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Monthly Archives: December, 2018

Surging Consumer Finance Growth Draws Unprecedented License Applications

An increasing number of companies in China are looking to obtain approval for consumer finance operations in anticipation of further roaring growth in the...

Returns on Bank Wealth Management Products Hit 21 Month-Low

The returns on bank wealth management products (WMP's) in China hit a 21-month low in the first week of December. Data from Rong360 indicates that...

Consumer Complaints over Cashless Payments Prompt Central Bank Intervention

Widespread complaint over the increasing number of Chinese businesses that refuse to accept payments in cash has prompted intervention on the part of the...

Chinese Insurers Withdraw Support for P2P Lending Platforms

Insurance companies in China are backing out of their involvement with the country's problem-plagued P2P lending sector. P2P platforms in China have frequently sought to...

17 Provincial Governments Around China Launch Blockchain-related Policies

An increasing number of regional governments around China are launching policies that encompass support for the development of their local blockchain industries. According to a...

Fintech Demands Stricter Regulation, Nationwide Analysis and Monitoring Platforms: Chinese Central Bank

A senior official from the Chinese central bank has shed light on future plans for regulation of the burgeoning fintech sector. Speaking at the 2018...

Shanghai Approves China’s First Shelf Registered Public Housing Asset-backed Security

China's financial authorities have given their approval to the country's first shelf registered public housing securitised products in Shanghai. The "Guokai  - Shanghai Real Estate...

Six Banks Fined over USD$22M for Wealth Management Product, Lending Violations

The China Banking and Insurance Regulatory Commission (CBIRC) has hit six banks with fines worth over 150 million yuan (approx. USD$22 million) in total...

Non-Original Shares on China’s New Third Board Temporarily Exempt from Personal Income Tax

China's financial regulators have announced that transfers of "non-original shares" on Shenzhen's New Third Board will be made temporally exempt from personal income tax. The...

China’s Foreign Reserves Rebound to USD$3.0617 Trillion in November

The latest official data points to a slight uptick in China's foreign reserves in November following three consecutive months of contraction. Data released by the...

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