Tagged: peoples bank of china

China: WeiyangX Fintech Review

The People’s Bank of China Releases Financial Stability Report with Special Focus on Online Lending The People’s Bank of China (PBC) released the 2019 China Financial Stability Report lately, which gives a comprehensive review of the soundness of China’s financial system since 2018. While incremental… Read More

China Central Bank Claims to Have Closed Majority of Lending Platforms and 173 Cryptocurrency Entities

Following reports of multiple “rectification” incidents executed against cryptocurrency businesses in China last week, including alleged raids on a Binance office in Beijing, the People’s Bank of China (PBOC) announced November 25th that it has closed two-thirds of the country’s online lending institutions and 173… Read More

On the Heels of “Rectification” in Shanghai, Shenzhen Regulators Move to Quash Crypto Trading in Shenzhen

In mid-November, the People’s Bank of China (PBOC) and the Shanghai Municipal Financial Regulatory Bureau ordered securities regulators in Shanghai to identify and inspect cryptocurrency exchanges, token issuers, and distributors of foreign ICO’s in the city so they could be shut down. Now, the Shenzhen… Read More

China: WeiyangX Fintech Review

The People’s Bank of China Releases China’s Green Finance Development Report (2018) In order to introduce China’s achievements and experience in green finance, the People’s Bank of China (PBC) has worked with relevant authorities and organizations to compile the annual China’s Green Finance Development Report… Read More

Shanghai Branch of the People’s Bank of China Introduces 40 New Measures for Fintech Development

The Shanghai branch of the People’s Bank of China (PBoC), the nation’s central bank, has released 40 new measures that have been created mainly to support Fintech development in the city, which is one of the four municipalities in the country. PBoC’s latest measures will… Read More

Report: China’s CBDC to Use Centralized Ledger, Blockchain May Be Used for the Registration of Identification

It has been widely reported that the People’s Bank of China is nearly ready to issue the first Central Bank Digital Currency (CBDC) to streamline the payment/transfer process for the Renminbi. Many central banks are reviewing the pros and cons of a CBDC but China… Read More

Shares of China’s Fintech Firms Are Surging As Investors Prepare for Launch of National Digital Currency

Shares of Chinese Fintech firms are surging as the nation’s investors prepare for the upcoming launch of a national digital currency. China’s new internet-based currency is expected to increase demand for related security and payment services. The CSI Fintech theme index, an index that tracks… Read More

Report: China’s Digital Currency Probably Won’t Involve Blockchain

Although payments are increasingly digital, China has little interest in creating a self-settling digital yuan system using blockchain, Abacus News reports. According to the outlet: “China is increasingly a cashless society. Even street-food sellers in small towns will prefer to use a mobile payment app… Read More

China: WeiyangX Fintech Review

China to Include P2P lending Industry into Credit System On September 2nd, the special working group for Fintech risk ratification and special working group for online lending administration jointly issued a notice, requiring all p2p lending institutions to be connected to the credit system established… Read More

China’s Fintech Development Plan: Six Key Tasks

While China has obviously morphed from a command economy to one that has wholeheartedly embraced the benefits of capitalism and a market economy there still remains substantial central planning. The current Belt and Road initiative is all about global development and increasing China’s influence around… Read More

China: WeiyangX Fintech Review

People’s Bank of China issues “Fintech Development Plan (2019-2021)” On August 22nd, the People’s Bank of China issued a three-year development plan for the country’s emerging Fintech industry. According to the plan, China will improve the top-down design of the Fintech industry, further boost the… Read More

China Banking Official: “People’s Bank Digital Currency Can Now Be Said to Be Ready”

After five years in development, the deputy director of the People’s Bank of China’s Payments and Settlement Division, Mu Changchun, says, “(The) People’s Bank digital currency can now be said to be ready.” Shanghai Securities News (SSN) writes that  Mu made the announcement at the third… Read More

China: WeiyangX Fintech Review

Peoples Bank of China Releases Measures for Further Opening up the Financial Sector In order to implement the decisions and arrangements of the CPC Central Committee and the State Council on further advancing opening-up, and according to the principle of taking actions “faster rather than… Read More

Report: China Bankers Concerned Facebook’s Libra Could Fuel Currency Competition and Compromise Financial Sovereignty

Influential bankers convening at an academic conference at Peking University’s Institute of Digital Finance this week have expressed serious concerns about Libra, Facebook’s forthcoming cryptocurrency payments network, South China Morning Post (SCMP) reports. Wang Xin, director of the People’s Bank of China (PBOC)’s research bureau warned… Read More

China: WeiyangX Fintech Review

Insurtech Platform Shuidi Completes RMB 1 billion C Round of Financing led by Boyu Capital On June 12th, China’s leading Insurtech platform Shuidi (meaning waterdrop in English) was reported to secure RMB 1 billion in C round of financing. The investment was led by Boyu… Read More

China: WeiyangX Fintech Review

PBOC Set Up Deposit Insurance Fund Management Company On May 24th, the People’s Bank of China (PBOC), China’s central bank, set up a deposit insurance fund management company after it took a rare move to take over Inner Mongolia-based Baoshang Bank in response to its… Read More

China: WeiyangX Fintech Review

Fintech Research Institute of People’s Bank of China Starts Recruiting Blockchain Talent The Fintech Research Institute, established by the People’s Bank of China (PBOC), has posted several job vacancies about blockchain on recruitment website Lagou.com. Shenzhen Fintech Research Institute is a unit jointly established by… Read More

China: WeiyangX Fintech Review

China Requires P2P Platform Executives Not to Leave Beijing during Administrative Review On April 25th, Internet Finance Association of Chaoyang District issued an announcement about the recently launched P2P platform administrative review. According to the document, from the date of the announcement to May 31st,… Read More

China: WeiyangX Fintech Review

PBC to launch the second-generation credit rating system The People’s Bank of China (PBC) is going to launch the second-generation credit rating system from May 2019. PBC will start using the new system for inquiry purpose, with the two systems running concurrently. After data uploaded… Read More

China: WeiyangX Fintech Review

Parent Company of Shuidi Crowdfunding Receives nearly ¥500 million B-round Funding led by Tencent Shuidi, the parent company of Shuidi Crowdfunding and Shuidi Mutual Insurance, announced this week that it had received a nearly ¥500 million B-round financing. This investment was led by Tencent, and… Read More

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