Tagged: webank

China: WeiyangX Fintech Review

People’s Bank of China and the State Administration for Market Regulation Jointly Incorporate Fintech Products into the National Certification System To implement the policy of “pushing for the establishment of a management system based on government supervision and led by standards where corporate responsibilities are… Read More

China: WeiyangX Fintech Review

Tencent-backed WeBank Fined ¥2 million for multiple violations WeBank, China’s first internet bank, was fined for ¥2 million for multiple violations against Law of the People’s Republic of China on Commercial Banks. In an inspection last year, the Shenzhen branch of the China Banking and… Read More

Alibaba Must Acquire Starbucks, WeWork, Airbnb, Uber, Tesla & PayPal

During July 2016, I was part of a delegation of US Fintech executives visiting our counterparts in Hong Kong, Shenzhen, and Shanghai, China. We toured and visited some of the most exciting Fintech platforms in China such as LuFax, CreditEase, Tencent (the creator of WeChat),… Read More

China: Weiyangx Fintech Review

Qudian.com announced to exit from campus installment market in which it used to be the leader, and turned their focus on consumer finance. Qudian.com (previously named Qufenqi.com) announced this week that they would exit from the campus installment loan market, and made consumer finance for… Read More

Are Chinese Platforms Abandoning the Peer-to-Peer Model?

Following in the footsteps of Chinese internet giants such as Alibaba, Tencent, and JD.com, leading Chinese P2P platforms have begun evolving into one-stop wealth management platforms. Alibaba’s Ant Financial, Tencent’s WeBank, and JD.com’s JD Finance (for some background on these platforms, please refer to a… Read More

In China, Baidu + Citic Bank To Launch New Online Bank

China’s Internet search giant Baidu will partner with China Citic Bank, part of state-owned conglomerate Citic Group, to launch an online bank, according to the Financial Times. The FT notes that Citic Bank, suspended its shares in Shanghai and Hong Kong on Monday pending announcement… Read More

China Central Bank Defends Online Payment Rules, Critics See Rules Stifling Industry Innovation

“China’s central bank has moved to defend draft rules that would force online payment processors to channel large payments through traditional bank accounts, a requirement that industry observers say will stifle innovation while protecting the interests of incumbent banks,” reported FT’s Gabriel Wildau. “The People’s Bank of China… Read More

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