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

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

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

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

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

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

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

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

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

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

Alibaba Launches Blockchain Software and Services Firm in Guangdong Province

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

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

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

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

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

SPD Bank Issues New Mobile Payments Card for Overseas Tourists

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

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

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

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

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

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

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

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.