Monday, November 29, 2021

State Council Calls for Launch of Digital Asset Exchange, More Digital Renminbi Trials in Beijing Municipal Administrative Centre

The top authority of the Chinese government has called for the further development of the digital economy and fintech capabilities of the Beijing...

People’s Daily Says New Anti-Monopoly Bureau Will Bring China’s Unrestrained Internet Platforms to Heel

The flagship newspaper of the Chinese Communist Party (CCP) says the launch of a new anti-monopoly authority in China marks the end of the...

WeChat, Alipay Personal QR Codes Banned for Business Usage Starting from March

The Chinese central bank plans to step up regulation of QR codes provided by WeChat and Alipay for business purposes, due to concerns over...

CBIRC Curbs Charging of Bank Fees by Online Platforms, Calls for Discounts for Micro Enterprises

The China Banking and Insurance Regulatory (CBIRC) has outlined plans to further standardise and adjust fees levied by the country's lenders. CBIRC issued the...

Ant Group Teams up with State-owned Enterprise to Apply with PBOC for Personal Credit Score License

Alibaba-affiliate Ant Group has teamed up with a leading state-owned enterprise (SOE) in Zhejiang province to apply for a license from the Chinese central...

Ping An’s OneConnect Launches Gamma Core Banking System

The fintech vehicle of Ping An Group has launched a new system for expediting the digital transformation of banking sector financial institutions. OneConnect Financial...

People’s Daily Says New Anti-Monopoly Bureau Will Bring China’s Unrestrained Internet Platforms to Heel

The flagship newspaper of the Chinese Communist Party (CCP) says the launch of a new anti-monopoly authority in China marks the end of the...

Shanghai Data Exchange Officially Opens in Pudong

Shanghai has just seen the official opening of its new exchange for the trading of data assets. The official sign unveiling ceremony for the...

Chengdu Issues China’s First Municipal-level Directive for Banks to Step up Real Estate Lending

The Sichuan province capital of Chengdu has issued a directive calling for greater lending to the real estate sector, as the Chinese government pushes...

Chinese Central Bank Calls for Loosening Risk Restrictions when Lending to Manufacturing Sector

The People's Bank of China (PBOC) has called for financial institutions to loosen their risk requirements for lending priority areas Zou Lan, head of PBOC's...

Beijing Moots Legislation to Permit Government Intervention During Excessive Rent Hikes

The Beijing municipal government plans to introduce legislation that will permit overt intervention when home rental levels see overly rapid increases. The Beijing People's...