Tagged: china

October 2, 2015 @ 3:10 pm By JD Alois  |  

Fincera, a company that started in the transportation and automotive leasing business, is getting out of this sector to focus on internet finance.  The company announced earlier this week that “the company’s legacy truck leasing business ceased initiating new leases in August 2015.”  It’s internet… Read More

September 30, 2015 @ 12:18 am By Midori Yoshimura  |  

China recently noted that it will promote greater use of equity crowdfunding for startups to encourage entrepreneurship, according to a Cabinet document posted on the central government’s website, writes the South China Morning Post. Repeatedly, the Chinese government has stated its interest in stimulating employment in the state-dominated… Read More

September 26, 2015 @ 1:20 pm By JD Alois  |  

Back in April of this year, Jimubox, a young peer to peer lending platform based in Beijing, closed a funding round of $84 million.  Jimubox, founded only in August of 2013, has quickly risen to become one of the leading direct lending platforms in the… Read More

September 20, 2015 @ 9:38 pm By JD Alois  |  

The financial sector in China is changing perhaps more radically, and more quickly, than in any other sovereign nation in the world.  The industry is being compelled to adjust to the realities of slowing economy and a banking sector that was not created to provide… Read More

September 15, 2015 @ 1:08 am By Midori Yoshimura  |  

  Recently, Soul Htite, co-founder and CEO of Dianrong.com, one of China’s fastest-growing peer-to-peer lenders, did a little debunking of P2P and conventional banking assumptions. In a recent exclusive interview with FinanceAsia, he noted, One of the common misconceptions of P2P lenders is that they go head-to-head with… Read More

September 10, 2015 @ 12:30 pm By Erin Hobey  |  

With the financial support of Shenzhen-listed Hakim Co., Ltd, a Hangzhou-based smart building and smart city services provider, during both its Series A and Series B funding rounds, the Hangzhou-based P2P lending platform Weidai has completed RMB150 million (US$24 million) Series B financing. According to Chinese Money… Read More

September 2, 2015 @ 11:55 pm By JD Alois  |  

Peer to peer lending keeps going higher in China.  The world’s largest direct lending market topped 97.5 billion yuan ($15.3 billion) in August according to a report in the Shanghai Daily. To put this in comparison, Lending Club in the US has funded just over… Read More

August 31, 2015 @ 1:09 am By Midori Yoshimura  |  

    Boost your credit score by social networking and playing online games? Don’t hit the “Back” button–this isn’t clickbait. Instead, it’s what China Rapid Finance, one of China’s largest peer-to-peer lending sites, believes–they’ve just rated 50 million Chinese consumers for creditworthiness using social networking and… Read More

August 27, 2015 @ 3:29 pm By JD Alois  |  

Real estate crowdfunding platform CoAssets is looking to set up shop in neighboring Malaysia.  Earlier this year Malaysian securities authorities announced the approval of 6 investment crowdfunding platforms but CoAssets, based in Singapore, was not on the list.  Denied at the time,  CoAssets is currently… Read More

August 27, 2015 @ 8:48 am By James Tuckett  |  

Hold the front page – the Chinese economy is slowing down. Who didn’t see that one coming? In an age of intertwined economies, extreme volatility in China is being exported globally. Calamity across the Chinese commodity markets this week is having largely foreseen global consequences…. Read More

August 24, 2015 @ 9:28 pm By JD Alois  |  

Dianrong, a Chinese peer to peer lending platform, has received a new funding round in the amount of $207 million led by Standard Chartered with  participation from China Fintech Fund and Bohai Leasing.  The Series C funding was declared the largest ever for the direct… Read More

August 24, 2015 @ 10:21 am By Samantha Hurst  |  

Chinese 3D printer manufacturer, Zhuhai CTC Electronic Co., Ltd. (CTC), has announced the cancelation of its Formaker all-in-one project on reward-based crowdfunding platform Kickstarter despite the initial success of the project, creating a big buzz across the industry. The Formaker, which debuted on Kickstarter at a… Read More

August 21, 2015 @ 2:00 am By JD Alois  |  

Developer of solar projects Kong Sun Holdings based in Hong Kong went to the banks to finance a project in Mongolia.  Banks said no thanks so Kong Sun went online and raised a $161 million loan from Solarbao.  This is according to a recent report… Read More

August 19, 2015 @ 10:35 pm By JD Alois  |  

According to a recent report, transaction volume from internet lending platforms, including peer to peer lending, has surged to a record 300.6 billion yuan (approximately $47 billion) in China.  This number tops a comparative total for all of 2014 that was tallied at 252.8 billion… Read More

August 17, 2015 @ 12:56 pm By Samantha Hurst  |  

Australian listed crowdfunding platform CoAssets Limited (“CoAssets” or the “Company”) (NSX code: CAX), confirmed on Monday that it has successfully crowdfunded the platform’s first Singapore-based real estate project.  Launched on July 1st, Mountbatten Lights, a boutique cluster bungalow development, managed to raise S$500,000 from more than… Read More

August 16, 2015 @ 11:31 am By JD Alois  |  

Global investment crowdfunding platform OurCrowd is apparently a bit of a magnet when it comes to Asian money seeking investment opportunities.  OurCrowd CEO and founder Jon Medved visited the studios of Bloomberg this past week and stated “we are seeing in our offices alone several… Read More

August 14, 2015 @ 10:55 am By JD Alois  |  

Chinese peer to peer lender Migang has formed a strategic partnership with Tianan Property Insurance to provide additional security to customers. According to a report in China News, Cao Xiaofeng, Chairman of Migang, said; “Risk control has been a challenge for P2P sector, and we… Read More

August 13, 2015 @ 2:45 am By Midori Yoshimura  |  

  “Finding the right balance between financial reform and risk prevention will be one of the most important issues of our time,” writes Ruizhe Zhang of Dagong Global Credit Rating Co Ltd, in a recent China Daily op-ed on ECNS. Following the release of Internet finance guidelines… Read More

August 10, 2015 @ 4:12 pm By JD Alois  |  

The China Supreme Court released a judicial interpretation regarding liability for loans gone bad originated on peer to peer lending platforms. The court has stated that while borrowers receive funds via the platforms these intermediaries are not required to guarantee the loans and should not be held… Read More

August 9, 2015 @ 11:11 pm By JD Alois  |  

Not so bad for a 5 year old. Renrendai, a leading peer to peer lender in China, may hit 15 billion yuan (about $2.4 billion) in loans by the end of the year. The direct lending platform had transactions worth $1.4 billion (9 billion yuan) in… Read More