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TikTok’s Chinese Counterpart Confirms Addition of Online Payments Function

Douyin, the Chinese counterpart to social media giant TikTok, has confirmed that it is now capable of providing payments functions following the...

Chinese Central Bank Hails Eradication of P2P Lending, “Orderly Disposal” of High-risk Financial Institutions

The People's Bank of China (PBOC) has highlighted the removal of all of the country's P2P lending platforms in 2020 as part...

China Bans Banks from Selling Depository Products via Third Party Online Platforms

Beijing has issued a new directive which further steps up pressure on the sale of depository products via online fintech platforms, after...

Ant Group Has Established Rectification Team for Business Overhaul: Chinese Central Bank

The People's Bank of China (PBOC) says that Jack Ma's Ant Group has taken further measures in response to pressure from regulators...

China’s Biggest Bank Opens up to Applications for Digital Renminbi Wallets in Shenzhen

The Industrial and Commercial Bank of China (ICBC) is making digital renminbi wallets available to consumers in the southern tech hub of...

Nearly 3/4 of Chinese Mobile Payments Customers Were Daily Users in 2020

A new report from the peak body for China's payments sector indicates that nearly three quarters of Chinese mobile payments users made...

Shenzhen Fintech Sandbox Announces Second Round of Innovation Projects

The southern Chinese city of Shenzhen has announced the second batch of projects for its fintech sandbox.

Tencent’s WeBank Wins Award for Supporting COVID-19 Containment Efforts in China

Tencent-backed digital lender WeBank has won an award for its contribution to efforts to contain the impacts of the COVID-19 pandemic in...

Beijing Releases Industrial Internet Campaign Plan for 2021 – 2023, Focus on 5G Applications

China's Ministry of Industry and Information Technology (MIIT) has unveiled a new plan to spur development of the country's Industrial Internet over...

China Sees 93% Surge in Registration of Online Insurance Companies in 2020, CBIRC Mandates Full Licensing

China saw an abrupt surge in companies seeking to join the online insurance sector in 2020, with authorities now stepping up efforts...

China’s Internet of Things Market Expected to Reach USD$300 Billion by 2024, Account for 27% Global Share

A new report forecasts rapid growth in China's Internet of Things (IoT) market over the next several years.

JD.com Merges JDD into New Tech Subsidiary

Chinese e-commerce giant JD.com has announced the launch of a new tech subsidiary which will incorporate pre-existing fintech vehicle JDD (京东数科).

Latest stories

Users of Everbright’s Cloud-Driven Utilities Payment Platform Exceeded Half a Billion in 2020

China Everbright Bank has seen users of its cloud-based utilities payments service surge in 2020, as the COVID-19 pandemic drove sharp gains...

China Unlikely to See Real Estate Loan Rates Decline in 2021 as LPR Holds Steady for Ninth Month Straight

Domestic analysts say that Chinese banks are unlikely to significantly reduce rates for real estate loans in 2021, as regulators continue to...

Chinese Central Bank Unveils Anti-Trust Measures Permitting Break up of Third-Party Payments Platforms

The People's Bank of China (PBOC) will have the power to recommend the dismantling of third party payments platforms under new measures...

Pinduoduo Owner Applies for Payments Trademark

A major shareholder in NASDAQ-listed agricommerce platform Pinduoduo has applied with Chinese authorities to register a Pinduoduo-related payments trademark.