Monthly Archives: July, 2019

Transfer of State-owned Assets to Chinese Social Security Funds Expected to Hit 660B Yuan

CBNEditor - July 23, 2019 0

The Chinese central government estimates that the transfer of state-owned assets to social security funds from central state-owned enterprises is set to reach around...

China Hopes to Lead Global Fintech Growth in Future: Zhejiang University’s Bi Shenglin

CBNEditor - July 23, 2019 0

A top Chinese fintech expert has outlined China's ambitions for leadership of the international sector in future. Bi Shenglin (贲圣林), head of Zhejiang University's...

Over 270 Chinese Real Estate Companies Capsize as Financing Channels Squeezed

CBNEditor - July 23, 2019 0

Several hundred smaller real estate companies in China have come undone since the start of 2019, as authorities put the squeeze on their access...

Alibaba and Tencent Vie for Domination of China’s Cloud Computing Market

CBNEditor - July 22, 2019 0

Domestic analysts expect the cloud computing market to be a key driver of future growth for Chinese tech giants Alibaba and Tencent. Data from...

Chinese Local Governments Issue 2.8372T Yuan in Bonds in First Half of 2019

CBNEditor - July 22, 2019 0

The latest official data indicates that local government debt in China remained within prescribed quotas as of the end of the first half of...

Chinese Enterprises No Longer Need Central Bank Approval to Open Deposit Accounts

CBNEditor - July 22, 2019 0

The Chinese central bank has brought an end to enterprise bank account licenses 25 years following the launch of the system in 1994. As...

China’s Services Outsourcing Contracts Rise Nearly 30% in Value in First Half of 2019

CBNEditor - July 22, 2019 0

Official data points to a sharp rise in the value of services outsourcing contracts in China in the first half of 2019. Chinese enterprises...

State Council Proposes New Credit Repair Mechanisms for Market Entities

CBNEditor - July 22, 2019 0

The Chinese central government has released new opinions that outline mechanisms for the restoration of the credit status of impaired market entities. The office...

Tencent-backed Virtual Bank Changes Name from Infinium to Fusion Bank

CBNEditor - July 21, 2019 0

A holder of one of the new virtual banking licenses issued by the Hong Kong Monetary Authority has announced the change of its official...

China Could Automate Away 2.5 Million Customer Service Jobs, Banks Amongst Leading AI Adopters

CBNEditor - July 21, 2019 0

Chinese financial institutions are taking the lead in the adoption of artificial intelligence-driven customer service systems that could dramatically reduce staff numbers. Data from...

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