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Monthly Archives: August, 2018

Shanghai’s Lujiazui Financial District Sees Protests over Failed P2P Platform

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Chinese investors in online peer-to-peer (P2P) lending platform PPMiao have staged protests at the Shanghai office of one of its key shareholders, as problems...

World’s Biggest Private Software Firm Opens Fintech Lab in Nanjing

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The world's largest privately held software company has opened a new fintech laboratory in the Jiangbei New Area of Nanjing. The SAS Fintech Laboratory (SAS金融科技实验室)...

China Host to More than 800 Million Netizens, Over 70% Aged 10 – 39

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The number of internet users in China swelled to over 800  million by the end of the first half of this year, with young...

Market to Play a Decisive Role in China’s Corporate Deleveraging: NDRC

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A senior official from the National Development and Reform Commission (NDRC) says that  the market must play a "decisive role" in ongoing efforts to...

Big Data and Blockchain Lab for Sports Sciences Opens at Peking University

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China is seeing the use of blockchains across a broader range of areas, with the launch of a new laboratory at one of the...

Smartphone Giant Xiaomi Plans to Open Virtual Bank in Hong Kong

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Chinese smartphone giant Xiaomi hopes to expand its presence into the fintech sphere with plans to launch a virtual bank in Hong Kong. According to...

Beijing Orders Local Governments to Tackle Hidden Debt Pile

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The Chinese central government has ordered local governments to thoroughly investigate and curb their "hidden debt" levels as part of ongoing efforts to deleverage...

US Banks Fret over Impact of Trade War on Middle Kingdom Ambitions

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US banks have expressed concern over the potential impact of unresolved trade tensions on their plan to expand into the Chinese market, just as...

Beijing Summons Officials from Chinese Cities Posting Rapid Home Price Growth

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The Chinese central government has summoned senior officials from cities around the country to reiterate the importance of maintaining local real estate market control...

Chinese Hackers Arrested for Stealing Nearly $87 Million in Cryptocurrencies

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A trio of hackers in China have been arrested by police for stealing as much as 600 million yuan (approx. USD$87 million) in cryptocurrencies. Authorities...
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