Tagged: china

September 20, 2018 @ 1:07 pm By JD Alois  |  

According to a release from the Monetary Authority of Singapore, China and Singapore have “achieved new milestones in financial cooperation.” During the 14th Joint Council for Bilateral Cooperation (JCBC), co-chaired by Singapore Deputy Prime Minister and Coordinating Minister for National Security, Mr Teo Chee Hean,… Read More

September 19, 2018 @ 11:00 pm By JD Alois  |  

Earlier today, China based X Financial (NYSE:FXE) traded on the New York Stock Exchange (NYSE) in its initial public offering raising approximately $104.5 million as 11 million shares were floated at $9.50/share. The shares quickly jumped higher in early trading and eventually closed about 25%… Read More

September 19, 2018 @ 12:25 pm By JD Alois  |  

Chinese peer to peer lending platform X Financial (NYSE: XYF) completed its initial public offering (IPO) today trading shares on the New York Stock Exchange. Deutsche Bank Securities Inc. and Morgan Stanley & Co. were joint book runners on the IPO. The IPO saw the Class… Read More

September 18, 2018 @ 9:20 pm By Cali Haan  |  

The People’s Bank of China admitted today that it is responsible for coordinating and initiating a spate of recent measures designed to quash cryptocurrency and ICO (initial coin offering) activity China. The bank says its National Internet Financial Risk Special Remediation Leading Group has been orchestrating… Read More

September 16, 2018 @ 12:54 pm By JD Alois  |  

ITsMine, a cybersecurity company has been named one of the top 10  most innovative cybersecurity startups at China’s 2018 ISC Conference. ITsMine is a part of the  OurCrowd Labs/02, seed stage incubator portfolio, which focuses on cutting-edge tech in areas including AI, deep learning, autonomous transportation… Read More

September 15, 2018 @ 7:00 pm By Xu Gao  |  

Beijing Launches Internet Court, Accepting and Hearing Cases of Online Lending On September 9, Beijing unveiled its Internet court. The court, located in Fengtai District, mainly accepts cases regarding the Internet and intellectual property rights, including disputes caused by online loans, online shopping contracts, and… Read More

September 14, 2018 @ 11:38 am By Gagan Singla  |  

In the last couple of years, China has emerged as the global leader when it comes to the Fintech sector. It accounts for approximately 75% of the world market when it comes to online lending. It has seen tremendous growth in internet loan and third-party… Read More

September 12, 2018 @ 9:29 am By Cali Haan  |  

The founder of controversial crypto exchange OKEx has been questioned by Shanghai police regarding a case of suspected ICO fraud, Sina.com reports. The supervisor of the Shanghai Weifang Xincun Police Station, Lu Jun, issued a statement claiming that Shanghai police questioned OKEx founder Winxing (Star)… Read More

September 12, 2018 @ 8:25 am By JD Alois  |  

Invest Hong Kong (InvestHK) has shared details of its 3rd annual Hong Kong Fintech Week. The private – public partnership event which seeks to promote Hong Kong’s prominence in the fast evolving Fintech sector will be a bit different this year. For 2018, HK Fintech… Read More

September 10, 2018 @ 10:47 am By Cali Haan  |  

Cryptocurrency trading continues in China despite a ban imposed in September 2017 and escalating countermeasures this summer, The South China Morning Post reports: “Despite multiple attempts by Beijing to shut down all local exchange platforms since September 2017, cryptocurrency trading (has) continued to prosper, with many Chinese… Read More

September 9, 2018 @ 9:30 pm By Steven McClurg and Katie Talati  |  

As the second largest world economy, China is important to examine when considering the crypto market. For most of us, the world revolves around markets, news, and innovation within the United States. However, many may be missing moves made by the Chinese government as it… Read More

September 8, 2018 @ 3:00 pm By Xu Gao  |  

The PBOC Sets Up a Financial Technology Company in Shenzhen On September 5th, the Digital Money Research Institute of People’s Bank of China established “Shenzhen Financial Technology Co., Ltd.” in Shenzhen. People familiar with the project said the company was involved in the development of… Read More

September 7, 2018 @ 8:42 pm By Cali Haan  |  

China’s Supreme People’s Court has stated that it will recognize evidence submitted for cases tried in the country’s new online court system if that evidence has been provably and securely logged on some type of secure distributed database (blockchain or DLT). The Chinese legal system… Read More

September 6, 2018 @ 1:50 pm By Cali Haan  |  

The Municipal Justice Bureau of Zhongshan has launched a blockchain-based, “community correction and supervision system,” to track the movements of, “community prisoners at any time and any place,” Zhongshan Daily reports. The new system of “smart (and) mutual supervision” will reportedly settle data about parolees whereabouts… Read More

September 2, 2018 @ 10:56 am By Xu Gao  |  

Xiaomi Intends to Set Up a Virtual Bank According to a report from HKEJ on August 20, the Fintech branch of Xiaomi Group – Insight Technology (Dongjian Keji)- is intending to apply for a Hong Kong virtual banking license, hoping to submit documents before the end… Read More

August 29, 2018 @ 7:45 pm By Cali Haan  |  

Following a ban on crypto promotional events in Beijing’s central business district last week, the Financial Development Bureau of Guangzhou (FDBG) has required that, “all relevant units in the district (of Guangzhou) may not undertake any form of virtual currency promotion and publicity activities,” National Business Daily… Read More

August 28, 2018 @ 10:54 am By Samantha Hurst  |  

SoftBank’s Vision Fund is reportedly looking to invest $100 million into Chinese insurtech startup, ZhongAn. The upcoming investment comes just weeks after ZhongAn announced the launch of its new its Software-as-a-Service (SaaS) platform, ZhongAn Technology Intelligent Open Platform for Insurers. ZhongAn, which was launched by Ant Financial,… Read More

August 28, 2018 @ 8:57 am By Samantha Hurst  |  

Global innovation platform Plug and Play announced on Monday it recently celebrated the third anniversary of its Plug and Play China program. The organization reported that the program has invested in over 200 startups and accelerated more than 500 startups across a total of eight… Read More

August 27, 2018 @ 4:53 pm By Cali Haan  |  

Chinese search giant Baidu will no longer allow discussions of crypto on its popular forum site, Baidu Tieba, China Times reports. The decision is the latest in a spate of recent crackdowns being waged against crypto-industries in China, actions seeking to give teeth to a… Read More

August 25, 2018 @ 10:49 am By Cali Haan  |  

Earlier today, and two days after WeChat suspended the social media accounts of 8 Chinese crypto news outlets, WeChat parent company Tencent has announced it will undertake “remediation measures” to monitor and “intercept” cryptocurrency sales and purchases on its WeChat Pay app. Similar news was… Read More