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Bank of China Grabs Approval to Serve as Renminbi Clearance Bank in Philippines
Bank of China (BOC) has obtained approval to serve as a renminbi clearance bank in the Philippines. More »
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China Needs to Lead Development of Global Digital Currency: Ex-Bank of China Head
The former head of one of China’s big four state-owned banks has called for China to play a leading role in the research and development of an international digital currency. More »
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Wuxi Commercial Bank Set to Become China’s 19th Private Lender
China is expected to soon welcome its 19th private lender following the issuance of key regulatory approvals. More »
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China Suffers from Shortage of Fintech Talent: Former Head of Sovereign Wealth Fund
The former head of China’s sovereign wealth fund has highlighted the fintech sector’s talent shortage at a recent industry event in Shanghai. More »
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China Life Tipped to Launch First Internet-based Life Insurance Company
China’s biggest life insurer is expected to launch a new online life insurance company according to domestic media reports. More »
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ICBC Becomes First Chinese Bank to Issue Pound-denominated Bonds in London
Industrial and Commercial Bank of China (ICBC) has become the first Chinese-invested bank to issue bonds denominated in the British pound via London. More »
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Tencent’s Tenpay Fined 1.49M Yuan for Settlement System Breaches
The online payments platform of tech giant Tencent has been hit with a near 1.5 million yuan fine for infractions in relation to China’s settlements system. More »
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China to Apply National Ratings Scheme to Online Microlenders
China’s banking regulator has flagged the launch of a new ratings system for online micro-loan platforms. More »
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ICBC, China Construction Bank Each Have Over 300 Million Mobile Banking App Users
Industrial and Commercial Bank of China (ICBC) and China Construction Bank (CCB) currently top Chinese lenders when it comes to registered users of mobile banking apps. More »
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Two More Payment Companies Suspend Operations Amidst Heightened Regulation
At least 33 Chinese payments companies have had their licenses revoked amidst tighter scrutiny from regulators. More »
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