Tagged: shanghai

March 8, 2021 @ 10:55 pm By Omar Faridi  |  

Chinese authorities have increased their scrutiny of the nation’s Fintech sector. China’s regulators have now cracked down on JD Technology’s (potentially) $3 billion initial public offering. JD Technology, the Fintech division of Chinese digital commerce giant JD.com Inc., is reportedly looking into withdrawing its application… Read More

March 6, 2021 @ 7:10 pm By Omar Faridi  |  

China’s regulatory authorities have reportedly been telling local banking institutions to “trim” their loan books during 2021 to guard against potential risks resulting from bubbles in domestic capital markets. This, according to an update from Reuters which cited sources familiar with the matter (on March… Read More

December 30, 2020 @ 10:25 pm By Omar Faridi  |  

VeChain, a major blockchain platform focused on developing supply chain management solutions among other use cases, has released its latest financial executive report in order to promote “fairness, transparency, and openness.” As mentioned in the report, published on December 29, 2020: “During this quarter, the… Read More

October 22, 2020 @ 9:40 am By Omar Faridi  |  

Ant Group, which was previously known as Ant Financial, the world’s most valuable Fintech firm and a subsidiary of the Alibaba Group Holding (NYSE:BABA), has reportedly received approval from China’s top securities regulator for the registration of its Shanghai offering. As reported by Reuters, the… Read More

September 12, 2020 @ 11:24 am By Omar Faridi  |  

Temasek Holdings, a major Singapore state investor, is reportedly looking into making a potential investment in the planned initial public offering (IPO) of Chinese Fintech giant Ant Group, which might be the world’s largest iPO. GIC Pte Ltd, which is Singapore’s sovereign wealth fund (one… Read More

September 8, 2020 @ 11:28 pm By Omar Faridi  |  

Chinese insurance giant Ping An recently pointed out that Fintech has the potential to enhance operational efficiency by reducing business costs and lowering certain risks in the financial services sector. Supporting SMEs is one way more established institutions can enable digital transformation across the financial… Read More

July 3, 2020 @ 1:54 pm By Omar Faridi  |  

JD Digits, the Fintech-focused division of Chinese online marketplace JD.com, is reportedly planning to conduct an initial public offering (IPO) at China’s STAR Market, which is based in Shanghai. This, according to a filing submitted by several securities companies. As first reported by TechNode, the… Read More

June 5, 2020 @ 1:54 am By Omar Faridi  |  

The People’s Bank of China (PBoC), the nation’s reserve bank with around $3.2 trillion in assets, recently announced the second batch of Fintech initiatives that will take part in a pilot program involving new regulations. The pilots will take place in China’s capital, Beijing, and… Read More

April 28, 2020 @ 9:31 pm By Omar Faridi  |  

The Bank of China, one of the four largest state-managed commercial banking institutions in the country with over $3 trillion in assets, introduced its very first Fintech-focused regulatory pilot initiative in Beijing in 2019. The bank now says it will further expand its regulatory pilot… Read More

April 5, 2020 @ 6:46 pm By Omar Faridi  |  

Points Technology, an artificial intelligence (AI) and blockchain-focused firm, has reportedly acquired millions of dollars in funding through a Series A round. K2 Venture Partners, a Chinese venture capital firm, made the investment. Points Technology’s management said that the funds raised will be used to… Read More

January 15, 2020 @ 11:02 am By Samantha Hurst  |  

Ant Financial Services Group (Ant Financial), a China-based tech company and the operator of Alipay, is set to host its upcoming fintech conference in Shanghai. Ant Financial reported that the INCLUSION Fintech Conference is an event that aims to bring together the global financial and… Read More

December 29, 2019 @ 11:17 am By Omar Faridi  |  

CLPS Incorporation (Nasdaq: CLPS) noted on December 27 that Srustijeet Mishra, CLPS Singapore CEO, represented the firm as a guest speaker at the SYNC SEA 2019 Summit, which took place on December 6, 2019, in Singapore. During the event, Mishra reportedly discussed the firm’s current… Read More

December 12, 2019 @ 4:07 pm By Omar Faridi  |  

Greg Gibb, CEO at Lufax, an online wealth management platform and tech solution provider for local governments and financial institutions, recently shared his views and insights on the future of Fintech, during the Committee of 100 Greater China Conference and Gala 2019, which were held… Read More

November 24, 2019 @ 8:34 am By Omar Faridi  |  

Authorities in China continue to crack down on crypto-related businesses. Recently, the nation’s police officials closed down local digital asset exchange BISS and took 10 people into custody, as they were suspected of being involved in the trading platform’s business operations. On November 22, 2019,… Read More

November 4, 2019 @ 2:28 pm By Omar Faridi  |  

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

November 28, 2018 @ 7:51 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) and Shanghai Municipal Financial Regulatory Bureau (SFRB) continue to strengthen financial ties including in the hot Fintech sector. Jacqueline Loh, Deputy Managing Director of MAS, and Dr. Zheng Yang, Director General of the SFRB, highlighted the cooperation at the 4th… Read More

November 5, 2018 @ 2:11 pm By Samantha Hurst  |  

Fintech software provider Temenos (SIX: TEMN) announced on Monday it has teamed up with Shanghai Pudong Development Bank (SPD Bank) to establish an Innovation Lab in Shanghai. Temenos reported that through the partnership, it and SPD Bank will jointly identify market requirements and co-develop a digital ecosystem,… Read More

July 14, 2018 @ 4:29 pm By Xu Gao  |  

Toutiao Marches into the Fintech Market with Cash Loan Products China’s leading digital media platform Toutiao has long denied the potential of entering the financial markets. However, it is reported this week that a series of cash loan products have launched on Toutiao’s app without… Read More

February 2, 2018 @ 12:00 pm By Samantha Hurst  |  

On Friday, UK Prime Minister Theresa May announced the launch of R5-SHCH Connect, which is described as a new service that links banks in China with London’s foreign exchange (FX) market. The government official announced the launch while in Shanghai as part of her first… Read More

December 26, 2017 @ 9:55 am By Samantha Hurst  |  

Suning Financial Services Shanghai Co. announced on Tuesday it has issued new shares to raise ¥5.34 billion ($813 million) as it looks to invest further into its fintech products. The company reported around14 investors took part in the investment round and it issued 16.5% of… Read More