Tagged: xu gao

March 26, 2017 @ 11:10 am By Xu Gao  |  

China Development Forum 2017 Talked About Systematic Risk in Fintech Industry The annual session of China Development Forum 2017, organized by the China Development Research Foundation, was hosted by the Development Research Center of the State Council of China on March 18-20, 2017 at the… Read More

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

January 4, 2017 @ 9:02 am By Xu Gao  |  

Shanghai Launches New Regulatory Rules for Online Micro-Lending On 30th December 2016, Shanghai Municipal Financial Service Office published its first local regulatory rules for online micro-lending. According to this regulation, natural persons may borrow up to ¥200,000, while upper limit for lending to a legal… 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 10, 2016 @ 12:20 pm By Xu Gao  |  

PowerEgg Drone: Most crowdfunded campaign in the drone industry ever! Up to 30th September, 2016, PowerEgg Drone from PowerVision has raised more than ¥86.3 million (USD $12.87 million), becoming the most funded campaign on JD.com’s crowdfunding platform. The previous record belonged to Niu.com which raised… Read More