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China Construction Bank Withdraws from Digital Bond Issuance Due to “Over-excitement” in Cryptocurrency Circles

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One of China's big six state-owned banks has withdrawn from plans to issue digital bonds in collaboration with a digital assets exchange...
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Fintech

Ant Group Grabs Approval for over $3 Billion in ABS Financing for Huabei and Jiebei Platforms

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Chinese fintech giant Ant Group has just secured approval for 20 billion yuan (approx. USD$3.04 billion) in asset-backed security (ABS) financing.
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Economy

Suzhou to Hold Digital Renminbi Lottery During Double 12 Shopping Festival, Test “Dual Offline” Functionality

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The Jiangsu province city of Suzhou plans to conduct digital renminbi lottery trials during this year's Double 12 Shopping Festival, following the...
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Economy

China Leads World in Cross-border Data Flows with 23% Global Share

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China has emerged as the world's firm leader when it comes to cross-border data flows as its digital and online economies continues...
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Banking

Competitiveness of Banks Will Lie in “Data + Algorithms” in Future: Agricultural Bank of China

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A senior official from one of China's big six state-owned banks has highlighted the critical role that fintech will play in shoring...
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Banking

Chinese Banks Are “Quenching Their Thirst with Poison” by Selling Depository Products via Online Finance Platforms: PBOC Official

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Chinese regulators have turned their attention to the use of online lending platforms by smaller banks to draw funds from retail customers...
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Banking

Digital Renminbi Will Reshape Banking and Payments Sectors, Enhance Monetary Policy and Economic Adjustments: Chinese Think Tank Experts

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Experts from the Chinese Academy of Social Sciences (CASS) and the National Institution for Finance & Development (NIFD) see the digital renminbi...
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Economy

JDD and Tencent Hail Digitisation as Key Driver of Chinese Economy Post COVID-19

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China's online tech giants point to digital transformation as a primary driver of economic growth and recovery in the wake of the...
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Fintech

Digital Renminbi Will Break Big Data Monopolies, Replace All Forms of Traditional Money: Bank of China Senior Exec

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A former senior executive with one of China's big six state-owned banks has highlighted the major impacts that the digital renminbi will...
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Fintech

Digital Yuan Will Account for 15% of All Consumer Payments within a Decade, Give Banks Fighting Chance against Fintech Rivals: Goldman Sachs

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A report from Goldman Sachs says that increasing use of China's central bank digital currency (CBDC) could help banks to withstand the...
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Fintech

Chinese Central Bank’s Fintech Division Recruits Blockchain and Big Data Talent

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The Fintech Research Institute of the People's Bank of China (PBOC) has opened hiring for new personnel in areas including big data...
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Fintech

Financial Cloud Market in China Hit USD$1.91 Billion in First Half of 2020: IDC Report

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A new report indicates that the market for financial cloud services in China saw roaring growth in the first half of 2020...
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Latest stories

Bank of Chengdu Launches New “Cloud Converted” Data Centre, Provides AI Customer Service in Sichuanese Dialect

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Sichuanese province lender Bank of Chengdu has announced the launch of a new "cloud converted" data centre."
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Bank of Communications Completes First Offshore Issuance of Perpetual Bond by a Chinese Bank

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Big state-owned lender Bank of Communications (BOCOM) has become the first Chinese bank to issue perpetual bonds offshore.
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Liu He Sheds Light on China’s Dual Circulation Development Strategy

Economy CBNEditor - 0
One of China's senior-most economic policymakers has written an essay for the People's Daily that sheds light on the goals and priorities...
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International Forecasters Upbeat on Chinese GDP Growth in 2020, 2021

Banking CBNEditor - 0
Leading international forecasters anticipate comparatively robust growth for the Chinese economy in 2020 amidst the impacts of the COVID-19 pandemic.
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