Tagged: tencent

China: WeiyangX Fintech Review

WeChat Shuts Down More Than 2,500 Accounts for Illegal Loan Activities On March 15th, China’s Central Television (CCTV) shined its spotlight on the illegal loans market during its annual Consumer Right’s Show. On March 18th, WeChat released an official statement about combating illegal credit services… Read More

Tencent Signs MoU With Hong Kong Science and Technology Parks Corporation to Accelerate R&D development & deployment of Fintech

Hong Kong Science and Technology Parks Corporation (HKSTP) announced on Tuesday it signed a Memorandum of Understanding (MoU) with Tencent to accelerate the R&D development and deployment of Fintech in Hong Kong by using Tencent’s revolutionary and advanced technology capabilities with HKSTP’s infrastructure and vibrant innovation… Read More

China: WeiyangX Fintech Review

Visa Will Establish Asia’s Second Innovation Center in Beijing It is always not easy for payment Giant Visa to enter the Chinese market. Yet, it still does not give up. According to Yu Xueli, president of Visa (Greater China), Visa is planning to set up… Read More

New Monero CryptoMining Malware Targeting Alibaba and Tencent Clouds

Cybersecurity firm Palo Alto Networks’ Unit 42 “global threat intelligence team” has identified a new exploit illegally mining Monero cryptocurrency on Chinese public cloud networks: “Palo Alto networks recently captured and investigated new samples of the Linux coin mining malware used by the Rocke group…. Read More

China: WeiyangX Fintech Review

Tsinghua PBCSF Releases “2018 Global Insurtech Report by Subsector” Early this month, the China Insurance and Pension Research Center of the National Finance Research Institute of Tsinghua University released the “2018 Global Insurtech Report by Subsector“. The report provides case studies of Insurtech companies in… Read More

China: WeiyangX Fintech Review

HKEX Will Introduce Blockchain and AI to Increase Automation HKEX will announce its three-year strategic plan for 2019-2021 early next year. Charles Li, chief executive of HKEX, said that there were still many business procedures in HKEX relying on manpower. In the future, HKEX will… 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: WeiyangX Fintech Review

IFR of Tsinghua University Launches Global Fintech Venture Competition (2018) at the 5th World Internet Conference On November 8, the 2018 Global Fintech Venture Competition (hereinafter referred to as the “Competition”) was officially launched at the Fintech and Credit Society Construction Forum of the 5th… Read More

China: WeiyangX Fintech Review

Alibaba Submits Blockchain Patent Applications that Allow “administrative intervention” On October 6th, Chinese e-commerce giant Alibaba applied for a blockchain system patent, allowing third-party administrators to perform “special treatment” (e.g. suspend a smart contract or freeze an account associated with an illegal activity). For example,… Read More

China: WeiyangX Fintech Review

By 偉宗 勞 on Unsplash China Metro Transportation

Beijing Launches Internet Court, Accepting and Hearing Cases of Online Lending On September 9, Beijing unveiled its Internet court. The court, located in Fengtai District, mainly accepts cases regarding the Internet and intellectual property rights, including disputes caused by online loans, online shopping contracts, and… Read More

Popular Chinese Apps WeChat Pay and Alipay Escalating Crypto Countermeasures

Earlier today, and two days after WeChat suspended the social media accounts of 8 Chinese crypto news outlets, WeChat parent company Tencent has announced it will undertake “remediation measures” to monitor and “intercept” cryptocurrency sales and purchases on its WeChat Pay app. Similar news was… Read More

China Cracks Down on “Barbaric Growth” of Crypto Communications

A total ban on ICOs, cryptocurrencies and related exchanges enacted in China last September has hit the ground twice in the past two weeks, The South China Morning Post reports. Chinese government censors shut down at least 8 crypto-focused media accounts on Chinese social media site… Read More

China: WeiyangX Fintech Review

China Issues its First Blockchain-based Electronic Invoice in Shenzhen This week, a restaurant in Shenzhen issued a blockchain-based electronic invoice, making it the first case in China. This invoice innovation is led by Shenzhen Municipal Taxation Bureau, technically supported by Tencent, and approved by the… Read More

The Time Has Come to Regulate the Tech Titans: A Tiered Approach to Regulation in Favour of Competition, Innovation and Consumer Rights

With tech titans the most valuable companies on the planet, the notion of self-regulation is no longer appropriate or fit for purpose. Is now the time for governments to step in to protect consumers and ensure a more competitive environment? The role of the technology… 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

NIFA Releases China’s First National Fintech Identity Verification Platform Early this week, the National Internet Finance Association of China (NIFA) released China’s first Fintech identity verification platform. This was a response to the requirements of various Fintech industry practitioners and regulatory authorities. In the future,… Read More

Baidu Baike, China’s Wikipedia, Now Tracking Revisions on a Blockchain

Coindesk is reporting that Baidu Baike, China’s Wikipedia-style site, is now tracking revisions made to articles on a blockchain. According to Coindesk reporter Wolfie Zhao, Baidu has not yet publicly announced blockchain developments at Baidu Baike, although they did confirm with Zhao over WeChat that… Read More

China’s Shenzhen District and Tencent Partnering to Develop an “Intelligent Tax” System on Blockchain

Chinese tech behemoth TenCent is cooperating with tax authorities in the Shenzhen province to develop a blockchain-based and Big Dat-fed “intelligent tax” system.   Tencent last year joined Facebook, Google and Amazon as one of handful of companies on the globe to pass the $500 billion… Read More

China: WeiyangX Fintech Review

Financial Inclusion Platform FINUP Plans Public Listing in Hong Kong On April 23, China’s leading financial inclusion platform FINUP filed a listing application for the Hong Kong Exchanges and Clearing Limited (HKEX). According to statistics, FINUP will be the fifth Fintech company from mainland China… 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

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