Tagged: wechat

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

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

Hong Kong Insurance Regulatory Authority Issues First Virtual Insurance License Under Fast Track On December 20th, Hong Kong Insurtech Bowtie announced that it has obtained the first virtual insurance company license issued by the Hong Kong Insurance Authority under Fast Track. Bowtie was founded by… 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

People’s Bank Admits It Was Behind Spate of Recent Anti-Crypto Measures in China

The People’s Bank of China admitted today that it is responsible for coordinating and initiating a spate of recent measures designed to quash cryptocurrency and ICO (initial coin offering) activity China. The bank says its National Internet Financial Risk Special Remediation Leading Group has been orchestrating… 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

More Crypto Censure in China as Baidu Search Censors its Tieba Forum

Chinese search giant Baidu will no longer allow discussions of crypto on its popular forum site, Baidu Tieba, China Times reports. The decision is the latest in a spate of recent crackdowns being waged against crypto-industries in China, actions seeking to give teeth to a… 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’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

Multinational Retail Giant Auchan Establishes a Joint Venture of Consumer Finance with China’s Bright Food Group On April 28th, France’s Oney Bank and Bright Food Group from Shanghai, signed an investment agreement to establish Shanghai Bright-Oney Consumer Finance Co., Ltd., and submitted the materials to… Read More

China: WeiyangX Fintech Review

  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

China: WeiyangX Fintech Review

WeChat Bans 1,000+ “Cash Loans” Mini Programs On February 6, WeChat released an official announcement about its ongoing move to clear up illegal mini programs (or mini apps) on its platform. According to the announcement, WeChat has permanently banned over 1000 “cash loans” mini programs… Read More

China: WeiyangX Fintech Review

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

China: WeiyangX Fintech Review

P2P lending platform Dianrong Secures $70 million D-round funding On January 24th, online lending platform Dianrong.com announced 70 million US dollars D-round funding. This round of investment was led by ORIX’s wholly-owned-subsidiary ORIX Asia Capital Co., Ltd.. CITIC Securities CITIC Securities subsidiary CITIC Lyon also… Read More

China: WeiyangX Fintech Review

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

China: WeiyangX Fintech Review

CBRC Rumored to Suspend Private Banks’ Online Lending Activities 2017 marks the third anniversary of China’s private banks. Over the past three years, 17 private banks have been granted operation licenses. However, as the volume of these new institutions grew, the overall financial regulatory environment… Read More

China: WeiyangX Fintech Review

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

Manigo Wants to be the WeChat of Europe, Plans Crowdfunding Round

Manigo describes itself as the “world’s first digital money platform for consumers, businesses and merchants.” Manigo says it will provide a seamless 360° experience for all of their users. The company says its goal is to become the Euro version of WeChat, Tencent’s incredibly successful… Read More

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