over $10 a share, thus delivering a spectacular collapse… Read More
Read more in: Asia, Fintech, General News | Tagged china, lufax, online lending, p2p, peer to peer
Investors should “buckle up” as markets are likely to be volatile in the first quarter of 2024 and could drop by up to 20% – but you could find there are more opportunities to make money, affirms the CEO of an independent financial advisory and… Read More
Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce it has signed a Memorandum of Understanding (MOU) with the People’s Government of Heilongjiang Province (Heilongjiang Government) to “strengthen cooperation and to support listings of Heilongjiang companies on Hong Kong’s equities market.” Under the… Read More
Read more in: Asia, Fintech, General News | Tagged china, hkex, hong kong, hong kong exchanges and clearing, MOU, update
The Monetary Authority of Singapore (MAS) has announced a series of new initiatives in digital finance and capital markets, aimed at strengthening financial cooperation with China. These initiatives were unveiled at the 19th Joint Council for Bilateral Cooperation (JCBC) in Tianjin, co-chaired by Singapore Deputy… Read More
Read more in: Asia, Global, Politics, Legal & Regulation | Tagged china, digital finance, monetary authority of singapore, payments, shenzhen stock exchange, singapore
A total of 2,675 venture capital (VC) funding deals were announced in China during January-October 2023 while the disclosed funding value of these deals stood at $34.6 billion. China witnessed considerable decline “in terms of both deal volume and value compared to January-October 2022,” according… Read More
Read more in: Asia, General News, Global | Tagged china, venture capital
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
Read more in: Asia, Fintech | Tagged beijing, china, financial services, formal approval, joint venture, mastercard, mastercard nucc information technology, nafrbankcard clearing, national administration of financial regulation, pboc, peoples bank of china
A landmark agreement has been reached between the Hong Kong Monetary Authority (HKMA), the People’s Bank of China (PBoC), and the Monetary Authority of Macao (AMCM), promising to revolutionize fintech cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). The “Memorandum of Understanding on Deepening… Read More
Read more in: Asia, Fintech | Tagged china, fintech, greater bay area, hong kong, macau
Maybank announced the expansion of its cross-border QR Pay service to China, one of the first in the market for a Malaysian bank, amplifying Maybank’s existing cross-border payment capabilities and enhancing the ease and efficiency of financial transactions. This initiative aims to benefit over 8… Read More
Read more in: Asia, Fintech, Global | Tagged asean, Business Expansion, china, cross-border payments, Cross-Border Transactions, digital transactions, financial services, mainland china, malaysia, maybank, southeast asia
Thunes, the global B2B payment infrastructure platform, and China Construction Bank (CCB), a commercial bank in China, have announced partnership to collaborate on cross-border payments. With the new relationship, Thunes will support the bank “to enable international payment acceptance for Chinese small to medium-sized businesses… Read More
Read more in: Fintech, Asia, Global | Tagged b2b, china, china construction bank, commercial banking, cross-border payments, financial services, fintech adoption, fintech trends, infrastructure, mainland china, payments, peter de caluwe, thunes
Hong Kong sees a larger share of transaction volume “coming in large institutional transactions of $10 million or more compared to other countries in the region — notably mainland China,” according to an update from Chainalysis. On the other end of the spectrum is South… Read More
Read more in: Asia, Blockchain & Digital Assets | Tagged blockchain adoption, blockchain analysis, chainalysis, china, Crypto Adoption, crypto report, Crypto Transactions, crypto-assets, digital assets, digital currencies, digital transactions, hong kong, mainland chain, southeast asia, virtual currency
Six months into 2023, private real estate was still “weathering ongoing macroeconomic headwinds,” according to an update shared by Pitchbook. In the US, the federal funds rate “has steadily increased since March 2022, hovering within a range of 5.0% and 5.25% as of the end… Read More
Read more in: Global, Asia, Real Estate | Tagged china, europe, financing, interest rates, mainland china, Market Report, outlook, pitchbook, property market, real estate, uk, united kingdom, united states, us
Canada has the highest growth rate of fintech adoption across six markets, according to research shared by Tipalti. A new study, conducted by Tipalti, analyzed factors “such as global fintech adoption rates, Google searches for fintech by country and the regions that have the highest… Read More
Read more in: Fintech, Global | Tagged canada, china, europe, financial services, financial technology, fintech adoption, fintech trends, research, Research Report, singapore, tipalti, uk, united kingdom
Currencycloud, the Fintech focused on simplifying business in a multi-currency world, has more than tripled its Chinese customer growth rate across Asia-Pacific since establishing its APAC headquarters in 2021, “with its Chinese client base expanding from four to 12 organisations across the region.” As one… Read More
Read more in: Fintech, Asia, Global | Tagged apac, asia pacific, Business Expansion, china, cross-border payments, currencycloud, financial servics, fintech adoption, mainland china, multi-currency transactions, rohit narang, singapore, xtransfer
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