Tagged: china

April 9, 2015 @ 4:19 pm By JD Alois  |  

According to Guan Jianzhong of Dagong Global, a company that monitors and rates peer to peer lending platforms, of the 1,587 p2p platforms it observes, 393 have been blacklisted and an additional 668 were given risk warnings – a staggering percentage of active peer lenders in… Read More

April 8, 2015 @ 11:51 am By Samantha Hurst  |  

Cogobuy Group, an e-commerce company dedicated to serving China’s electronics manufacturing industry, announced it has implemented a strategic cooperation with JD.com, Inc. to jointly build out an intelligent hardware ecosystem. Last month, JD.com announced its crowdfunding platform’s official launch while pulling together domestic enterprises to jointly build an Internet ecosystem…. Read More

April 3, 2015 @ 6:19 am By JD Alois  |  

Peer to peer lending platform Lufax has sold equity in the company valued at  3 billion yuan or approximately USD 483 million.  This is according to a report in China News that quoted Lufax Chairman Gregory Gibb on the transaction.  The private placement was said… Read More

April 2, 2015 @ 9:57 am By JD Alois  |  

Crowd2Fund, a UK based investment crowdfunding platform that offers a range of funding options, has announced a Series A funding round of £2 million giving the company a “notional market value” of £10 million.  According to the company interest from Chinese investors boosted the valuation… Read More

April 1, 2015 @ 10:12 am By Erin Hobey  |  

JD.com, Inc. (Nasdaq:JD), China’s leading online direct sales company, today announced its launch of a series of initiatives to help finance, develop and promote the creation of start-ups in China. The new JD Equity Crowdfunding platform, which builds upon JD.com’s success in the area of Internet finance, is expected to… Read More

March 30, 2015 @ 10:02 am By Erin Hobey  |  

The Chinese government announced the establishment of the Steering Group on Financial Technologies to advise the Government on how to develop Hong Kong into and promote Hong Kong as a Fintech hub. The initiative to set up the Steering Committee was announced in the Financial… Read More

March 27, 2015 @ 1:31 pm By Samantha Hurst  |  

On Thursday, China-based Jide Tech, hit crowdfunding giant Kickstarter to raise $100,000 for its new Android tablet, Remix. The Remix is considered an Android 4.4.2 based, 11.6” ultra-tablet that provides “the best” mobile productivity and communication experience for all of its users. The company stated:… Read More

March 27, 2015 @ 11:11 am By JD Alois  |  

Speaking on a panel discussion at the Boao Forum in southern China, the CEO of Shanghai Lujiazui International Financial Asset Exchange (commonly referred to as Lufax), Gregory Gibb, addressed the pressing issue of fraud. The peer to peer lending industry in China has experienced supercharged growth over the… Read More

March 26, 2015 @ 6:37 pm By JD Alois  |  

Data published by the China Banking Association indicates a “surge” in internet banking.  According to a report in ECNS, individuals using online banking services has hit 909 million – an increase of 150 million compared to the year prior. Financial transactions totaled an astounding 60.85… Read More

March 19, 2015 @ 8:44 am By JD Alois  |  

The China Banking Regulatory Commission (CBRC) is preparing to tighten the regulatory environment for the fast growing peer to peer lending industry. According to multiple reports, rules have been drafted and are being distributed for review by various industry experts and platform operators. An internal… Read More

March 16, 2015 @ 10:25 am By JD Alois  |  

Alibaba, the Chinese internet conglomerate, has formed another strategic alliance to provide loans to businesses. Earlier this month Alibaba inked an agreement with Lending Club to facilitate loans to US businesses seeking to purchase goods from China manufacturers. Now Alibaba has created a similar arrangement with… Read More

March 5, 2015 @ 11:21 pm By JD Alois  |  

Online finance has been booming in China.  Today the country claims to be the largest market in the world for peer to peer lending with an estimate value of $18 billion for 2014. The Chinese People’s Political Consultative Conference (CPPCC) opened their meeting in the… Read More

March 5, 2015 @ 3:32 am By Midori Yoshimura  |  

If the Chinese characters on your bottle of very fine wine recall bygone basketball games, here’s to Yao Ming. Luxury wine brand Yao Family Wines, founded by Yao Ming, retired basketball star with the Houston Rockets and a global humanitarian, is now crowdfunding on Crowdfunder, with a $3 million goal…. Read More

February 27, 2015 @ 9:25 am By JD Alois  |  

  Media conglomerate TOM Group is moving into the online finance space.  The entity, controlled by Hong Kong tycoon Li Ka-shing, is set to expand its ecommerce operation, Ule, into peer to peer lending and online banking in an “aggressive” push via a partnership with… Read More

February 25, 2015 @ 11:15 am By Samantha Hurst  |  

The FlyShark Smartwatch is making its debut in a brand new market. In order to produce and bring the smart watch to the market, the creators of the watch have launched Kickstarter campaign. Originally seeking only $10,000, the project captured the initial goal and raised over… Read More

February 25, 2015 @ 3:41 am By Midori Yoshimura  |  

One of China’s largest lenders, and potentially one of the world’s largest, based on the number of branches, is in talks with potential investors about selling a minority stake before a possible listing, according to a recent article in the South China Morning Post. The Postal… Read More

February 23, 2015 @ 10:50 am By JD Alois  |  

Peer to peer lending is booming in China.  There are an estimated 1575 lending platforms, according to Wangdaizhijia.  But most of these P2P companies are targeting the urban and sub-urban markets.  The exception to this is  CreditEase and Eloancn, according to a recent report. Ning… Read More

February 20, 2015 @ 8:10 am By Erin Hobey  |  

 Azimo, the online money transfer service, has announced the launch of its world-class money transfer service to China, enabling customers to send money to friends and family at low-cost. The company introduced its wiring service to Thailand earlier this month.  The new service will provide Azimo’s potential 350… Read More

February 16, 2015 @ 5:31 pm By JD Alois  |  

Earlier this month Hongling Chuangtou Ecommerce, which operates my089.com P2P lending site, disclosed that an $11 million (70 million yuan) debt had gone bad.  Now the platform explains it will publicly trade shares by using a “backdoor” listing with a listed clothing company in Fujian… Read More

February 14, 2015 @ 5:35 pm By JD Alois  |  

Jimubox, a peer to peer lending platform, has formed an arrangement with China Minsheng Bank to help protect investors funds.  The bank will now be used to conduct all financial transactions and will hold investors funds.  RenRenDai and Minshengyidai, two other peer to peer lending… Read More