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Ant Group Offers Refund for Exclusive Investment Funds That Prompted Accusations of Underwriting Own IPO

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Chinese fintech giant Ant Group has announced that it is willing to provide refunds for subscribers to investment funds sold exclusively via...
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Fintech

China Telecom Bestpay Plans to Launch Fintech Subsidiary, Sees Annual Transactions Approach 2 Trillion Yuan,

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China Telecom's payments subsidiary Bestpay has unveiled plans to establish its own fintech vehicle.
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Economy

Greater Bay Area Turns to ABCD’s of Fintech to Integrate Regional Port Operations

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The Greater Bay Area of Guangdong, Macau and Hong Kong has launched a project to apply a range of fintech solutions to...
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Finance

CBIRC Loosens Consumer Finance Regulations, Reduces Provisions Coverage Ratio to 130%

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China's banking regulator has taken measures to loosen restrictions on the activities of consumer finance companies.
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Fintech

CITIC Becomes First Chinese Bank to Use Contour’s Digitised Letter of Credit

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China CITIC Bank recently became the first mainland Chinese bank to make use of the digitised letters of credit (LC) provided by...
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Fintech

Alibaba Launches Blockchain Software and Services Firm in Guangdong Province

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E-commerce giant Alibaba has just opened a new tech subsidiary in the southern Chinese province of Guangdong.
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Fintech

China’s Financial Stability Report Flags Stricter Fintech Regulation, Ant Group Expected to Be Heavily Affected

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The People's Bank of China (PBOC) has signalled far stricter regulation of the Chinese fintech sector in its latest financial stability report,...
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Economy

Standard Chartered Teams up with Hong Kong Monetary Authority, Bank of Thailand on Central Bank Digital Currency Trial

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Standard Chartered has entered cooperation with the monetary authorities of Hong Kong and Thailand for trials of the central bank digital currency....
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Banking

SPD Bank Issues New Mobile Payments Card for Overseas Tourists

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Regional lender the Shanghai Pudong Development Bank (SPD Bank) hopes to make the use of mobile payments in China more convenient for...
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Fintech

China’s P2P Online Lending Companies Drop to Just Three from More than 5000 as Era of Wild Growth of Internet Finance Ends

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P2P online lending companies in China have been all but squeezed out of existence following a crackdown on the once-flourishing sector due...
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Fintech

Tencent Steps up Registered Capital of Online Micro-loan Vehicle Following Suspension of Ant Group IPO

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Chinese fintech giant Tencent is taking advanced measures to deal with the tighter regulation of China's online micro-loan sector that analysts believe...
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Fintech

China Zheshang Bank Trials Use of Blockchain Technology to Simplify Reimbursement Procedures for Companies

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Regional lender China Zheshang Bank is trialling the use of blockchain technology to facilitate the processing of reimbursements by companies.
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Latest stories

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

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Sichuanese province lender Bank of Chengdu has announced the launch of a new "cloud converted" data centre."
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Bank of Communications Completes First Offshore Issuance of Perpetual Bond by a Chinese Bank

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Big state-owned lender Bank of Communications (BOCOM) has become the first Chinese bank to issue perpetual bonds offshore.
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Liu He Sheds Light on China’s Dual Circulation Development Strategy

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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...
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International Forecasters Upbeat on Chinese GDP Growth in 2020, 2021

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