Tagged: weiyangx

March 18, 2017 @ 1:01 pm By Xu Gao  |  

Highlights of China’s central bank’s briefing on financial reform & development Last Friday, the People’s Bank of China briefed media on China’s financial reform and developments on the sidelines of the Two Sessions in Beijing.‍ Officials attending the press conference included: Zhou Xiaochuan: Governor of… Read More

March 9, 2017 @ 11:17 am By Xu Gao  |  

NPC & CPPCC 2017 Annual Sessions Focus on Risk Prevention and Industry Regulation of Fintech Industry Last week, the National People’s Congress (NPC)and Chinese People’s Political Consultative Conference (CPPCC), the country’s top legislative and political advisory body, opened the 2017 sessions in Beijing. Fintech, or… Read More

March 2, 2017 @ 7:09 pm By Xu Gao  |  

CBRC Releases “Guideline” to Regulate Funds Custody of Online Lending Platforms On February 23rd, the China Banking Regulatory Commission（CBRC)released new guidelines to regulate funds custody of online lending platforms. According to the guidelines, online lending platforms and banks must follow the regulation to restructure their funds… Read More

February 22, 2017 @ 9:56 am By Xu Gao  |  

Hong Kong Securities & Futures Commission Joins R3 Blockchain Consortium The Hong Kong Securities and Futures Commission (SFC) announced it had joined the R3 blockchain consortium. Through this partnership, SFC will test applications of blockchain on record and settlement of securities and futures trading with the… Read More

February 15, 2017 @ 11:29 am By Xu Gao  |  

PBOC Becomes the First Central Bank to Issue Digital Currency Just at the start of 2017, People’s Bank of China (PBOC) took a big step in the area of digital currency. According to its announcement, PBOC has managed to test digital bill trading with beta-digital… Read More

January 18, 2017 @ 1:14 pm By JD Alois  |  

Ant Financial Joins UNEP Sustainable Finance Initiative Ant Financial has signed the “Declaration on Environment and Sustainable Development” and joined the United Nations Environment Programme Sustainable Finance Initiative as a full member of the organization. In fact, China Merchants Bank and Industrial and Commercial Bank… Read More

January 11, 2017 @ 8:49 am By Xu Gao  |  

JD & UnionPay Cooperate to Create a “Wall Street + Silicon Valley” Fintech Mode On January 4th, China UnionPay and JD jointly announced a new partnership that JD would become a new member of UnionPay’s acquirer team. Both sides will give full play to their… Read More

December 27, 2016 @ 7:21 am By Xu Gao  |  

Suning.com Receives Authorization from CBRC to Set Up a New Private Bank On the 21st December, Suning.com, one of China’s leading e-commerce platforms, announced it had received authorization from the CBRC (China Banking Regulatory Commission) to set up a new private bank, named Suning Bank…. Read More

December 21, 2016 @ 4:56 am By Xu Gao  |  

PPmoney Secures a ¥375 Million B Round Funding & Announces Strategy of Group Operation. On December 12th, online wealth management platform PPmoney secured ¥375 million in B round funding. Investors included Ants Capital, Yang Jianxin (actual controller of KJT.com) and Yuetai holding group. Meanwhile, PPmoney… Read More

December 15, 2016 @ 7:00 am By xu gao  |  

China Insurance Regulatory Commission Calls Halt to Online Insurance business of Foresea Life Insurance & Five Other Insurance Companies On the of 5th December, the China Insurance Regulatory Commission (CIRC) called a halt to the online insurance business of Foresea Life Insurance for irregularities and… Read More

December 9, 2016 @ 6:06 pm By Xu Gao  |  

China Minsheng Financial Holding Corporation Limited (CMFH) Plans to Acquire a Fintech Company. On the 30th November, China Minsheng Financial Holding Corporation Limited (CMFH) announced its intent to acquire a Fintech company. CMFH believes that such an acquisition will improve its capacity in Fintech development,… Read More

November 30, 2016 @ 2:47 pm By Xu Gao  |  

China’s Leading Auto Financing Companies Set-up Self-Regulating Organization in Shenzhen. On the 23rd November, auto financing self-regulatory regulatory group “Che Dai Quan” (literally meaning auto financing group) was set up in Shenzhen. A number of leading auto financing companies joined this organization, including; RRJC, touna,… Read More

November 23, 2016 @ 7:58 am By Xu Gao  |  

JD Finance Has Been Carved Out of JD.COM On November 15th, JD.COM announced it would transfer/sell all the shares it held in JD Finance. In other words, JD.COM will no longer be the legitimate owner of JD Finance. This corporate reorganization was said to make… Read More

November 16, 2016 @ 11:31 am By Xu Gao  |  

AliPay Offers New Functions for Single Users. Earlier this month, some AliPay users discovered a new online dating function on home page of  the AliPay app (Above 9.9 Version). According to some reports, users received invitation for this beta function. The users will have to… Read More

November 9, 2016 @ 8:07 am By Xu Gao  |  

Bank of China and HSBC launched blockchain-based housing-mortgage service in Hong Kong It has been reported that Bank of China and HSBC will launch a blockchain-based housing mortgage service in Hong Kong. The new technology will certify and share the real-estate valuation information in seconds,… Read More

November 2, 2016 @ 11:28 am By Xu Gao  |  

In Response to Lending Cap Regulations, More & More Chinese P2P Platforms Start to Transfer to Financial Asset Exchanges In August, the China Banking Regulatory Commission (CBRC) issued rules for the online lending industry and set lending caps for both individual and business peer to… Read More

October 26, 2016 @ 9:37 am By Xu Gao  |  

China Blockchain Development Forum Established in Beijing On October 18th, the China Blockchain Development Forum and first developer conference opened in Beijing. Apart from launching a white paper about blockchain technology and application, the forum is also aimed at standardizing the development process and creating… Read More

October 5, 2016 @ 12:30 pm By Xu Gao  |  

CIRC strengthens regulation towards internet finance It is reported that many local insurance companies have received notices from regulatory authorities, asking them to do a self-examination towards risk of collaboration with internet finance platform. Yet, some insurance companies in Shanghai believed this notice as a… Read More

September 27, 2016 @ 2:00 pm By Xu Gao  |  

  Baidu FSG launches mobile foreign exchange service Baidu FSG recently announced the launch of mobile foreign exchange service. Users of Baidu Wallet in Canada, Italy, Japan and Philippine could use this service to exchange small foreign change into targeted currency category. It is said… Read More

September 19, 2016 @ 12:03 pm By WeiyangX  |  

Fintech related cases would become an important area of civil and commercial trial in the future. On September 10, 2016, the sixth “Southern China Enterprise Law Innovation Forum” was held in Shenzhen. During the seminar of “China’s Law Innovation in Internet Age”, Yang Linping from… Read More