Tagged: china

May 27, 2017 @ 2:16 pm By Xu Gao  |  

Bank of China and China Construction Bank to Offer Student Loans to University Students Since China Banking Regulatory Commission released regulations on P2P online lending market last month, the student loan market has stagnated. On May 17, Bank of China and China Construction Bank announced… Read More

May 21, 2017 @ 1:55 pm By Xu Gao  |  

Financial Technology Becomes a New Spotlight of the Belt and Road Initiative Belt and Road Forum for International Cooperation, also known as the Belt and Road Initiative, was held in Beijing on May 14-15. President Xi Jinping highlighted the role that financial technology has played… Read More

May 16, 2017 @ 5:21 am By Erin Hobey  |  

The People’s Bank of China has set up a committee that will investigate the impact of fintech on monetary policy and financial markets as well as how big data and AI can be used for regulatory oversight, according to a release. China has emerged as a… Read More

May 16, 2017 @ 3:54 am By Jonathan Nieh  |  

Fintech company QuantGroup, which was founded by several notable Chinese movie stars, is considering a US IPO, according to an article published in Bloomberg last week. The firm is looking to raise an estimated $200 million according to unnamed sources. Major Star Power The Beijing-based… Read More

May 14, 2017 @ 11:18 pm By JD Alois  |  

Launched in 2015 with the personal approval from the Chinese President Xi Jinping, Silk Ventures is on a mission is to build the most advanced New ‘Silk Road’ for technology companies seeking to expand to China and for Chinese companies seeking to ‘go global’.  The… Read More

May 14, 2017 @ 11:30 am By Jonathan Nieh  |  

According to an article in Bloomberg, Hong Kong-based financial investment and services firm, Sun Hung Kai & Co., intends to expand its principal investments portfolio to over US $2 billion with an emphasis on investing in fintech. The firm currently has about US $1.4 billion… Read More

May 11, 2017 @ 2:24 pm By Samantha Hurst  |  

On Thursday, peer-to-peer lender China Rapid Finance (NYSE: XRF) that the underwriters of its previously announced initial public offering (IPO) have exercised in full the option to purchase an additional 1.5 million American depositary shares (“ADSs”) from China Rapid Finance to cover over-allotments. According to… Read More

May 11, 2017 @ 3:40 am By Jonathan Nieh  |  

According to a recent article on The Cointelegraph, the price of Ether could surge due to activity within China. Similar to Bitcoin, Ether is a cryptocurrency that was developed and offered for sale to the public by Ethereum, a blockchain development platform, back in 2014. The value… Read More

May 8, 2017 @ 12:10 pm By JD Alois  |  

Do you remember the Ezubao Ponzi scheme that ended in the single largest peer to peer lending fraud of all time? Investors, saw approximately 50 billion CNY or about USD $7.2 billion flushed down the tube. Reportedly 900,000 investors were impacted as an astounding 95%… Read More

May 7, 2017 @ 4:30 pm By Xu Gao  |  

WeChat Enters the U.S. Market WeChat Pay, one of the biggest mobile payment platforms in mainland China, has boosted its cross-border business by entering the U.S. market. With the backing of China’s largest social networking app WeChat, which now claims more than 889 million monthly… Read More

May 5, 2017 @ 1:40 pm By Samantha Hurst  |  

China’s Ping An Insurance Group announced on announced on Thursday it has appointed former Citi Global Head of Retail Banking, Jonathan Larsen, as the new Chief Innovation Officer and CEO of Ping An Global Voyager Fund, a new $1 billion fund dedicated to fintech and healthtech…. Read More

May 1, 2017 @ 8:16 pm By JD Alois  |  

FinTech Australia is pointing to payments company Airwallex securing $13 Million USD in a Series A funding round as indicative of the strength of Australian-Asian Fintech links. FinTech Australian CEO Danielle Szetho said the announcement illustrated the strong and growing links between the two regions…. Read More

May 1, 2017 @ 7:20 am By Samantha Hurst  |  

Peer-to-peer lender China Rapid Finance announced on Friday the pricing of its initial public offering (IPO) for 10 million American depositary shares (ADS). The company revealed each ADS was priced at $6.00,  with a total offering size of US$60 million. According to the Asian online lender, each… Read More

April 28, 2017 @ 5:54 pm By Xu Gao  |  

CBRC Releases Documentation to Regulate Small Cash Loans Market This week, China Banking Regulatory Commission released a documentation “Guidelines on risk prevention and control in banking industry” to regulate the small cash loans market by perfecting the in-out mechanisms, paying more attention to the supervision… Read More

April 27, 2017 @ 9:23 pm By Jonathan Nieh  |  

Life insurance startup Singapore Life Pte Ltd announced it has raised over US$50 million in its Series A round of funding. The bulk of the investment came from a subsidiary of China Credit FinTech Holdings Limited, a Hong Kong Stock Exchange-listed company. UK-based investment firm… Read More

April 27, 2017 @ 3:07 pm By Erin Hobey  |  

Online payment platform Payza announced that its members in China can now utilize their Payza e-wallets using WeChat, UnionPay, and ePayLinks. Chinese Payza members may also now perform online transactions in Chinese Yuan Renminbi (CYR). The company has offered basic services in China since 2012, however, this is… Read More

April 26, 2017 @ 5:02 pm By JD Alois  |  

This is a cautionary tale not just for backers of ostensible promising hardware presales campaigns but for hardware creators with little to no experience on manufacturing and shipping hardware from Asia. GOKey, a rewards based project posted on Indiegogo in 2014, raised over $1.2 million… Read More

April 26, 2017 @ 1:03 am By Jonathan Nieh  |  

According to several reports, fintech in Asia reached record numbers in 2016. Singapore, in particular, has seen huge growth the last few years and has long proclaimed itself as the premier fintech hub in Asia. Some of the reasons why Singapore has been able to establish itself… Read More

April 24, 2017 @ 7:17 pm By JD Alois  |  

BBD-FNB Ltd., a China based big data provider has created a “Global Crowdfunding Index” in partnership with Crowdsurfer and the Academy of Internet Finance (AIF) at Zhejiang University and headquartered in Hangzhou. BBD (Business Big Data) is a founding member of AIF. The Index is said… Read More

April 23, 2017 @ 4:37 pm By JD Alois  |  

The UN sponsored Better than Cash Alliance is out with an interesting report on Fintech and payments in China. The Alliance partners with governments, companies, and international organizations that are the key drivers behind the transition to make digital payments widely available around the globe…. Read More