Tagged: china

August 5, 2019 @ 9:03 am By JD Alois  |  

Bitcoin is moving higher, once again, as the trade war between the US and China escalates. Yesterday, the Yuan dropped below 7 to the dollar with the People’s Bank of China (PBOC) blaming the decline “to unilateral trade protectionism, as well as expectations of more… Read More

August 5, 2019 @ 8:24 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Monday it has formed a new partnership with Chinese travel service provider, Caissa Travel. According to Pintec, the collaboration will bring together both companies to cooperate in consumer finance and information technology to embrace the rising… Read More

August 3, 2019 @ 12:10 pm By Xu Gao  |  

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

August 1, 2019 @ 11:20 pm By Cali Haan  |  

After its application to IPO in lapsed regulators’ hands last November in Hong Kong, Canaan, the world’s second-largest manufacturer of cryptomining hardware, has filed a confidential S-1 to pursue a US US initial public offering (IPO), according to Chinese media outlet Weixin reports. Canaan sells… Read More

August 1, 2019 @ 8:37 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 on… Read More

August 1, 2019 @ 2:52 am By Cali Haan  |  

An unnamed OTC trading desk in Moscow is selling up to $30 million USD in “tethers” per day to Chinese merchants sending proceeds home, Coindesk reports. Until 2018, the favoured currency for this type of transacting was reportedly Bitcoin, but Chinese merchants have lately started dumping… Read More

July 29, 2019 @ 1:44 pm By Samantha Hurst  |  

Tencent Holdings Limited, a leading provider of Internet value-added services based in China, announced on Monday its five-year partnership expansion with NBA in China. Tencent reported it will provide extensive NBA coverage on its platforms through the 2024-25 NBA season, including live NBA games, NBA… Read More

July 26, 2019 @ 8:45 am By Samantha Hurst  |  

China-based consumer finance platform LexinFintech announced on Friday it has been awarded the Best Lending Technology Initiative, Application or Programme in China by The Asian Banker. According to LexinFintech, The Asian Banker awards are generally viewed by executives as one of the most rigorous, prestigious and… Read More

July 22, 2019 @ 10:49 am By JD Alois  |  

Not too long ago, the Chinese peer to peer lending industry was growing at a breakneck speed and the largest online lending market in the world. This sector of Fintech was the enormous in China as big names and aspiring platforms moved quickly to fill… Read More

July 18, 2019 @ 7:59 am By Samantha Hurst  |  

China Lending Corporation (NASDAQ: CLDC), a non-bank financial corporation servicing micro, small and medium-sized enterprises in China, announced earlier this week it has entered into a five-year strategic partnership agreement with Rui Xin Insurance Technology (Ningbo) Co., Ltd, a fintech company providing comprehensive insurance solutions…. Read More

July 13, 2019 @ 2:32 pm By Xu Gao  |  

China’s State Council Approves the Research and Development of CBDC At the launching ceremony and the first academic seminar of the Digital Finance Open Research Project held on July 8th, Wang Xin, director of the Research Bureau of the People’s Bank of China, revealed that… Read More

July 12, 2019 @ 10:12 am By Cali Haan  |  

Two researchers at The Foundation for Defense of Democracies (FDD) have produced a comprehensive report on Russia, Venezuela, Iran and China’s efforts to create or exploit alternative payment systems that would allow them to circumvent the US dollar as a means of enforcing American foreign… Read More

July 10, 2019 @ 9:44 pm By Cali Haan  |  

Protestors believing they were bilked out of 200 million yuan ($29 million USD) by the cryptocurrency/blockchain project TRON occupied the offices of TRON affiliate company Raybo Monday in Beijing. The protestors were eventually “removed” from the offices by police, TRON CEO Justin Sun claimed in a response on… Read More

July 9, 2019 @ 3:26 am By Cali Haan  |  

Influential bankers convening at an academic conference at Peking University’s Institute of Digital Finance this week have expressed serious concerns about Libra, Facebook’s forthcoming cryptocurrency payments network, South China Morning Post (SCMP) reports. Wang Xin, director of the People’s Bank of China (PBOC)’s research bureau warned… Read More

July 6, 2019 @ 5:05 pm By Xu Gao  |  

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

July 5, 2019 @ 7:21 am By Cali Haan  |  

Outspoken Bitcoin and cryptocurrency critic and economist Dr Andy Xie, renowned for predicting the 1997-8 Asian currency crisis, told The Korea Times this week that Bitcoin is “a gambling instrument” primarily exploiting Asian investors and that it can never function properly as a currency. “Bitcoin… Read More

July 2, 2019 @ 3:08 pm By Samantha Hurst  |  

Chinese peer-to-peer lending platform Hexindai (NASDAQ: HX) announced on Tuesday it is set to launch a new consumer installment financing platform, called “Hexin Installments.” According to Hexindai, the platform will offer carefully curated categories for installment financing, such as electronic products, education, and travel products… Read More

June 29, 2019 @ 8:31 am By Xu Gao  |  

PBC, CBIRC Unveil White Paper on Financial Services for Smaller Businesses To comprehensively sum up the new policies, new practices and new achievements on financial services for SMBs in 2018, and to better respond to social concerns, the PBC, in cooperation with the CBIRC and… Read More

June 25, 2019 @ 7:20 am By Samantha Hurst  |  

Chinese fintech Pintec Technology Holdings Limited (PINTEC) announced on Tuesday it has formed a new partnership Bank of Ganzhou to establish a new fintech research and development center.  PINTEC reported that through the partnership, it and Bank of Ganzhou will jointly establish a fintech research… Read More

June 24, 2019 @ 8:20 am By JD Alois  |  

The peer to peer lending market in China was at one time similar to the ridiculous ICO market. Full of big promises that ended up being empty commitments. Allegations of fraud in the P2P sector in China has been far larger than the ICO sector… Read More