WeBank Enters Strategic Cooperative Agreement with People’s Daily for Digital Financial Inclusion

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Tencent-backed private digital lender WeBank has teamed up with the flagship newspaper of the Chinese Communist Party (CCP) to further improve tech-driven financial inclusion in China.

WeBank and the online version of the People’s Daily (人民网) executed a strategic cooperative agreement on 23 September in Shenzhen.

The two parties said that they will “strengthen exchange and cooperation with a focus on servicing the real economy and driving high-level tech independence and strengthening.”

The agreement will also see them “join hands to establish a financial inclusion intelligence exhibition hall, and jointly assist the high-quality growth of the digital economy.”

“WeBank has always supported national policy since its establishment,” said Li Nanning (李南青), president and party secretary of WeBank, which is one of China’s small cohort of private lenders.

‘We have focused on providing high-quality and convenient financial services to the general public and micro-and-small enterprises, and have always placed a strong emphasis on exchange and cooperation with mainstream media.”

WeBank said it has provided its services to over 340 million customers, including nearly 2.8 million small-business clients with legal person status.