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Alibaba’s Hong Kong Listing Expected to be First Paperless IPO
Alibaba’s proposed USD$13.4 billion debut on the Hong Kong Stock Exchange (HKSE) is expected to be its first paperless listing according to local sources. More »
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Fintech
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JD.com’s Fintech Vehicle Invests in Beijing’s New Asset Management Company
JD.com’s fintech subsidiary has emerged as a key investor in a new asset management company (AMC) launched in Beijing to clean up non-performing assets of the local financial sector. More »
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China’s Mobile Banking Transactions Post over 20% YoY Rise in Value in Third Quarter
Mobile banking is playing an increasingly prominent role in China’s banking sector. More »
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Shanghai’s iPS Ordered to Suspend Online Payments Operations after Incurring Record High Fine
One of China’s longest-running payments companies has been ordered by regulators to suspend its online payments operations. More »
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Beijing Tops 2019 List of World’s Leading Fintech Centres
Beijing has come first on a new list of the world’s leading fintech hub cities prepared by research groups in Zhejiang province. More »
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China Merchants Bank and JD.com’s Fintech Vehicle Prepare to Launch Direct Online Lender
A leading Chinese commercial bank and the fintech vehicle of JD.com are currently working together to launch a new online direct bank in China. More »
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Alipay Applies Blockchain to Tmall’s Operations on Record-breaking 11 November Singles’ Day
Alipay has touted the application of blockchain technology to a broad range of Tmall’s operations after Alibaba’s e-commerce platforms posted a record-breaking 268.4 billion yuan in sales on the 11 November Singles’ Day shopping event. More »
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Now’s not the Time for Global Stablecoin: Chinese Central Bank Official
A senior official from the People’s Bank of China (PBOC) says that the time isn’t yet ripe for the release of a global stablecoin like the Libra cryptocurrency mooted by tech giant Facebook. Speaking at the 10th Caixin Summit on 10 November Mu Changchun (穆长春),... More »
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Chongqing Bans All P2P Activity, 29 Platforms on Track to Shut Down
The mid-western mega-city of Chongqing has shut down all P2P lending activities within its jurisdiction. More »
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Ex-PBOC Governor Zhou Xiaochuan Weighs in on Chinese Central Bank Digital Currency, Facebook’s Libra
Zhou Xiaochuan, the former long-standing governor of the Chinese central bank, shared his opinions on the People’s Bank of China’s (PBOC) proposed statutory digital currency as well as Facebook’s proposed Libra stablecoin at the 10th Caixin Summit (2019年第十届财新峰... More »
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China’s P2P Platforms Drop from over 7,000 to under 600, Few Seen Transitioning to Micro-loan, Consumer Finance Operations
Analysts expect few of China’s P2P platforms to make a successful transition to other business models following a regulatory crackdown which has brought their numbers to under 600 from a peak of over 7,000. More »
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Statutory Digital Currency Will be Directly Accessible to Those without Bank Accounts: Chinese Central Bank
The head of the digital currency department of the Chinese central bank says people in China without bank accounts such as tourists will be able to directly obtain its proposed statutory digital currency without first needing to pass through the intermediary o... More »
