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Yearly Archives: 2019

Tencent’s Investment Deals Plunge 33% YoY in 2019, Investment Sum Drops by over Half

Shenzhen-based tech giant Tencent has scaled back its investments dramatically in 2019 after embarking upon a concerted purchasing spree back in 2018. Tencent's...

Xiaomi Finance App amongst 41 Apps Reported for Rights Violations, Over Half Involve Private Data Collection

The Xiaomi Finance (小米金融) app is one of 41 apps that have been the subject of recent complaints over rights violations. On 19 December...

Central Bank Official Says Its Fintech Sandboxes Will Have “Chinese Characteristics”

A senior official from the People's Bank of China (PBOC) said that China's fintech sandboxes will both cleave to international standards as well as...

CBIRC Pushes for 2 Trillion Yuan in Micro and Small Enterprise Loans in 2020

The Chinese banking and insurance authority has called for an increase in financial inclusion loans to micro and small enterprise (MSE) loans in 2020....

Alibaba’s Blockchain Platform for Charities Makes First Automated Payment

Chinese e-commerce giant Alibaba has announced the successful completion of the first automated payment made using its blockchain platform for charitable organisations. Alibaba used...

Temasek-backed Tongdun Technology Accused of Earning 900 Million Yuan from Illegal Sale of Personal Data

A Hangzhou-based Chinese fintech company backed by Singaporean sovereign wealth fund Temasek is alleged to have obtained the king's share of its revenue over...

Regional Lender Hengfeng Bank Set to Receive 100 Billion Yuan Bailout from Beijing

The travails of another beleaguered Chinese regional bank have prompted the launch of a rescue package by Beijing which will confer control upon central...

Ping An Teams up with Japan’s SBI Holdings to Launch Fintech Joint Venture

Chinese financial conglomerate Ping An Insurance (Group) has entered an agreement with Japanese financial services giant SBI Holdings to launch a fintech joint-venture in...

PBOC Wants Regulatory Mechanism for Innovative Blockchain Financial Applications

The Chinese central bank has called for greater regulation of the application of blockchain technology in the financial sector. Chen Liwu (陈立吾), vice-head of...

China Has World’s Highest Wealth Accumulation Rate: Standard Chartered Report

A new report on savings rates and retirement expectations around the world found that China was host to both the highest wealth accumulation rate...

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