Tagged: china

May 15, 2023 @ 3:41 pm By JD Alois  |  

At one point, China was the top Fintech jurisdiction in the world, dominating online lending and other Fintech verticals along with a robust digital asset sector. That was then, and this is now – Fintech has been siloed into specific, approved businesses, and cryptocurrencies are… Read More

April 24, 2023 @ 9:49 pm By Omar Faridi  |  

According to figures certified by the China Environmental United Certification Center (CEC), Ant Group has once again “achieved operational carbon neutrality (Scope 1 & 2) for the second consecutive year, following the company’s initial achievement in 2021.” This marks another concrete step for Ant Group… Read More

March 8, 2023 @ 10:02 am By Omar Faridi  |  

Global payments and financial platform Airwallex has secured a payment business license in China, following the successful acquisition of “a 100% stake in Guangzhou Shang Wu Tong Network Technology Co., Ltd., an information and online payment services company. Shang Wu Tong Network Technology has a… Read More

February 12, 2023 @ 12:47 pm By Omar Faridi  |  

Qudian Inc. (NYSE: QD), a consumer-oriented technology company in China, today announced that the company has “regained compliance with the New York Stock Exchange’s (NYSE) continued listing standard for share prices as confirmed by a notification letter from the NYSE on February 1, 2023.” On… Read More

February 1, 2023 @ 9:59 pm By JD Alois  |  

The House Financial Services Committee has announced its first round of hearings under the leadership of Chairman Patrick McHenry. First on the list is a full Committee hearing on the economic threat of China. Other hearings include the Subcommittee on Capital Markets scheduling a session on… Read More

January 31, 2023 @ 10:27 am By Omar Faridi  |  

As this year’s week-long Chinese New Year holiday comes to an end, Ant Group would like to share some observations on Chinese consumers’ spring festival spending and trends. These findings “provide a snapshot of recovering consumption in China’s domestic market and outbound tourism market.” Main… Read More

January 18, 2023 @ 4:42 pm By JD Alois  |  

“Fueled a high-tech axis of cryptocrime.” The US Department of Justice (DOJ) has announced the arrest of Anatoly Legkodymov, 40, a Russian national who resides in Shenzhen, China, as the founder and operator of Bitzlato, a crypto exchange the feds have alleged to have processed… Read More

January 17, 2023 @ 1:26 pm By Omar Faridi  |  

Deutsche Bank and its Blue Water Fintech Lab recently launched a Robotic Process Automation (RPA) commercialization program by “introducing a multibank Data Processing and Reconciliation Solution, its first commercial product.” Deutsche Bank is the first international bank in China “to offer this innovative solution to… Read More

January 9, 2023 @ 8:33 am By Omar Faridi  |  

Billionaire entrepreneur Jack Ma will reportedly end an acting-in-concert pact with three senior executives who had given Ma a 53.46% share of the voting power in Fintech firm Ant Group. Following the restructuring phase, the major shareholders of Ant Group will independently exercise their respective… Read More

January 9, 2023 @ 8:31 am By Omar Faridi  |  

Alipay+, a provider of global cross-border digital payment and marketing solutions, is striving to provide cash-free and mobile-friendly travel experiences for Asian tourists in the Chinese mainland “as it seeks to partner with more merchants and enable greater QR code connectivity.” Starting from January 8,… Read More

December 31, 2022 @ 11:20 am By Omar Faridi  |  

China’s securities regulator stated on Friday (December 29, 2022) that online brokerage platforms Futu Holding and UP Fintech Holding have allegedly carried out unlawful securities businesses/transactions, and will now be banned from opening new accounts from mainland China investors. The penalty comes after over a… Read More

December 30, 2022 @ 8:22 am By Omar Faridi  |  

There are four “over-riding” investment themes that investors will be watching and positioning for in 2023 in order to build their wealth, says the CEO and founder of an independent financial advisory, asset management and fintech organization. Nigel Green of deVere Group’s recently commented on… Read More

December 26, 2022 @ 2:17 pm By Omar Faridi  |  

Deal activity (mergers & acquisitions [M&A], private equity, and venture financing deals) in the Asia-Pacific (APAC) region “continues to bear the brunt of the ongoing global geopolitical issues and volatile market conditions on the back of rise in the number of COVID-19 cases in some… Read More

November 2, 2022 @ 11:04 am By JD Alois  |  

Hong Kong has publicly asserted its interest in digital assets or “virtual assets” in a statement issued by the Financial Services and the Treasury Bureau. The document states: “As an international financial centre, Hong Kong is open and inclusive towards the global community of innovators… Read More

October 16, 2022 @ 11:35 pm By JD Alois  |  

There has been much discussion as to the benefits of Central Bank Digital Currencies (CBDCs). Many developed countries are researching the pros and cons, and China has been testing with consumers a digital yuan for some time now. The flip side to a CBDC is… Read More

October 13, 2022 @ 2:23 pm By Omar Faridi  |  

Since Talenthouse completed the acquisition of Coolabi which covers several markets including UK, US and China, both businesses are working together “to deepen Talenthouse’s proposition within the Creator Economy space and diversify its offering amidst an unsteady market.” With market conditions looking to continue in… Read More

September 21, 2022 @ 7:59 am By Omar Faridi  |  

The population’s need for affordable non-bank loans due to a low credit rating or its absence, difficulties with the registration process, etc. could be “the main driver of the American P2P market,” according to an update from Robo.cash. The national specifics are also very clearly… Read More

September 18, 2022 @ 11:46 pm By Omar Faridi  |  

China and the US present the “greatest” opportunity for cross border eCommerce expansion in 2022 and beyond, according to a joint report from Airwallex and PPRO. China has “the largest cross border eCommerce market with a total value in 2021 of USD 301.5 billion.” The… Read More

September 5, 2022 @ 2:17 am By Omar Faridi  |  

After months of investments tumbling in a downward trend, July seemed “to mark a positive turning point for global markets,” according to an update from PensionBee. In fact, China was “the only leading stock market to fall in value.” This brief rebound had “created speculation… Read More

July 12, 2022 @ 10:04 pm By Omar Faridi  |  

Ant Group recently announced that its “privacy-preserving” Computation Framework becomes open source, aiming “to make the technologies more accessible to global developers and speed up the Framework’s application in various scenarios.” The Framework is designed “to address pain points in multi-party collaboration on information flows.”… Read More