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Use of Cryptocurrency for Criminal Activity in China on the Rise: Peak Domestic Payments Body

The peak body for China's payments sector has highlighted a rise in the use of cryptocurrency domestically for illegal activities.

360 DigiTech Commits to Beijing’s Carbon Mitigation Targets, Fintech-driven Green Finance Growth

NASDAQ-listed Chinese fintech platform 360 DigiTech has committed to achieving carbon mitigation targets set by Beijing in 2020, as well as using...

HKMA Will Work on Digital Hong Kong Dollar as Part of Fintech 2025 Strategy

The Hong Kong Monetary Authority (HKMA) has announced that it plans to research the development of its own digital currency as part...

China’s Peak Internet Finance Body Calls for Crackdown on Credit for Cosmetic Procedures

The peak body for China's online finance sector has called for heightened scrutiny of credit extended to consumers for medical cosmetic procedures....

Shenzhen Will Allow Foreign Companies to Obtain Payments Licenses as Part of Ambitious Financial Opening Plans

The Shenzhen municipal government has outlined a raft of measures to expedite the opening of the regional financial sector to foreign investors,...

Tencent Applies for New Fintech Trademark for Consumer Finance Platform Similar to Ant Group’s Huabei

Chinese tech giant Tencent has just submitted an application for a new fintech-related trademark that will be used for a consumer finance...

China Aspires to Global Blockchain Leadership by 2025

The Chinese central government has issued a new policy that outlines ambitions for China to become a global leader in blockchain technology...

China’s Privately Operated Banks May Scramble for Funds as Regulators Step up Pressure on Deposit Interest Rates

Interest rates for deposit products offered by China's privately operated banks have sunk in the wake of heightened regulatory scrutiny, leading to...

Digital Renminbi Makes Its Debut at Aged Care Facilities in Sichuan Province

A leading aged care facility in the Sichuan province capital of Chengdu has adopted the Digital Renminbi for payments and transactions made...

Shanghai Becomes Latest City in China to Hold Digital Renminbi Lottery

Shanghai has joined the ranks of cities that have held lotteries for the issuance of the Digital Renminbi to local consumers as...

Data Protection the Most Urgent Priority for Chinese Finance: Sichuan Province Fintech Association

The head of the peak research body for the fintech sector in Sichuan province has highlighted the critical importance of shoring up...

Guangzhou’s Fintech Sandbox Unveils Second Batch of Innovation Projects

The Guangzhou municipal authorities have just made public a total of four new innovation projects for the second round of its fintech...

Latest stories

Structured Deposits at Chinese Banks Drop to New Low for 2021 in May

Outstanding structured deposits of Chinese banks have further fallen to a new low for the year following a crackdown on use of...

Bank of China Commits to Development of New Blockchain Applications

A senior tech executive from one of China's big state-owned banks has stressed the lender's commitment to the development and application of...

China’s Loan Prime Rate Unchanged for 14th Consecutive Month in June

The benchmark rate for the Chinese banking sector has held steady for the 14th consecutive month in the month of June. 

Guangxi Rural Credit Society Becomes 14th Chinese Bank to Establish Fintech Subsidiary

A rural lender in the south-western province of Guangxi has become the latest banking sector financial institution in China to launch its...