Friday, October 23, 2020
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Tag: Chengdu

Chengdu Grabs Approval for Fintech Sandbox Trials, Joins Eight Other Chinese Cities

The Sichuan province capital of Chengdu has become the ninth city in China to grab approval from the Chinese central bank to...

Chengdu Teams up with Chinese Central Bank on Ambitions to Create Regional Fintech Hub

The People's Bank of China (PBOC) and the Sichuan-province capital of Chengdu have worked together to produce a plan for transforming the...

Chengdu Development Zone Grants Fintech Subsidies to 240 Companies

The Sichuan capital of Chengdu has ambitions to establish itself as an international fintech hub with the provision of subsidies to a slew of...

Shanghai Pudong Development Bank Extended USD$12.14bn in Credit to Shell Companies

China's banking regulator has penalised the Chengdu branch of the Shanghai Pudong Development Bank for providing 77.5 billion yuan (USD$12.14 billion) in loans to...

SPD Denies Losing 160bn Yuan to Shell Companies in Chengdu

Shanghai Pudong Development Bank (SPD) has countered claims that the bank's Chengdu branch was defrauded of billions of yuan. Chinese media reports from early April claimed...

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Fintech Giant Lufax Pursues USD$2.36 Billion Stateside IPO

Chinese fintech giant Lufax has revealed more details on its plans to pursue an initial public offering (IPO) in the US despite...

China to Increase Qualified Domestic Institutional Investor Quota by around USD$10 Billion

China's forex administration has announced a further increase to the foreign investment quota for qualified domestic institutional investors (QDII).

Zhou Xiaochuan Weighs in on Internationalisation of the Renminbi at 2020 Financial Street Forum

Zhou Xiaochuan, the former head of the Chinese central bank, has voiced his opinions on the near-term prospects for the internationalisation of...

PBOC Launches Fintech Research Centre, Calls for “Comprehensive Increase” in China’s Fintech Competitiveness and Influence

A senior official from the People's Bank of China (PBOC) has called for the country to further drive efforts for the development...