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TikTok’s Chinese Counterpart Confirms Addition of Online Payments Function

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Douyin, the Chinese counterpart to social media giant TikTok, has confirmed that it is now capable of providing payments functions following the...
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Fintech

Chinese Central Bank Hails Eradication of P2P Lending, “Orderly Disposal” of High-risk Financial Institutions

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The People's Bank of China (PBOC) has highlighted the removal of all of the country's P2P lending platforms in 2020 as part...
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Fintech

China Bans Banks from Selling Depository Products via Third Party Online Platforms

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Beijing has issued a new directive which further steps up pressure on the sale of depository products via online fintech platforms, after...
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Fintech

Ant Group Has Established Rectification Team for Business Overhaul: Chinese Central Bank

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The People's Bank of China (PBOC) says that Jack Ma's Ant Group has taken further measures in response to pressure from regulators...
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Banking

China’s Biggest Bank Opens up to Applications for Digital Renminbi Wallets in Shenzhen

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The Industrial and Commercial Bank of China (ICBC) is making digital renminbi wallets available to consumers in the southern tech hub of...
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Economy

Nearly 3/4 of Chinese Mobile Payments Customers Were Daily Users in 2020

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A new report from the peak body for China's payments sector indicates that nearly three quarters of Chinese mobile payments users made...
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Fintech

Shenzhen Fintech Sandbox Announces Second Round of Innovation Projects

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The southern Chinese city of Shenzhen has announced the second batch of projects for its fintech sandbox.
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Economy

Tencent’s WeBank Wins Award for Supporting COVID-19 Containment Efforts in China

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Tencent-backed digital lender WeBank has won an award for its contribution to efforts to contain the impacts of the COVID-19 pandemic in...
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Economy

Beijing Releases Industrial Internet Campaign Plan for 2021 – 2023, Focus on 5G Applications

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China's Ministry of Industry and Information Technology (MIIT) has unveiled a new plan to spur development of the country's Industrial Internet over...
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Fintech

China Sees 93% Surge in Registration of Online Insurance Companies in 2020, CBIRC Mandates Full Licensing

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China saw an abrupt surge in companies seeking to join the online insurance sector in 2020, with authorities now stepping up efforts...
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Fintech

China’s Internet of Things Market Expected to Reach USD$300 Billion by 2024, Account for 27% Global Share

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A new report forecasts rapid growth in China's Internet of Things (IoT) market over the next several years.
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Fintech

JD.com Merges JDD into New Tech Subsidiary

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Chinese e-commerce giant JD.com has announced the launch of a new tech subsidiary which will incorporate pre-existing fintech vehicle JDD (京东数科).
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Latest stories

Users of Everbright’s Cloud-Driven Utilities Payment Platform Exceeded Half a Billion in 2020

Fintech CBNEditor - 0
China Everbright Bank has seen users of its cloud-based utilities payments service surge in 2020, as the COVID-19 pandemic drove sharp gains...
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China Unlikely to See Real Estate Loan Rates Decline in 2021 as LPR Holds Steady for Ninth Month Straight

Economy CBNEditor - 0
Domestic analysts say that Chinese banks are unlikely to significantly reduce rates for real estate loans in 2021, as regulators continue to...
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Chinese Central Bank Unveils Anti-Trust Measures Permitting Break up of Third-Party Payments Platforms

Finance CBNEditor - 0
The People's Bank of China (PBOC) will have the power to recommend the dismantling of third party payments platforms under new measures...
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Pinduoduo Owner Applies for Payments Trademark

Fintech CBNEditor - 0
A major shareholder in NASDAQ-listed agricommerce platform Pinduoduo has applied with Chinese authorities to register a Pinduoduo-related payments trademark.
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