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Digital Economy Makes 67.7% Contribution to Chinese GDP Growth
The digital economy accounted for over two-thirds of China’s GDP growth in 2019 according to the latest raft official data. More »
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Fintech
1215 posts
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Suning Finance Teams up with XWBank to Provide Digital Supply Chain Financing to Small Business
The finance vehicle of Chinese retail giant Suning has entered an agreement with a leading digital bank in China to provide digital supply chain financing to micro-and-small enterprises. More »
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China Host to World’s Highest Mobile Banking Rate for Seniors, over 60% Victims of Fraud: HSBC Survey
A survey from HSBC has found that mainland China has the world’s highest mobile banking penetration rate amongst its seniors demographic. More »
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Chinese Policy Bank ADBC Enters Cooperative Agreement with Alibaba’s Online Lender MYBank
Agricultural Development Bank of China (ADBC) and Alibaba-backed MYBank have launched what is reportedly the first comprehensive strategic partnership between a policy bank and a digital bank in China. More »
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Alibaba Launches Rhino Smart Manufacturing Platform, Opens Cloud-driven Digital Factory in Hangzhou
Chinese tech giant Alibaba has just launched a new smart manufacturing platform that incorporate a swathe of advanced technologies including cloud computing, the Internet of Things and artificial intelligence. More »
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Du Xiaoman Financial Teams up with Chinese Academy of Sciences on Artificial Intelligence, Emotional Voice Recognition
Baidu’s fintech spinoff Du Xiaoman Financial has entered an agreement with the Chinese Academy of Sciences (CAS) to train up postdoc talent in the field of artificial intelligence (AI). More »
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CITIC Group Enters Strategic Cooperative Agreement with Alibaba and Ant Group on Fintech and Industrial IoT
State-owned investment company CITIC Group has announced the launch of a cooperative partnership with leading e-commerce and fintech players Alibaba Group and Ant Group. More »
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Digital Renminbi Will Not Accrue Interest or Incur Services Fees, Commercial Banks Responsible for Exchange: PBOC
A senior official from the Chinese central bank has provided further details on the statutory digital currency that is currently being trialed in multiple cities throughout China. More »
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Ant Group Denies Reports It Worked with Megvii on Commercialise Usage of Facial Recognition Data
Fintech giant Ant Group has denied reports based on remarks by leading Chinese computer scientist Li Kaifu (李开复) that it has made use of facial recognition data for commercial purposes. More »
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Tencent’s 2020 Digital China Report Highlights Pearl River Digitisation, Nationwide Surge in Cloud Usage
A new report from Tencent on the state of China’s digital economy points to the widespread digitisation measures of cities in the Pearl River Delta, as well as increasing usage of cloud computing in China on a nationwide scale. More »
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Cloud Infrastructure Spending in China up 70% in Q2 2020, Alibaba, Tencent Lead Spending
Spending on cloud infrastructure services surged in China in the second quarter of 2020, amidst a global rise in expenditures in the sector. More »
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Beijing Officially Launches Big Data-driven Cross-border E-commerce Platform
The Beijing municipal government has announced the launch of a new big data-driven services platform for cross-border e-commerce trials. More »
