Tagged: pboc

China: WeiyangX Fintech Review

Beijing to Start to Test “Personal Credit Score” System On January 30th, the “Opinions on Strengthening the Management of Fine Urban Management” was officially announced. According to the document, Beijing will start to test a “Personal Credit Score” system to raise the awareness for integrity… Read More

China: WeiyangX Fintech Review

Hong Kong Insurance Regulatory Authority Issues First Virtual Insurance License Under Fast Track On December 20th, Hong Kong Insurtech Bowtie announced that it has obtained the first virtual insurance company license issued by the Hong Kong Insurance Authority under Fast Track. Bowtie was founded by… Read More

China: WeiyangX Fintech Review

Sesame Credit Accepted for Canadian Visa Application This week, the Canadian Immigration Department (IRCC) announced that Chinese tourists can choose to submit his/her Sesame Credit Visa report (≥750 points) as financial proof for Canadian visa application. Sesame Credit is credit-assessment service offered by Ant Financial,… Read More

China Flags Crypto “Airdrops”

As part of ongoing government efforts to quash initial coin offerings (ICOs) in China, the People’s Bank of China (PBoC) has extended prohibitions to cover “airdrops” -the promotional distribution of free cryptographic tokens- which may possibly be being used now in China to circumvent the… Read More

China: WeiyangX Fintech Review

Steve Long on Unsplash Shanghai China

Shanghai Information Security Evaluation and Certification Center is Working on the Establishment of Blockchain Technical Security Standards According to a report called “Safety issues under the rapid development of the “blockchain +” industry”, blockchain security problems in 2018 have caused $2 billion in asset losses… Read More

People’s Bank Admits It Was Behind Spate of Recent Anti-Crypto Measures in China

The People’s Bank of China admitted today that it is responsible for coordinating and initiating a spate of recent measures designed to quash cryptocurrency and ICO (initial coin offering) activity China. The bank says its National Internet Financial Risk Special Remediation Leading Group has been orchestrating… Read More

China: WeiyangX Fintech Review

Beijing China by John SalvinoUnsplash

The PBOC Sets Up a Financial Technology Company in Shenzhen On September 5th, the Digital Money Research Institute of People’s Bank of China established “Shenzhen Financial Technology Co., Ltd.” in Shenzhen. People familiar with the project said the company was involved in the development of… Read More

China: WeiyangX Fintech Review

Baihang Credit Rating Announces the First 15 Crew Members On June 28th, Baihang Credit Co., Ltd. announced its first crew members in Shenzhen. These 15 institutions are mainly Fintech and consumer finance companies, including Yirendai and PPDAI. According to the cooperation agreement, these 15 institutions… Read More

China: WeiyangX Fintech Review

PBOC Bans Unauthorized APP to Access Credit Rating System Recently, the People’s Bank of China (PBOC), China’s central bank, issued a document named, “Notice on Further Strengthening the Management of Credit Information Security” (Yinfa [2018] No. 102) (hereinafter referred to as “Document No. 102”), to… Read More

China: WeiyangX Fintech Review

Cross-Border Payment Company iPayLinks Wins Hundreds of Million-Yuan B1 Round of Financing led by Tencent On March 28th, cross-border payment company iPayLinks announced that it had completed, at the beginning of this year, a hundreds of million-yuan B1 round of financing led by Tencent and… Read More

Report: China to Have Dynamic Approach to Fintech Innovation

A recent report in ECNS indicates China wants to have a “dynamic approach” regarding Fintech or internet finance. The report was referencing a press conference following the 13th National People’s Congress that was held earlier this month that involved the Zhou Xiaochuan, Governor of the People’s… Read More

Governor of Peoples Bank of China Discusses ICOs and Bitcoin During Press Briefing on Financial Reform

Zhou Xiaochuan, the Governor of the People’s Bank of China (PBOC), participated in a press conference on Friday addressing a diverse group of topics regarding financial reform. Mixed within the presser, the leader of the Chinese central bank addressed initial coin offerings (ICOs) and Bitcoin… Read More

China: WeiyangX Fintech Review

China Issues its First Personal Credit Rating License On February 22, the People’s Bank of China published an announcement about setting up personal credit rating agencies. According to the document, Baihang Credit Rating Co., Ltd., was granted the first personal credit rating license in China,… Read More

China: WeiyangX Fintech Review

WeChat Bans 1,000+ “Cash Loans” Mini Programs On February 6, WeChat released an official announcement about its ongoing move to clear up illegal mini programs (or mini apps) on its platform. According to the announcement, WeChat has permanently banned over 1000 “cash loans” mini programs… Read More

China: WeiyangX Fintech Review

Tencent Credit Launches Public Beta Testing in China On January 30th, Tencent officially launched a public beta testing for its credit service-Tencent Credit. Users may get access to the service by searching “Tencent Credit” within WeChat, complete real-name authentication, bind his/her mobile phone number to… Read More

China: WeiyangX Fintech Review

Tencent Wins Third-Party Fund Sales License On January 2, 2018, the Shenzhen Securities Regulatory Bureau issued this year’s first fund sales license to internet giant Tencent Holdings, or more specifically Teng An Information Technology (Shenzhen) Co., Ltd. According to the document, the company was allowed… Read More

China: WeiyangX Fintech Review

CBRC Rumored to Suspend Private Banks’ Online Lending Activities 2017 marks the third anniversary of China’s private banks. Over the past three years, 17 private banks have been granted operation licenses. However, as the volume of these new institutions grew, the overall financial regulatory environment… Read More

China: WeiyangX Fintech Review

Tsinghua PBCSF Releases China’s First Fintech Enterprise Database at the 4th World Internet Conference (Wuzhen Summit) The Fourth World Internet Conference (Wuzhen Summit), themed as “Developing Digital Economy for Openness and Shared Benefits — Building a Community of Common Future in Cyberspace“, was successfully concluded… Read More

China: WeiyangX Fintech Review

A Unified Credit Rating System is On the Way People’s Bank of China, China’s central bank, has made plans to launch a united platform by the end of 2017 for collecting personal credit information and assessing people’s credit ratings. Setting up this platform means the… Read More

China: WeiyangX Fintech Review

51 CreditCard (u51.com) is Planning to List in Hong Kong in 2018 51 CreditCard (u51.com), a leading online platform for credit card bill management, is reported to be listed on Hong Kong Exchanges and Clearing Limited (HKEX) in 2018, aiming to raise at least 500… Read More

Send this to a friend