Chinese Central Bank Strengthens Internet Credit System, Pushes Online Lenders to Sign up
The People’s Bank of China (PBOC) has adopted measures to strengthen regulation of online credit information in…
CBIRC Tells Rural Banks to Accelerate Disposal of Non-performing Loans
The Chinese banking regulator has ordered the country’s rural commercial banks to accelerate their handling of non-performing…
Yields on Bank Wealth Management Products Decline for Seventh Consecutive Month in September
The yields on wealth management products (WMP’s) sold by Chinese banks have seen their seventh consecutive month…
Tianfeng Securities Enters Cooperative Agreement with Artificial Intelligence Firm
Chinese brokerage Tianfeng Securities hopes to step up its fintech capabilities by striking a cooperative agreement with…
Ant Financial Launches Online Mutual Insurance Service with Trust Mutual Life
Ant Financial has teamed up with China’s Trust Mutual Life (信美人寿相互保险社) to launch online mutual insurance products…
Mobile Payments Usage Rate of Chinese Tourists Under 45 Travelling Abroad Hits 43%: McKinsey
A new report from McKinsey points to the increasing use of mobile payments by the fast-rising number…
Total Social Financing at 15.37 Trillion Yuan for Q1 – Q3 as Off-balance Sheet Credit Recedes
Data from the Chinese central bank points to a year-on-year decline in total social financing (TSF) –…
Shenzhen Issues Draft Version of China’s First Local Standards for Financial Blockchain Platforms
The Shenzhen municipal government has just issued China’s first local standards for financial blockchain platforms.
Bank of Communications Obtains Approval for First Issue of Convertible Bonds
One of China’s big four banks has obtained approved from China’s banking regulator for its first issue…
BOC Consumer Finance Fined for Breach of Credit Information Regulations
The Bank of China’s consumer finance vehicle has been hit with a second fine since the start…
