Friday, November 27, 2020
Home Fintech

Fintech

ByteDance Conducts Internal Testing of Online Consumer Finance Product

Tech company ByteDance is testing out a new consumer credit product that will be made available via Douyin - the original Chinese...

Pinduoduo Posts First Profitable Quarter During COVID-19 Pandemic

NASDAQ-listed interactive e-commerce platform Pinduoduo has just posted its first ever profitable quarter in its five years of operation.

JD.com Sees Active Users Increase by 100 Million During COVID-19 Pandemic

Chinese e-commerce platform JD.com has seen a surge in active users during the spread of the COVID-19 pandemic.

Private Banks in China Use Online Platforms to Offer Annualised Rates of up to 7.35%

China's privately run banks are using online finance platforms to sell deposit products that provide exorbitant rates of return compared to the...

Financial Innovations Must Not Lead to Oligopoly Formation: China’s Banking Regulator

A senior official from the China Banking and Insurance Regulatory Commission (CBIRC) has signalled that the Chinese central government will seek to...

Shanghai Flags Launch of Digital Renminbi Trials

The Chinese financial hub of Shanghai is set to join the list of cities where trials of China's central bank digital currency...

China Construction Bank Helps Issue Blockchain-based Digital Bonds in Malaysia, Denies Acceptance of Bitcoins for Transactions

One of China's big six state-owned banks is helping to issue blockchain-based bonds in the Malaysian tax haven of Labuan.

Double 11 Sales Festival Tests Blockchain and Cloud Computing Capabilities of Chinese E-commerce Giants

China's e-commerce platform have availed themselves of the latest fintech applications to ensure their successful operation during the intensely competitive Double 11...

Sina Converts P2P Platform into Micro-loan Subsidiary Despite Tightening of Online Lending Regulations

NASDAQ-listed Chinese internet giant Sina Corp has grabbed a license for the launch of its own micro-loan subsidiary despite a crackdown on...

Digital Renminbi in Use at over 6,700 Pilot Sites around China for 1.1 Billion Yuan in Transactions

China's trials of its central bank digital currency (CBDC) have spread to an increasing number of pilot sites around the country.

Online Payments in China Hit Fresh Record High During 2020 Double 11 Shopping Festival

Online payments processing saw surging growth during China's November 11 Shopping Festival in 2020 to hit record high levels, despite the ongoing...

China Cracks Down on Monopolistic Conduct of Online Tech Giants

China has unveiled the draft version of new anti-monopoly laws that target the immense economic power of the country's incumbent tech giants....

Latest stories

Bank of Chengdu Launches New “Cloud Converted” Data Centre, Provides AI Customer Service in Sichuanese Dialect

Sichuanese province lender Bank of Chengdu has announced the launch of a new "cloud converted" data centre."

Bank of Communications Completes First Offshore Issuance of Perpetual Bond by a Chinese Bank

Big state-owned lender Bank of Communications (BOCOM) has become the first Chinese bank to issue perpetual bonds offshore.

Liu He Sheds Light on China’s Dual Circulation Development Strategy

One of China's senior-most economic policymakers has written an essay for the People's Daily that sheds light on the goals and priorities...

International Forecasters Upbeat on Chinese GDP Growth in 2020, 2021

Leading international forecasters anticipate comparatively robust growth for the Chinese economy in 2020 amidst the impacts of the COVID-19 pandemic.