Tagged: china

December 26, 2017 @ 9:55 am By Samantha Hurst  |  

Suning Financial Services Shanghai Co. announced on Tuesday it has issued new shares to raise ¥5.34 billion ($813 million) as it looks to invest further into its fintech products. The company reported around14 investors took part in the investment round and it issued 16.5% of… Read More

December 23, 2017 @ 11:42 am By JD Alois  |  

I must admit, when I first read about Dragon Coin and its initial coin offering (ICO) I was exceptionally skeptical. But then you really need to be careful which ICO you back right now. A healthy dose of skepticism can be what separates an investor… Read More

December 17, 2017 @ 3:50 pm By JD Alois  |  

We have been waiting for the complete English version of KPMG’s Leading Fintech 50 companies in China but it is apparently still in the works. KMPG has published a single sheeter though, so we share that now and hope to share the complete document in… Read More

December 16, 2017 @ 3:05 pm By Xu Gao  |  

Supply Chain Finance Platform Daokoudai.com Secures ¥100 million Investment led by BCCF On December 13th, online supply chain finance platform Daokoudai.com announced it had receive a ¥100 million A-round funding led by Beijing Cultural Center Fund (BCCF). SinarMas from Indonesia and Zhen Ru Investment Management… Read More

December 14, 2017 @ 10:37 am By Samantha Hurst  |  

China-based fintech Yirendai announced on Wednesday it has made a $50 million strategic investment in Lion Rock through the financial service platform’s Series A funding round. According to Yirendai, Lion Rock is headquartered in Hong Kong and is licensed by the Hong Kong Securities and… Read More

December 9, 2017 @ 10:05 am By Xu Gao  |  

Tsinghua PBCSF Releases China’s First Fintech Enterprise Database at the 4th World Internet Conference (Wuzhen Summit) The Fourth World Internet Conference (Wuzhen Summit), themed as “Developing Digital Economy for Openness and Shared Benefits — Building a Community of Common Future in Cyberspace“, was successfully concluded… Read More

December 7, 2017 @ 10:41 am By Samantha Hurst  |  

On Thursday, Chinese peer-to-peer lending platform Dianrong announced it has made a series of senior executive announcements. The online lender revealed Founder and former CEO, Soul Htite, has been named Executive Chairman, while Co-Founder and Co-CEO, Kevin Duo, was appointed Co-Chairman of the board. Former… Read More

December 4, 2017 @ 2:53 pm By Barry James  |  

It was recently reported that the former chief economist of the World Bank wants Bitcoin banned, saying “Bitcoin is successful only because of its potential for circumvention, lack of oversight” You missed something crucial. Because of the ‘McKinsey’ factor. The operative rules (laws of nature from… Read More

December 3, 2017 @ 6:26 pm By JD Alois  |  

Hexindai (NASDAQ:HX), a China based peer to peer lender, became the most recent Chinese online lender to trade on a US exchange early last month. The company will report fiscal year results this coming Tuesday before markets open. The  online lender listed their shares on the… Read More

December 2, 2017 @ 12:37 pm By Xu Gao  |  

People’s Bank of China Official Shares Opinions About Fintech Sandbox During the third development forum held by Shanghai Payment & Clearing Association, Li Wei, head of the People’s Bank of China (PBOC) science and technology division, highlighted the importance of setting up trial-and-error mechanisms for… Read More

November 30, 2017 @ 2:57 pm By Samantha Hurst  |  

Chinese blockchain startup Onchain announced on Thursday it has officially launched its Ontology platform in New York. The company held an event earlier this week, which attracted blockchain industry experts and investors. According to Onchain, the goal of the Ontology Network is to form an original… Read More

November 25, 2017 @ 11:23 am By Xu Gao  |  

Robo-advisors Now Required to Gain License to Operate in Mainland China On November 17th, top financial regulators in mainland China (including PBOC, CBRC, CSRC, CIRC and SAFE) released a new set of rules covering the country’s asset management market. It is the first time that… Read More

November 24, 2017 @ 8:20 am By Samantha Hurst  |  

Chinese marketplace lending platform Yirendai (NYSE: YRD) announced on Friday it has received its ISO 27001 Certification from the British Standards Institution. According to the online lender, the ISO 27001 certification is an internationally recognized best practice framework for an information security management system (“ISMS”) and… Read More

November 20, 2017 @ 10:53 pm By JD Alois  |  

NewStyle-Collinstar Capital, a leading company in the Blockchain infrastructure space and cryptocurrency investments, has announced a strategic development plan. Announced in Beijing, Collinstar says it will fuel the development of the Blockchain industry and ecosystem with a series of alliances and investments. Ryan Xu, Chairman… Read More

November 18, 2017 @ 11:24 am By Xu Gao  |  

A Unified Credit Rating System is On the Way People’s Bank of China, China’s central bank, has made plans to launch a united platform by the end of 2017 for collecting personal credit information and assessing people’s credit ratings. Setting up this platform means the… Read More

November 16, 2017 @ 12:24 pm By Samantha Hurst  |  

On Wednesday, Chinese peer-to-peer (P2P) lending platform Hexindai announced it has appointed Citi’s Issuer Services business as the depositary bank for its American Depositary Receipt (ADR) program. According to the online lender, the program was established through an initial public offering of its American Depositary Shares (ADSs), priced… Read More

November 11, 2017 @ 4:02 pm By Xu Gao  |  

China Financial Stability Committee established in Beijing On November 8th, the China Financial Stability Committee was officially launched. This is a subordinated department under the State Council, of which Vice Premier Ma Kai will serves as the head. To be specific, the committee will be… Read More

November 10, 2017 @ 10:05 am By JD Alois  |  

Chinese online lender PPDAI traded on the NYSE under ticker PPDF today after pricing shares at $13 each for their initial public offering. The IPO raised $221 million for the peer to peer lending platform with Credit Suisse and Citi acting as lead managers.  PPDAI… Read More

November 7, 2017 @ 10:33 pm By JD Alois  |  

One of the fastest growing Fintech’s in China has raised USD $220 million. WeLab, a Hong Kong-based mobile lending platform founded in 2013, has closed funding round of $220 million including both strategic debt and equity funding with the backing of Alibaba Hong Kong Entrepreneurs Fund,… Read More

November 6, 2017 @ 2:55 pm By JD Alois  |  

Fincera (OTCQB:YUANF) , a China based peer to peer online lender targeting small and medium-sized businesses and individuals in China, has announced that its Board of Directors has approved a 2 for 1 stock split of the Fincera’s outstanding shares of common stock in the… Read More