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Monthly Archives: May, 2019

Hong Kong Monetary Authority Issues Virtual Banking Licenses to Ant Financial, Tencent, Ping An and Xiaomi Subsidiaries

The subsidiaries of a slew of China's leading fintech players have obtained licenses to operate virtual banks in Hong Kong. On 9 May the...

51 Credit Card Enters Comprehensive Strategic Cooperation with CITIC aiBank, Releases “T+” Plan

Chinese credit card company 51 Credit Card (51信用卡) is teaming up with Baidu-backed direct lender CITIC aiBank (百信银行) to cooperate on fintech strategies. 51...

Bad Loans Rise to 16 Year High in Q1 2019 as Beijing Tightens Recognition Standards

Non-performing loans in the Chinese banking sector have lifted to a sixteen year high amidst a push from regulators to tighten up recognition standards...

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. Agricultural Bank of...

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. Gongyin Keji...

Fourth Round of SOE Mixed-ownership Reforms to Encompass over 100 Companies

The next round of trial mixed-ownership reforms of Chinese state-owned enterprises (SOE) is expected to involve at least 100 companies according to statements from...

Renminbi Loans Increase 1.02 Trillion Yuan in April: Chinese Central Bank Data

The latest data from the People's Bank of China (PBOC) points to a robust rise in renminbi lending and the Chinese money supply in...

China’s Trade Surplus Expands 31.8% YoY for Jan – April

Chinese customs data points to a sizeable year-on-year expansion in the trade surplus for the first four months of 2019. Data from the General...

Chinese Social Security Funds Have Nearly 3 Trillion Yuan in Assets under Management

The assets under management of Chinese social security funds are fast approaching 3 trillion yuan according to the latest official data. Figures from the official...

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. Bank of Communications executed...

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