June 9, 2018 @ 8:07 am By Xu Gao  |  

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

May 31, 2018 @ 7:54 am By Cali Haan  |  

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

May 30, 2018 @ 7:29 am By Cali Haan  |  

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

April 28, 2018 @ 10:45 am By Xu Gao  |  

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

March 31, 2018 @ 1:16 pm By Xu Gao  |  

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

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 22, 2018 @ 2:00 pm By Samantha Hurst  |  

Global internet and entertainment group Naspers announced on Thursday it is planning to sell up to 190 million Tencent Holdings Limited (Tencent) shares, equal to approximately 2% of Tencent’s total issued share capital, which would reduce its stake in Tencent from 33,2% to 31,2%. The… Read More

March 11, 2018 @ 1:42 pm By Xu Gao  |  

  Fintech Remarks and Proposals from 2018 Two Legislative Sessions March 3rd saw the opening of “2018 NPC & CPPCC: annual legislative and political advisory sessions” in China. Here are some fintech related remarks and proposals that we summarized from this year’s sessions. (Source: 01Caijing)… 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

January 6, 2018 @ 5:20 pm By Xu Gao  |  

Tencent Wins Third-Party Fund Sales License On January 2, 2018, the Shenzhen Securities Regulatory Bureau issued this year’s first fund sales license to internet giant Tencent Holdings, or more specifically Teng An Information Technology (Shenzhen) Co., Ltd. According to the document, the company was allowed… Read More

December 2, 2017 @ 12:37 pm By Xu Gao  |  

People’s Bank of China Official Shares Opinions About Fintech Sandbox During the third development forum held by Shanghai Payment & Clearing Association, Li Wei, head of the People’s Bank of China (PBOC) science and technology division, highlighted the importance of setting up trial-and-error mechanisms for… 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 11, 2017 @ 4:02 pm By Xu Gao  |  

China Financial Stability Committee established in Beijing On November 8th, the China Financial Stability Committee was officially launched. This is a subordinated department under the State Council, of which Vice Premier Ma Kai will serves as the head. To be specific, the committee will be… Read More

October 14, 2017 @ 8:20 pm By Xu Gao  |  

Tencent Received License to Sell Insurance on WeChat and QQ This week, China Insurance Regulatory Commission (CIRC) announced that it had grant an operation license to Shenzhen Wei Min Insurance Agency Co. Ltd. Tencent owns a majority stake (57.8%) of this new insurer. Fubon Property… Read More

September 30, 2017 @ 2:00 am By Xu Gao  |  

CreditEase Fintech Investment Fund is Making a New Investment. Guess Who the Fund is Interested in?  Last week (September 18th -24th), CreditEase Fintech Investment Fund, a venture committed to investing growth-stage Fintech startups in China and globally, announced a new round of investment to three… Read More

September 2, 2017 @ 4:00 pm By Xu Gao  |  

Regulators in China are Said to Plan a Blanket Ban on Initial Coin Offerings In response of the ICO craze, regulators in China including PBC, CSRC and NIFA have held several internal meetings to discuss the best approach to regulate this emerging token creation events…. Read More

August 29, 2017 @ 2:36 pm By JD Alois  |  

In a local announcement, Apple added WeChat Pay, part of Tencent, for payments in its App store and online music. WeChat is a social network similar to Twitter that has evolved into providing additional services. Apple already accepts Alipay, part of Alibaba, for payments on… Read More

August 19, 2017 @ 8:18 am By Xu Gao  |  

Alibaba’s Yuebao Reduces Credit Limit for Personal Balance to RMB 100,000 Alibaba’s Yuebao is now the nation’s largest money market fund with assets hitting RMB 1.43 trillion (US$210.18 billion) as of the end of July, up sharply from the end of last year. On August… 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 6, 2017 @ 1:00 pm By Xu Gao  |  

Baidu Partners With PayPal to Tap Cross-border Payments On July 28, Baidu annouced a strategic agreement with PayPal to tap oversea merchants as Chinese tech companies ramp up the fight for overseas payment partnerships. The partnership allows Baidu Wallet users to make online purchases outside… Read More