Tagged: china

July 23, 2020 @ 12:18 pm By Omar Faridi  |  

Open-source blockchain platform Nervos announced on July 22, 2020 that it’s planning to integrate with China’s Blockchain-based Services Network (BSN). Nervos claims that it will be one of the first public blockchains to join the distributed ledger technology (DLT)-powered network. As mentioned in a release… Read More

July 21, 2020 @ 11:55 pm By Omar Faridi  |  

Cities throughout China are planning to begin testing (or already are) the country’s central bank digital currency (CBDC). Scammers have reportedly been impersonating CBDC testing groups. Tencent QQ reports that criminals have been promoting a scam that asks unsuspecting Chinese residents to sign up for… Read More

July 21, 2020 @ 10:34 pm By Omar Faridi  |  

The People’s Bank of China (PBoC), the nation’s central bank that’s also tasked with managing monetary policy and the regulation of financial institutions in mainland China, has reportedly added Chengdu, the capital of the Sichuan province, to its list of approved regions for conducting Fintech… Read More

July 20, 2020 @ 9:33 pm By Omar Faridi  |  

The global COVID-19 crisis has forced many businesses to either shut down or make significant changes to their business models. Individuals and companies are increasingly using digital platforms and services to conduct transactions or complete routine tasks that they normally carried out at physical locations…. Read More

July 20, 2020 @ 9:05 am By JD Alois  |  

Ant Group (formerly Ant Financial) plans to execute concurrent listing on Shanghai Stock Exchange’s STAR market and The Stock Exchange of Hong Kong, according to a company release. The news of a pending initial public offering (IPO) was previously reported as word of the listing… Read More

July 19, 2020 @ 8:29 pm By Omar Faridi  |  

A recent blog post notes that since the COVID-19 pandemic began, there’s been a significant acceleration in digital banks and P2P wallet activity volume (during the first half of 2020). The blog states that the impact of the Coronavirus crisis has “disproportionately” affected the world’s… Read More

July 18, 2020 @ 10:04 am By Xu Gao  |  

Beijing Makes Policy Update for Startup Loans On July 13th, Beijing Municipal Human Resources & Social Security Bureau and the Business Administration Department of PBC jointly made an update for the startup-loan support policy. Eligible individual borrowers can apply for a business guarantee loan up… Read More

July 16, 2020 @ 11:04 pm By Omar Faridi  |  

The Chinese government released its very first blockchain or distributed ledger tech (DLT) application blueprint for managing government services. As noted in the blueprint documents, 140 government service applications are using some type of blockchain technology. These software applications include data sharing and exchange services,… Read More

July 15, 2020 @ 11:10 am By Samantha Hurst  |  

China Finance Online Co. Limited (NASDAQ GS: JRJC), a web-based financial services company that provides Chinese retail investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, announced… Read More

July 11, 2020 @ 9:59 am By Xu Gao  |  

People’s Bank of China Digital Currency Research Institute and Didi reached a strategic cooperation to explore the application of digital currency The Digital Currency Research Institute of PBC and Didi Travel have officially reached a strategic cooperation agreement to jointly explore the innovation and application… Read More

July 9, 2020 @ 9:33 pm By Omar Faridi  |  

Tencent Cloud, the cloud computing division of Tencent Holdings, a major provider of internet value-added services in China, revealed on July 8, 2020, that it has committed to a Memorandum of Understanding (MoU) with Singapore’s Asia Digital Bank Corporation (ADBC). As mentioned in a release,… Read More

July 9, 2020 @ 3:56 pm By Omar Faridi  |  

Chinese e-commerce platform Meituan, which has more than 240 million customers and works with 5 million local merchants, has reportedly begun working cooperatively with several banks in China that are involved in the development of the digital yuan. Bilibilibili, which is China’s largest video sharing… Read More

July 7, 2020 @ 11:30 pm By Omar Faridi  |  

The ongoing U.S.-China trade wars and the COVID-19 outbreak have negatively impacted China’s $11-$13 trillion economy, however, the nation’s technology sector continues to develop rapidly. The country’s tech industry is supported by $616 billion in research and development (R&D) resources. In addition to investing in… Read More

July 6, 2020 @ 11:51 am By JD Alois  |  

China’s crackdown of the peer to peer lending industry appears to be ongoing with a report today that Weidai, (NYSE:WEI) a P2P platform that raised $45 million in an initial public offering (IPO) on the New York Stock Exchange, is said to be under investigation…. Read More

July 5, 2020 @ 8:00 pm By JD Alois  |  

Hong Kong as jurisdiction was slow out of the gate when it came to Fintech innovation. But this initial hesitancy was soon made up by a dedicated public-private partnership determined to establish Hong Kong as a top Fintech hub – a successful move. InvestHK, a… Read More

July 5, 2020 @ 12:19 pm By Xu Gao  |  

2020 CB Insights China Fintech 50 List Released On June 29th, CB Insights China announced the first CB Insights China Fintech List (the List) at the “Future of Fintech China” summit in Shanghai. Fintech companies were evaluated based on a unique DPTC system, namely Depth,… Read More

July 3, 2020 @ 1:54 pm By Omar Faridi  |  

JD Digits, the Fintech-focused division of Chinese online marketplace JD.com, is reportedly planning to conduct an initial public offering (IPO) at China’s STAR Market, which is based in Shanghai. This, according to a filing submitted by several securities companies. As first reported by TechNode, the… Read More

July 2, 2020 @ 6:18 pm By Omar Faridi  |  

Fintech firm Akulaku confirmed recently that it’s planning to offer digital banking services in Southeast Asia. The company was launched around four years ago and is now focused on expanding its operation into the digital banking sector. As reported in November 2018, Akulaku, a leading… Read More

July 2, 2020 @ 4:32 pm By Omar Faridi  |  

An International Monetary Fund (IMF) official recently noted that China’s Fintech sector could be “instrumental” in assisting SMEs with acquiring reliable credit. The representative added that reliable loans and funding will play a key part in helping businesses get through the COVID-19 outbreak and resulting… Read More

July 2, 2020 @ 11:02 am By JD Alois  |  

The Beijing Municipal People’s Government has posted Beijing’s Blockchain Innovation Development plan outlining its intent to “accelerate the development of blockchain technology and industrial innovation.” [translated] The goal is to promote blockchain and accelerate its growth in its utilization across various sectors of the economy…. Read More