Fintech

PBOC Fines China Mobile’s Third-Party Payment Provider for Violating Regulations

PBOC Fines China Mobile’s Third-Party Payment Provider for Violating Regulations

The People’s Bank of China Changsha Central Sub-branch said yesterday that it fined the third-party payment provider of China Mobile Ltd. [HKG:0941] for violations of regulations on Dec. 7.

Dec 27, 2017
Liao Shumin
Blockchain Technology Developer Shanghai Tower Network Raises CNY6 Mln in Angel Funding

Blockchain Technology Developer Shanghai Tower Network Raises CNY6 Mln in Angel Funding

Blockchain technology developer Shanghai Tower Chain Network Technology Co. has raised CNY6 million (USD916,000) in its angel round of funding…

Dec 26, 2017
Tang Shihua
Guangdong Province Unveils China's Most Important Support Policy for Blockchain Development

Guangdong Province Unveils China's Most Important Support Policy for Blockchain Development

The Huangpu district in Guangzhou, capital of South China’s Guangdong province, took the lead in introducing the province's first special…

Dec 26, 2017
Dou Shicong
China Merchants Bank Clears First Cross-Border Interbank Blockchain Transaction in Yuan

China Merchants Bank Clears First Cross-Border Interbank Blockchain Transaction in Yuan

China Merchants Bank Co. [SHA:600036] cleared the world’s first yuan-denominated cross-border interbank transaction using blockchain technologies, establishing a foundation for…

Dec 22, 2017
Dou Shicong
Chinese Fintech Body to Mitigate Risks With New Personal Credit System

Chinese Fintech Body to Mitigate Risks With New Personal Credit System

Rampant illegal activity and widespread noncompliance in the cash loan market have galvanized the National Internet Finance Association of China…

Dec 21, 2017
Song Yikang & Xu Yanyan & Du Chuan
P2P Lending Disputes Are on the Rise in Beijing

P2P Lending Disputes Are on the Rise in Beijing

Beijing No. 3 Intermediate People’s Court handled almost 15,000 peer-to-peer lending cases this year, as the online finance industry comes under rising scrutiny.

Dec 20, 2017
Du Chuan
Tencent Partners Shenzhen Government to Regulate Financial Security

Tencent Partners Shenzhen Government to Regulate Financial Security

Chinese tech stalwart Tencent Holdings Ltd. [HKG:0700] will work with the Shenzhen Municipal Government Financial Services Office to develop a…

Dec 19, 2017
Dou Shicong
SPDB, CreditEase Will Form Partnership Riding Bank-Fintech Firm Tie-Up Wave

SPDB, CreditEase Will Form Partnership Riding Bank-Fintech Firm Tie-Up Wave

Shanghai Pudong Development Bank Co. [SHA:600000] and CreditEase Group, the parent of the fintech firm Yirendai Ltd. [NYSE:YRD], said they…

Dec 19, 2017
Liao Shumin
Alibaba Pumps USD1.2 Billion Into Its Micro Lenders in Order to Meet New Regulation

Alibaba Pumps USD1.2 Billion Into Its Micro Lenders in Order to Meet New Regulation

The finance arm of Chinese e-commerce giant Alibaba Group Holding Ltd. [NYSE:BABA], Ant Financial Services Group, will pump CNY8.2 billion…

Dec 18, 2017
Dou Shicong
Guoyuan Securities Partners JD Finance to Improve Fintech Amid Rise in China’s Consumer Spending

Guoyuan Securities Partners JD Finance to Improve Fintech Amid Rise in China’s Consumer Spending

The finance arm under Chinese e-commerce giant JD.com Inc. [NASDAQ:JD] has struck a deal to offer its technology and services to Guoyuan Securities Co. [SHE:000728] .

Dec 18, 2017
Tang Shihua
Beijing Court Dismisses Bitcoin Investor’s Lawsuit Against Trading Platform Huobi

Beijing Court Dismisses Bitcoin Investor’s Lawsuit Against Trading Platform Huobi

The Beijing Haidian District People’s Court has dismissed a case filed by a Chinese cryptocurrency investor surnamed Chen.

Dec 15, 2017
Chen Juan
China’s Internet Finance Platforms Post Impressive Net Profits Under Increasing Regulatory Pressure

China’s Internet Finance Platforms Post Impressive Net Profits Under Increasing Regulatory Pressure

China’s listed internet finance platforms have achieved steady business and earnings growth in the third quarter, a review of their…

Dec 14, 2017
Liao Shumin

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