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Monthly Archives: April, 2019

China Accelerates Financial Inclusion Lending in First Quarter of 2019

Data from the China Banking and Insurance Regulatory Commission (CBIRC) points to a sizeable acceleration in financial inclusion lending since the start of 2019....

Beijing Plans to Downgrade Personal Credit Ratings for Eating and Drinking on Subway System

The municipal government of Beijing has unveiled plans to punish the credit ratings of citizens for improper behaviour on the metro system. Beijing municipality...

Over a Third of Shanghai, Beijing Workers Earn above USD$1485 a Month

A new report on urban incomes in China from tech giant Tencent indicates that Beijing, Shanghai and Shenzhen are home to the most richly...

SPD Bank Teams up with Baidu and China Mobile to Create “Digital Person” for Its Mobile App

Shanghai Pudong Development Bank is teaming up with Baidu and China Mobile to create a "digital person" (数字人) as part of its new humanized...

China’s State Administration of Foreign Exchange Launches Blockchain-driven Cross-border Trade Finance Platform

The Chinese central government's foreign exchange authority has launched a new blockchain-driven platform to facilitate cross-border trade financing. The State Administration of Foreign Exchange...

Chinese Central Bank Uses Targeted Medium-term Lending Facilities to Inject 267 Billion Yuan in Liquidity

The People's Bank of China (PBOC) used its targeted medium-term lending facilities (TMLF) to supply 267.4 billion yuan in credit to certain commercial banks...

Mobile Banking Clients of China’s Big Five State-owned Banks Exceed 1 Billion

Finance consumers in China are making increasing use of the mobile banking services provided by the country's leading state-owned lenders. The 2018 annual reports...

Yu’e Bao’s Money Market Funds Breach 2 Trillion Yuan in Scope, Returns Drop Below 2.5%

Money market funds that are currently available via Ant Financial's Yu'e Bao platform have seen a sizeable rise in their collective value in tandem...

Chinese Central Bank Shoots Down Rumours of Required Reserve Ratio Cut Once Again

The People's Bank of China (PBOC) has issued its second refutation in under a month of reports that it plans to further reduce the...

Beijing Launches China’s First Blockchain-driven Notarial Certificates

China's first blockchain-driven notarization services have been launched in the capital city of Beijing. The Beijing Zhongxin Notary Public Office (北京市中信公证处) issued China's first...

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