Monday, January 25, 2021
Tags Chinese microloans

Tag: Chinese microloans

Tencent’s WeBank Reduces Maximum Ceiling for Microloans by 1/3 in Response to CBIRC Directive

Tencent-backed digital lender WeBank has announced a sizeable reduction in the maximum amount for its key microloan product in response to new...

CBIRC Steps up Pressure on Use of Microloan Funds for Investment in Stocks and Derivatives

The China Banking and Insurance Regulatory Commission (CBIRC) is stepping up efforts to prevent the use of funds from microloan companiess for...

Microfinance Companies in China See Outstanding Loans Decline by USD$4.83 Billion in First Quarter of 2020

The latest data from the Chinese central bank points to sizeable declines in both the number the outstanding loan balance of Chinese...

Guangzhou to Allow Establishment of Wholly Foreign-invested Micro-loan Companies

The Guangdong province capital of Guangzhou has just announced that it will allow foreign investment in micro-loan companies within its jurisdiction as...

Online Microloan Companies in China Set to Come under Unified Regulation

China's 280 online microloan companies are expected to soon come under unified administrative regulation according to domestic media reports.

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Tencent Drops Advertising Veteran Lau Seng Yee from Roster of Top Executives

Chinese tech giant Tencent has removed a veteran advertising executive from the line-up of its senior-most personnel, as online companies in China...

Ant Group and Others Engage in Monopoly Conduct, But “Regulatory Discussions” Will Not Affect Normal Development: CBIRC

The Chinese banking regulator has sought to reassure the broader market that China's business environment for private enterprises will not be adversely...

Chinese Banks See Net Profits Decline 1.8% in 2020

China's banking sector saw a sizeable decline in its net profits for 2020 amidst the adverse economic impacts of the COVID-19 pandemic....

Tencent Expects Cloud Computing to Be Essential Infrastructure for Finance, Domestic Market to Soon Hit 80B Yuan

A senior executive from Chinese tech giant Tencent forecasts that cloud computing will be a key area of development for China's fintech...