Tagged: pboc

September 5, 2017 @ 6:41 am By JD Alois  |  

As was announced yesterday, China government officials have pushed pause on the initial coin offering (ICO) market with a strong statement effectively banning any tokenized offerings in the near term. The actual document, released by the People’s Bank of China, may be found here in… Read More

August 8, 2017 @ 11:07 pm By JD Alois  |  

The People’s Bank of China (PBOC) is expected to strengthen the regulation of internet finance firms including peer to peer lenders and payment platforms. The report by China News references a statement by the PBOC that labels some financial products offered by Fintech firms as… Read More

July 16, 2017 @ 3:00 pm By Xu Gao  |  

CBRC Partners with 19 Banks to Establish Fintech Cloud Stack. By 2020, 60% of systems in China’s banking industry will be deployed in the cloud, most with the approval of the China Banking Regulatory Commission. According to the report, China Banking Regulatory Commission (CBRC) has… Read More

June 17, 2017 @ 5:00 pm By Xu Gao  |  

China Issues a Five-Year plan on Fintech Facing the challenges from the online finance industry, the People’s Bank of China (PBOC) and four other departments including the China Securities Regulatory Commission (CSRC), China Banking Regulatory Commission (CBRC), China Insurance Regulatory Commission (CIRC) and Standardization Administration… Read More

April 23, 2017 @ 4:37 pm By JD Alois  |  

The UN sponsored Better than Cash Alliance is out with an interesting report on Fintech and payments in China. The Alliance partners with governments, companies, and international organizations that are the key drivers behind the transition to make digital payments widely available around the globe…. Read More

December 21, 2016 @ 4:56 am By Xu Gao  |  

PPmoney Secures a ¥375 Million B Round Funding & Announces Strategy of Group Operation. On December 12th, online wealth management platform PPmoney secured ¥375 million in B round funding. Investors included Ants Capital, Yang Jianxin (actual controller of KJT.com) and Yuetai holding group. Meanwhile, PPmoney… Read More

November 30, 2016 @ 2:47 pm By Xu Gao  |  

China’s Leading Auto Financing Companies Set-up Self-Regulating Organization in Shenzhen. On the 23rd November, auto financing self-regulatory regulatory group “Che Dai Quan” (literally meaning auto financing group) was set up in Shenzhen. A number of leading auto financing companies joined this organization, including; RRJC, touna,… Read More

October 10, 2016 @ 12:20 pm By Xu Gao  |  

PowerEgg Drone: Most crowdfunded campaign in the drone industry ever! Up to 30th September, 2016, PowerEgg Drone from PowerVision has raised more than ¥86.3 million (USD $12.87 million), becoming the most funded campaign on JD.com’s crowdfunding platform. The previous record belonged to Niu.com which raised… 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