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Banking Fintech

Agricultural Bank of China Teams up with Online Supply Chain Finance Platform on Fintech Innovation

One of China’s big state-owned banks has teamed up with a leading supply chain finance platform to develop new fintech innovations.

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Banking Fintech

ICBC Launches Fintech Subsidiary in Xiong’an New Area Alongside Blockchain-driven Resettlement Platform

The fintech subsidiary of China’s biggest bank in terms of assets has just commenced operation in the Xiong’an New Area of Hebei province.

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Banking Fintech

Bank of Communications Executes Fintech Cooperative Agreement with Huawei

One of China’s big six state-owned banks is teaming up with a leading tech giant to engage in fintech cooperation.

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Banking Fintech

Chinese Central Bank’s Monetary Policy Chief Warns of Regional Fintech Risks, Calls for Reform of Local Regulators

The head of the Chinese central bank’s monetary policy unit has warned of the problems that the rapid development of fintech is creating for local financial regulators, as well as called for a slew of compensating reforms.

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Banking Fintech

Online Lending Platforms in China Fall Below 1000, Drop 60% Compared to 2016 Peak

The number of online lending platforms operating in China on a regular basis has seen a precipitous decline compared to its peak, falling below the 1000-platform threshold for the first time.

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Banking Finance Fintech

Sequoia China to Slash Investment Staff by 20% Following Sluggish Tech Growth

Leading Chinese tech investor Sequoia Capital China plans to shed as much as a fifth of its investment personnel in response to a tech sector slowdown according to sources speaking to Reuters.

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Banking Fintech

Industrial Bank Launches Financial Services Cloud Platform in Fujian Province

A leading commercial bank in China has helped launch a new fintech platform in the south-eastern province of Fujian as part of efforts use big data, the blockchain and cloud computing to drive financial inclusion.

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Fintech

Chinese Fintech Investment Plunges 89% in First Quarter of 2019

Investment in China’s fintech sector has seen a precipitous drop since the start of 2019 according to a new report.

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Banking Fintech

Ant Financial’s MYBank Commits to Being “Idiotic” about Financial Inclusion Following Low Profits in 2018

Online lender MYBank has attributed its poor profit performance in 2018 to efforts to expand financial inclusion for micro and small enterprises (MSE).

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Banking Fintech

Tencent Eyes Development of Blockchain Solutions for Crowdfunded Health Care

Chinese tech giant Tencent is collaborating on the development of blockchain-based insurtech solutions as part of efforts to compete against chief rival Ant Financial in the new healthcare crowdfunding space.