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Monthly Archives: October, 2018

Over 100M China UnionPay Cards Issued Abroad, Transaction Volume Up 40% YoY in 2018

Chinese bank card giant UnionPay is fast expanding its overseas presence in terms of cards issued abroad as well as transaction volumes. Data just released...

Housing Prices in China’s First-Tier Cities Post On-month Decline in September

Both new and pre-owned housing prices in China's first-tier cities saw month-on-month declines in September, while price growth eased in the country's second and...

Xiaomi Makes Bold Foray into India’s Consumer Finance and B2B Sectors

Chinese smartphone giant Xiaomi has ambitions to expand into India's consumer and B2B loan market with the launch of a new financial institution in...

China Will Accelerate Creation of Blockchain Standardisation System

Beijing has unveiled plans to create a standardised system for blockchain technology in China. China's Ministry of Industry and Information Technology (MIIT) will "drive the...

Chinese Central Bank Strengthens Internet Credit System, Pushes Online Lenders to Sign up

The People's Bank of China (PBOC) has adopted measures to strengthen regulation of online credit information in the wake of the breakneck growth of...

CBIRC Tells Rural Banks to Accelerate Disposal of Non-performing Loans

The Chinese banking regulator has ordered the country's rural commercial banks to accelerate their handling of non-performing loans after a major tightening of recognition...

Yields on Bank Wealth Management Products Decline for Seventh Consecutive Month in September

The yields on wealth management products (WMP's) sold by Chinese banks have seen their seventh consecutive month of decline, following the launch of asset...

Tianfeng Securities Enters Cooperative Agreement with Artificial Intelligence Firm

Chinese brokerage Tianfeng Securities hopes to step up its fintech capabilities by striking a cooperative agreement with an artificial intelligence firm. Tianfeng Securities signed an...

Ant Financial Launches Online Mutual Insurance Service with Trust Mutual Life

Ant Financial has teamed up with China's Trust Mutual Life (信美人寿相互保险社) to launch online mutual insurance products via the Alipay platform. Alipay's new online "XIanghu...

Mobile Payments Usage Rate of Chinese Tourists Under 45 Travelling Abroad Hits 43%: McKinsey

A new report from McKinsey points to the increasing use of mobile payments by the fast-rising number of Chinese tourists who travel  abroad. The report...

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