Saturday, April 17, 2021
Tags Chinese online finance

Tag: Chinese online finance

Curbs on Data Collection by Chinese Fintech Apps Set to Come into Effect at Start of May

China is on track to launch new rules that place limits on data collection by financial apps, amidst efforts to tighten regulation...

Ant Group Outlines Self-Regulatory Measures for Online Finance Platforms, Calls for Greater Focus on “Ethical Duties”

Chinese fintech giant Ant Group has issued new guidelines for online financial operations in the wake of heavy scrutiny from regulators that...

Online Lender XWBank Accused of Levying Excessive Services Fees for Vehicle Loans

Sichuan-based direct lender XWBank (新网银行) stands accused of driving up financing costs for consumers by means of exorbitant services fees.

China Cracks Down on “Harvesting” of College Student Consumer Loans by Online Finance Platforms

The Chinese central government has just issued a new directive aimed at curbing online consumer lending activities that specifically target college students....

Chinese Communist Party Commits to Regulation of All Forms of Financial Activity, Highlights Problems with Online Finance

A leading organ of the Chinese Communist Party (CCP) has committed to the inclusion of all forms of financial activity within China...

Tencent’s Pony Ma Submits Proposal for Greater Regulatory Protections of Online Funds to Chinese Congress

The head of Chinese tech giant Tencent has called for Chinese regulators to step up their protections of fintech and e-commerce users...

China Tightens Regulation of Online Lending by Commercial Banks with Slew of New Restrictions

The Chinese government has further stepped up its regulation of online lending by domestic commercial banks with a new directive that places...

Alipay, JD.com Remove All Bank Deposit Products from Sale via Online Platforms

China's Internet finance giants have completed the full withdrawal of bank deposit products from sale to both old and new customers via...

China Sees 93% Surge in Registration of Online Insurance Companies in 2020, CBIRC Mandates Full Licensing

China saw an abrupt surge in companies seeking to join the online insurance sector in 2020, with authorities now stepping up efforts...

Chinese Central Bank Calls for Stronger Macro-prudential Regulation of Online Finance at Inaugural Work Meeting for 2021

The People's Bank of China (PBOC) has sent a raft of key policy signals at its inaugural work meeting for 2021, including...

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Actually Used Foreign Investment in China Rises Nearly 40% in First Quarter, New Foreign Invested Enterprises up 47.8%

China has seen a surge in foreign investment in the first quarter of 2021 compared to the same period in 2020, with...

China’s Q1 GDP Surges 18.3% YoY, Two Year Average Growth Rate at 5.0%

Chinese GDP in the first quarter of 2021 has seen a surge compared to the same period last year, given the low...

MLF Rates Remain Unchanged for 13th Consecutive Month as Chinese Monetary Policy Stresses Stability

The Chinese central bank's open market operations (OMO) have kept the rate for medium-term instruments unchanged for over a year, with analysts...

PBOC Reiterates Commitment to Anti-trust Enforcement in Chinese Payments Sector, Development of Cross-border Payments

The Chinese central bank has stressed its commitment to enforcing anti-trust measures in China's payment sector, as well as efforts to improve...