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Monthly Archives: May, 2019

Peak Insurance Body Highlights Nine Key Challenges for Chinese Fintech

The peak body for insurance asset management in China has outlined nine key challenges for the country's fintech sector. Cao Deyun (曹德云), executive vice-head and...

89% of 2019 Central Budget Investment Allocated, Expected to Drive Trillions of Yuan in Social Investment

The Chinese central government says it has already allocated nearly 90% of investment outlined under its budget for 2019, which will in turn drive...

China’s Banking Regulator Says Policy Deficiencies Are Holding Back Blockchain Development

A senior official from the China Banking and Insurance Regulatory Commission (CBIRC) says deficiencies in national policy are an impediment to the spread of...

20 of China’s Privately Offered Fund Managers Have Their Registrations Cancelled

A slew of privately offered fund managers in China have just had their registrations cancelled over a range of improprieties. On 24 May the Asset...

Customer Reserve Deposits of Chinese Payments Providers Stable at 1.27 Trillion Yuan in March: PBOC

Data from the People's Bank of China (PBOC) points to overall stabilisation in the customer reserve deposits of Chinese payments providers since the start...

China’s Top Banking Regulator Hails Expansion of Private Sector Economy and Fintech Industry

The senior-most figure in China's banking regulatory system said that the private sector and fintech are playing a pivotal role in the country's economic...

Xiaomi VP Resigns over Breaches of Public Security Law, Detained for Five Days over Obscene Behaviour

Wang Lingming (汪凌鸣), vice-president of Chinese smartphone giant Xiaomi, has resigned from his position over alleged breaches of a key Chinese public security law....

Tencent Leads $250M Financing Round in Travel Website Mafengwo

Tech giant Tencent has played the leading role in the latest round of financing for Chinese travel website Mafengwo (马蜂窝). On 23 May Beijing-based...

China’s Express Delivery Market Posts over 30% Growth in April

China's express delivery sector has seen robust growth since the start of 2019. Figures released by the State Post Bureau indicate that China's national...

Fintech Enables China Merchants Bank to Drive Micro and Small Enterprise Lending Above 400B Yuan

China Merchants Bank (CMB) has used internet-facilitated fintech to drive financially inclusive lending to small businesses. According to recent data from CMB as of...

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