Friday, April 16, 2021
Tags Fintech

Tag: Fintech

Online Lending Platforms Struggle to Provide Compensation Post-Liquidation

Heightened regulatory scrutiny has left online lending platforms hard hit, with a plunge in the launch of new platforms and failure on the part...

Ethereum Declared Best Blockchain by Chinese Government

A new report from China's Ministry of Industry and Information Technology (MIIT) has named Ethereum the leading public blockchain. The report from MIIT's China Center...

“Blockchains Have No Future as Money”: China’s Central Bank

People's Bank of China counsellor Sheng Songcheng (盛松成) has put a dampener on any hopes that cryptocurrencies will enter widespread use in China as...

China’s Unicorns Concentrated in Four Cities: Ren Zeping

A new report says that China's unicorn start-ups are primarily concentrated in the four cities of Beijing, Hangzhou, Shanghai and Shenzhen, and primarily dependent...

“China and the US Will Account for 90% of Breakthrough Artificial Intelligence Firms”

American venture capitalist Jim Breyer expects the vast majority of "breakthrough" artificial intelligence firms to emerge from either China or the United States over...

Agricultural Bank of China Suspends Consumer Finance, P2P Payment Channels

The Agricultural Bank of China has announced the suspension of payment channels for certain forms of online lending that are currently coming under greater...

Consumer Lending by Ant Financial Doubles Since 2017

Alibaba Group's online credit vehicle has has seen its consumer lending volume rise to over 600 billion yuan (approx. USD$95 billion) according to sources...

Zhou Xiaochuan Reveals PBOC Is Developing Its Own Digital Currency

The Chinese central bank has revealed that it is working on the development of its own digital currency as part of efforts to improve...

“Scope of Blockchain Bubble Equals the Scope of Misunderstanding”: Xinhua

The state-run Xinhua News Agency has warned that misunderstandings amongst investors threaten to inflate a bubble in blockchain-related tech stocks. A new Xinhua article entitled "Blockchains:...

Chinese Communist Party Issues New Warning on Blockchain Speculation

The flagship newspaper of the Chinese Communist Party has published a new article warning readers of the perils of speculative investment in blockchain related...

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Chinese Central Bank Appoints 48 Year-old Deputy Mayor of Chongqing as New Deputy Governor

The People's Bank of China (PBOC) has just expanded its senior leadership cohort with the addition of a new deputy governor drawn...

Beijing Cracks Down on Local Finance Platforms, Demands “Peeling Away” of Government Funding Role, Bankruptcies for Insolvent Firms

The State Council of China has issued new regulations concerning the handling of local finance platforms in a bid to stymie their...

Chinese CPI Bounces Back into Positive Territory in March

China's consumer price index (CPI) resumed positive YoY growth in March, as the domestic economy continues to recover from the impacts of...

Renminbi Lending Increases USD$1.17 Trillion in First Quarter of 2021

Chinese banks extended over USD$1.1 trillion in new loans in the first quarter of 2021 according to the latest data from the...