The Agricultural Bank of China has announced the suspension of payment channels for certain forms of online lending that are currently coming under greater scrutiny from financial regulators.
Alibaba Group’s online credit vehicle has has seen its consumer lending volume rise to over 600 billion yuan (approx. USD$95 billion) according to sources speaking to Bloomberg.
The China Banking Regulatory Commission hopes to improve data management on the part of the country’s leader with the release of new guidelines for data governance.
The Chinese central bank has revealed that it is working on the development of its own digital currency as part of efforts to improve the speed and convenience of the country’s retail payments system.
The head of the People’s Bank of China has expressed concern about the potential impacts of the “excessively rapid and insufficiently cautious” emergence of cryptocurrencies such as Bitcoin.
The state-run Xinhua News Agency has warned that misunderstandings amongst investors threaten to inflate a bubble in blockchain-related tech stocks.
The Chinese central bank will allow banking sector financial institutions to write-off their capital supplementation bonds or convert them into equity, as part of efforts to shore up their ability to absorb capital losses.
The flagship newspaper of the Chinese Communist Party has published a new article warning readers of the perils of speculative investment in blockchain related stocks.
The flagship newspaper of the Chinese Communist Party has published an editorial warning against the perils of speculation in bitcoin and other cryptocurrencies, as well as flagged heightened scrutiny of the sector.
Hong Kong-based payment provider LianLian International has announced that it will join the RippleNet payment network that facilitates cross-border transactions via the use of blockchain technology.