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Shanghai’s iPS Ordered to Suspend Online Payments Operations after Incurring Record High Fine
One of China’s longest-running payments companies has been ordered by regulators to suspend its online payments operations. More »
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China to Step up Liquidity Management for Smaller Lenders Following Two Bank Runs in Two Weeks
China’s banking regulator has flagged tighter liquidity management for smaller banks after a second regional lender succumbed to a bank run within a two week period. More »
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Beijing Tops 2019 List of World’s Leading Fintech Centres
Beijing has come first on a new list of the world’s leading fintech hub cities prepared by research groups in Zhejiang province. More »
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China Sees 1.48T Yuan in Online Payments on Singles Day, Equal to 1.65% of 2018 GDP: PBOC Data
The Chinese central bank has just released its first set of data on internet consumer payments made during the 11 November Singles’ Day shopping event. More »
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China Merchants Bank and JD.com’s Fintech Vehicle Prepare to Launch Direct Online Lender
A leading Chinese commercial bank and the fintech vehicle of JD.com are currently working together to launch a new online direct bank in China. More »
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ICBC Opens Representative Office in Greece
The world’s biggest bank in terms of assets is opening a representative office in Greece. More »
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Alipay Applies Blockchain to Tmall’s Operations on Record-breaking 11 November Singles’ Day
Alipay has touted the application of blockchain technology to a broad range of Tmall’s operations after Alibaba’s e-commerce platforms posted a record-breaking 268.4 billion yuan in sales on the 11 November Singles’ Day shopp... More »
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BoCom’s Chief Economist Calls for More Market Based Mergers in China’s Banking Sector
The top economist for one of China’s big state-owned banks has called for regulators to allow more market-driven mergers in the banking sector. More »
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Now’s not the Time for Global Stablecoin: Chinese Central Bank Official
A senior official from the People’s Bank of China (PBOC) says that the time isn’t yet ripe for the release of a global stablecoin like the Libra cryptocurrency mooted by tech giant Facebook. Speaking at the 10th Caixin Summit... More »
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Chongqing Bans All P2P Activity, 29 Platforms on Track to Shut Down
The mid-western mega-city of Chongqing has shut down all P2P lending activities within its jurisdiction. More »
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