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Monthly Archives: May, 2019

Shanghai the First in China to Approve Full Implementation of Foreign Investment Law

The Shanghai municipal government has just passed a resolution for the full implementation of China's new foreign investment law, making it the first local...

Greater Chinese Banks Strive to Capitalise upon Beijing’s Financial Opening

Banks from Taiwan and Singapore are leading the charge to take advantage of mainland China's recent efforts to open its financial sector to foreign...

Hunan Province Unveils “Ten Fintech Provisions” to Drive Start-up Growth in Central China

The central Chinese province of Hunan has become the third administrative region to unveil a raft of new policies for driving fintech growth within...

Beijing’s New Bitcoin ATM Has Already Been Removed

A Bitcoin ATM that recently made an appearance on a street in Beijing has already been removed by its developers. Online reports recently began to...

CSRC to Grant Domestic Banks Access to China’s Bond Futures Market

China's financial authorities plan to give domestic commercial banks access to the bond futures market, amidst broader efforts to heighten the allure of the...

Structured Deposits Exceed 11 Trillion Yuan, Chinese Regulators Crack Down on Covert High Interest Returns

China's financial authorities are expected to crack down on the use of structured deposits by banks to compete for funds by covertly providing higher...

ICBC, China Construction Bank Grab Approval for Wealth Management Subsidiaries to Operate

Two of China's leading state-owned lender have obtained approval from the banking regulator for their wealth management subsidiaries to commence operation. On 22 May the...

Tencent Teams up with Shenzhen Stock Exchange to Launch Joint Fintech Laboratory

One of China's leading online tech giants will cooperate with the Shenzhen Stock Exchange on research into new fintech applications. Tencent and the Shenzhen...

China’s Big Four State-owned Banks Retrench Nearly 50,000 Staff in Two Years, Fintech Teams Still Expand

The latest round of financial reports from China's listed banks points to ongoing, sector-wide declines in staff numbers. During the two year period from the...

China’s 5G Technology has Reached “Commercial Levels,” Scheduled for Nationwide Network Transfer Before December

The Chinese central government is touting the readiness of the country's 5G technology amidst escalating trade tensions with the United States. Wen Ku (闻库),...

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