March 25, 2018 @ 1:05 pm By JD Alois  |  

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

March 24, 2018 @ 2:40 pm By Xu Gao  |  

China is Setting Up a National Online Contract Filing Platform On March 21st, the National Committee of experts on Internet Financial Security Technology (hereinafter referred to as the “Special Committee”) announced that it has jointly set up the national online contract filing platform with SIC… Read More

March 11, 2018 @ 9:43 pm By JD Alois  |  

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

February 3, 2018 @ 2:36 am By Xu Gao  |  

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

December 9, 2017 @ 10:05 am By Xu Gao  |  

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

November 25, 2017 @ 11:23 am By Xu Gao  |  

Robo-advisors Now Required to Gain License to Operate in Mainland China On November 17th, top financial regulators in mainland China (including PBOC, CBRC, CSRC, CIRC and SAFE) released a new set of rules covering the country’s asset management market. It is the first time that… Read More

November 18, 2017 @ 11:24 am By Xu Gao  |  

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

October 28, 2017 @ 10:45 am By Xu Gao  |  

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

September 17, 2017 @ 9:37 am By Xu Gao  |  

China’s first and biggest bitcoin exchange BTCC is shutting down Early this month, PBOC, China’s central bank, placed a blanket ban on ICOs, which fueled speculation that China was on the way of a broader control and curb towards cryptocurrency market. There hasn’t been any… Read More

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 12, 2017 @ 12:31 pm By Xu Gao  |  

China Sets up Centralized Clearing Platform for Online Payments The People’s Bank of China, the country’s central bank, has required all banks and third-party payment institutions to connect to a unified platform by June 30 of 2018 to ensure effective regulation and transaction security. The… 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

July 12, 2017 @ 7:24 am By Jonathan Nieh  |  

Over a month ago, speculation abounded on whether China was developing its very own cryptocurrency to essentially digitize RMB. Now we know quite certainly that the Central Bank of China has developed and is currently testing a cryptocoin. Planned Integration with Commercial Banks Although there… Read More

June 7, 2017 @ 7:06 am By Jonathan Nieh  |  

Yao Qian, the Deputy Director of the Science and Technology Department at the People’s Bank of China, China’s central bank, recently authored an extensive report on digital currencies. In the report, Yao Qian highlights many of the advantages and disadvantages of digital currencies, focusing much… Read More

June 6, 2017 @ 3:58 am By Jonathan Nieh  |  

Last week, it was reported that the 3 largest bitcoin exchanges in China finally ended a four-month freeze on withdrawals. BTC China, OKCoin, and Huobi all began prohibiting withdrawals from their exchanges almost four months ago amidst growing scrutiny from the Chinese government. In February,… Read More

May 21, 2017 @ 1:55 pm By Xu Gao  |  

Financial Technology Becomes a New Spotlight of the Belt and Road Initiative Belt and Road Forum for International Cooperation, also known as the Belt and Road Initiative, was held in Beijing on May 14-15. President Xi Jinping highlighted the role that financial technology has played… Read More

March 26, 2017 @ 11:10 am By Xu Gao  |  

China Development Forum 2017 Talked About Systematic Risk in Fintech Industry The annual session of China Development Forum 2017, organized by the China Development Research Foundation, was hosted by the Development Research Center of the State Council of China on March 18-20, 2017 at the… Read More

March 18, 2017 @ 1:01 pm By Xu Gao  |  

Highlights of China’s central bank’s briefing on financial reform & development Last Friday, the People’s Bank of China briefed media on China’s financial reform and developments on the sidelines of the Two Sessions in Beijing.‍ Officials attending the press conference included: Zhou Xiaochuan: Governor of… Read More

March 9, 2017 @ 11:17 am By Xu Gao  |  

NPC & CPPCC 2017 Annual Sessions Focus on Risk Prevention and Industry Regulation of Fintech Industry Last week, the National People’s Congress (NPC)and Chinese People’s Political Consultative Conference (CPPCC), the country’s top legislative and political advisory body, opened the 2017 sessions in Beijing. Fintech, or… Read More