Tagged: china

January 21, 2016 @ 4:20 am By Erin Hobey  |  

Fresh from its October 2015 investment in US marketplace lender Kabbage, Dutch bank ING has taken a stake in WeLab, a non-bank provider of consumer loans in China and Hong Kong. ING participated in a Series B $160 million (RMB1 billion) fundraising in the three-year old… Read More

January 19, 2016 @ 10:22 pm By JD Alois  |  

As what will come as little surprise to many observers, a recent report out of China indicates that online fraud is on the rise, specifically within peer to peer lending. There have been repetitive, ongoing reports highlighting the risk of internet finance in China for… Read More

January 19, 2016 @ 6:16 am By Erin Hobey  |  

Commonwealth Bank of Australia today launched an Innovation Lab in Hong Kong and announced plans to launch an Innovation Lab in London later this year. This innovation network is a natural extension of the Bank’s successful Innovation Lab in Sydney and creates a global approach to… Read More

January 19, 2016 @ 1:27 am By Midori Yoshimura  |  

Backed by Ping An Insurance Group Co of China Ltd., Lufax, a Chinese peer-to-peer lender, has raised $1.2 billion from a group of investors, making it one of the world’s most valuable financial technology startups.  The capital raising values Lufax at $18.5 billion. The Shanghai-based Shanghai Lujiazui International Financial Asset Exchange Co… Read More

January 18, 2016 @ 6:00 am By Spencer Li  |  

The China Banking Regulatory Commission (“CBRC”) issued the highly anticipated draft rules for online lending on December 28, 2015. Ever since the State Council guidelines (“the Guidelines”) for the Chinese internet finance industry were issued in July, rumors about the timing of the online lending… Read More

January 12, 2016 @ 4:21 pm By JD Alois  |  

Industry representatives from the two largest economies in the world, China and the United States, will gather in San Francisco later this month to discuss the future of P2P / marketplace lending.  The conference is organized by Sync US International (Chi Mei International) a bilateral “resource”… Read More

January 12, 2016 @ 2:58 am By Midori Yoshimura  |  

In Shanghai and Shenzhen, administrations for industry and commerce have suspended the registration of Internet finance platforms, according to the Beijing Business Today in ECNS.cn. The publication also notes that in Beijing, the Administration for Industry and Commerce also released a similar statement. However, this has not… Read More

January 9, 2016 @ 3:13 am By Midori Yoshimura  |  

Yirendai, an online consumer finance marketplace in China, on Thursday announced the appointment of Chaomei Chen, former chief risk officer of Lending Club, as a member of the company’s Advisory Committee, effective Jan. 7, 2016, according to a recent press release. Chen will provide strategic advice and insight to… Read More

January 7, 2016 @ 9:18 pm By JD Alois  |  

Global investment crowdfunding platform OurCrowd is perched in one the hottest startup markets in the world: Israel. Between a 1000 and 1500 new startups are launched every year in a country with a relatively small population. Some of these companies have gone on to become… Read More

January 3, 2016 @ 9:50 pm By JD Alois  |  

The China peer to peer lending market is the largest in the world. One reason this is so significant is the fact this incredible amount of money is driven by true peers (small investors) as little institutional money has found its way into the online… Read More

January 3, 2016 @ 2:07 pm By Spencer Li  |  

A flurry of internet finance-related regulatory documents were issued in China last week just before the New Year. On December 28th, the People’s Bank of China (“PBOC”) issued the final rules on online payments while the China Banking Regulatory Commission (“CBRC”) issued the draft rules… Read More

December 31, 2015 @ 9:34 am By Samantha Hurst  |  

Weijinsuo, a Beijing-based peer-to-peer (P2P) lending platform, announced on Thursday that it has raised $46 million (RMB300 million) during its series A lending round, which was led by HNA Capital. According to the China Money Network, Weijinsuo was founded in 2013 and currently has 700,000… Read More

December 30, 2015 @ 12:26 pm By JD Alois  |  

The Chinese online lending industry continues to reflect upon the just announced rules proposed in the last week.  There is a huge shakeout coming in China as some platforms will probably cease to exist. CCTV has filed a report reviewing the rules, highlighting the major… Read More

December 30, 2015 @ 11:37 am By JD Alois  |  

This is a pretty powerful statement coming out of China in response to the recently announced peer to peer lending rules.  Xu Hongwei, CEO of Shanghai-based Yingcan Group, a research company that tracks the myriad of P2P lenders in China.  As quoted in China News, Xu Hongwei… Read More

December 29, 2015 @ 9:59 am By JD Alois  |  

In China, there is an estimated $21 trillion held in savings deposits.  This incredible sum was described in Bloomberg as one of the most significant financial opportunities that will take place as capital borders open in the most populous country in the world. HengXinLi, a… Read More

December 28, 2015 @ 8:56 am By JD Alois  |  

As has been widely expected for some time, China regulatory authorities revealed proposed rules to reign in the fast growing peer to peer lending industry.  While online lending has filled a serious void in providing access to capital the lack of rules have created an… Read More

December 27, 2015 @ 5:33 pm By JD Alois  |  

The video report from China News, states risk is at an alarming rate in China for investors in peer to peer lending. Chinese authorities recently put the hammer down on Ezubo (sometimes spelled Ezubao), shuttering the firm and whisking away its Chairman. The report states… Read More

December 26, 2015 @ 10:53 am By JD Alois  |  

Peer to peer lending iQuianjin states that in a survey of 5000 investors, P2P lending ranked number 3 in popularity. The research was completed with the assistance of AdMaster a marketing / data technology company.  According to the information, as reported by China News, for… Read More

December 23, 2015 @ 12:30 pm By JD Alois  |  

Exploding “Hoverboards” are everywhere in the news these days. Craptaculous products by manufacturers with questionable quality control have placed the entire sector under scrutiny.  Recently an apartment in Hong Kong was torched by a combusting Hoverboard leaving residents homeless. The Lithium battery “exploded several times”…. Read More

December 22, 2015 @ 1:51 pm By Elena Mikhaylova  |  

Crowdfunding continues to grow globally. The largest rewards platform, Kickstarter, has hosted close to 100,000 successfully funded projects and has assembled a community of almost 10 million backers. It has been aggressively expanding internationally this year. Some studies suggest that most of the growth in… Read More