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Wuhan’s Z-Bank Becomes Third Private Lender in China to Increase Capital via Share Issue
Wuhan Zhongbang Bank (武汉众邦银行) (Z-Bank) has just completed a deal to double its registered capital levels. More »
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China UnionPay to Make QR Code Payments Accessible on Overseas Public Transportation
Chinese payments giant China UnionPay plans to make its QR code payments system increasingly available on overseas public transit systems. More »
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Beijing Launches New Measures to Bolster Financial Support for Private Enterprises
The Chinese central government has launched new measures to boost and diversify financing channels for private enterprise in China, with an especial focus on MSE’s. More »
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Goldman Sachs, BlackRock Plan to Launch Majority-owned Asset Management Vehicles in China
US investment giants Goldman Sachs Group Inc. and BlackRock Inc. plan to hold majority stakes in new Chinese asset management joint-ventures, according to sources who spoke to Caixin. More »
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Ant Financial to Debut Global Fintech Conference in Shanghai
Payments giant Ant Financial has unveiled plans to host an international fintech conference in the coastal mega-city of Shanghai. More »
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Shanghai Releases 5-Year Fintech Hub Development Plan, Unveils Lujiazui Fintech Development Center
Shanghai has unveiled ambitions to become a leading hub for both the domestic and global fintech sector. More »
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Shanghai and Shenzhen Bourses Clarify Rules for Bank Participation in China’s Exchange-traded Bond Market
The Shanghai and Shenzhen Stock Exchanges have issued new directives providing greater clarification on the requirements for banks participating in the Chinese exchange-traded bond market. More »
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CBIRC to Strengthen Coordination of Financial Regulations across Jing-Jin-Ji Region
The China Banking and Insurance Regulatory Commission (CBIRC) has flagged efforts to improve coordination of financial regulation for the Jing-Jin-Ji region encompassing Beijing, Tianjin and Hebei province. More »
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HSBC Becomes First Foreign Bank to Cooperate with Chinese Central Bank’s Personal Credit Agency
HSBC (China) is set to become the first foreign bank to integrate with the data system of the Chinese central bank’s personal credit agency. More »
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Bank of Hangzhou Becomes First Chinese Bank to Achieve QR Code Integration with NetsUnion
Efforts to integrate China’s QR code payments systems continues, with regional lender Bank of Hangzhou announcing that it has achieved compatibility with leading online payments players. More »
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China Added 13.52 Million Urban Jobs in 2019
Official data points to the creation of over 13 million new jobs in China’s urban areas in 2019. More »
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Domestic Private Enterprise Ousts Foreign-invested Enterprise as Chief Driver of Chinese Foreign Trade
Official data indicates that in 2019 domestic private enterprises emerged as the main driver of China’s foreign trade for the first time, surpassing foreign-invested enterprises. More »
