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Foreign Fiscal, Monetary Policy Puts China’s Financial Security at Risk: Xi Jinping

The Chinese president has pointed to the fiscal and monetary policies of other nations as potential sources of risk for China's finance sector. State media reports...

Fintech to Push Consumer Finance Market to Over $1.74tn by 2020

Rising domestic consumption and a fintech boom are expected to drive an expansion in China's consumer finance market to over 12 trillion yuan (approx. $1.74 trillion) by the end...

Authorities Sound Alarm Over Illegal Fundraising

Chinese authorities are planning a crackdown on illegal fundraising due to concerns over its increasing sophistication and spread from coastal regions into China's interior. The latest...

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Xi Jinping Hails “Complete Victory” in China’s Efforts to Eradicate Extreme Poverty

Chinese President Xi Jinping has publicly hailed the success of China's efforts to eradicate extreme poverty in the country's rural countryside.

Ant Group Plans to Merge Huge Micro-Loan Business with New Consumer Finance Unit: Sources

Chinese fintech giant Ant Group reportedly plans to incorporate its highly lucrative micro-loan operations into a new consumer finance unit, in order...

World’s Biggest Bank to Welcome 30 Year Veteran of China Construction Bank as President

China and the world's biggest bank in terms of assets is set to welcome a 30-year veteran of another big state-owned lender...

Tencent Cloud Helps Guangzhou Rural Commercial Bank to Create Full Stack Financial Cloud Platform

The cloud subsidiary of tech giant Tencent has helped one of the leading regional banks in Guangdong province to develop its own...