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Chinese Central Bank’s Digital Currency Research Institute Enters Strategic Cooperation with China’s Rural Credit Clearing Centre

The Digital Currency Research Institute of the People's Bank of China (PBOC) has entered a strategic cooperative agreement with the Rural Credit...

Digital Renminbi Will Enable Precision Control of Money Supply: Ex-Bank of China Head

Li Lihui (李礼辉), former head of the Bank of China and current head of blockchain research at China's National Internet Finance Association,...

Shenzhen Lottery Winners Use Digital Renminbi to Pump Fuel, Pay for Meals

The winners of a recent digital renminbi lottery held in the southern tech hub of Shenzhen have used some of their proceeds...

Chinese Central Bank Digital Currency Seen Driving Cross-border Payments, Renminbi Internationalisation

Chinese experts see the central bank digital currency (CBDC) as a vital means of facilitating cross-border transactions and expediting the internationalisation of...

Regulators Driving Remote Account Opening – What Banks Need to Know

By Stanley Yu, Director, Hong Kong, Fenergo COVID-19 has radically transformed the financial services industry across APAC. With forced...

Ant Group Raises Target Valuation to USD$280 Billion

Chinese fintech giant Ant Group plans to raise the target value for its IPO to USD$280 billion according to sources.

Postal Savings Bank of China Enters Comprehensive Strategic Cooperative Agreement with JD.com’s Fintech Subsidiary

One of China's big six state-owned banks has entered a strategic cooperative agreement with the fintech subsidiary of a leading Chinese e-commerce...

China’s Most Valuable Brands Dominated by Online Giants and Financial Institutions, Top 100 Approach $1 Trillion in Value

A new list of China's most valuable brands points to strong dominance of the country's tech and finance sectors.

Ant Group Comes under Scrutiny for Exclusive Online Fund Sales, Denies”Underwriting Its Own IPO”

Fintech giant Ant Group is facing heavy scrutiny over a potential conflict of interest involving the exclusive sale of investment funds via...

Postal Savings Bank of China Deploys AI-Driven Big Data Project with Guidance of Central Bank

One of China's big six state-owned banks is making use of artificial intelligence (AI) and big data technology to augment operations at...

China Launches 11 New Bases for Development of Hi-tech Sector, Beijing Designated as AI Centre

The Chinese central government has announced the launch of nearly a dozen new hubs around the country for the development of hi-tech...

ATM Numbers Plunge by 40,000 in China as COVID-19 Spurs Digital Payments and Online Banking Adoption

The presence of Automatic Teller Machines (ATM's) in China has drastically fallen in the wake of the widespread use of digital banking...

Latest stories

China’s P2P Platforms Drop from 5000 to Less Than 6

Chinese P2P lending has been all-but squeezed out of existence by regulators in response to widespread issues with fraud in the once-flourishing...

CSRC Says Blockchain Used in Regtech Pilot Schemes for China’s Regional Equity Markets

A senior official from the China Securities Regulatory Commission (CSRC) has highlighted the application of blockchain technology to regulatory trials in the...

China’s Top Finance Regulators Send Raft of Policy Signals at 2020 Financial Street Forum

Senior officials from the People's Bank of China (PBOC), the China Banking and Insurance Regulatory Commission (CBIRC) and the China Securities Regulatory...

PBOC to Issue New Rules on Assessment of Systemically Important Banks

A senior official has flagged the imminent launch by the Chinese central bank (the People's Bank of China) of new rules governing...