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Fintech

Ant Financial Puts Money Into Small Loan Units Despite Increased Scrutiny

Ant Financial Puts Money Into Small Loan Units Despite Increased Scrutiny

Jack Ma’s Ant Financial Services Group, a provider of asset-backed securitization products, put money into two affiliated small loan companies…

Jan 10, 2018
She Qingqi and Xu Yanyan
360 Introduces Blockchain-Based Shared Cloud Platform

360 Introduces Blockchain-Based Shared Cloud Platform

China’s leading network security company Beijing Qihoo 360 Technology Co. (360) has instituted the world’s first shared cloud platform based…

Jan 10, 2018
Dou Shicong
China Will Extend Blockchain Uses Despite Anti-Cryptocurrency Campaign, Sources Say

China Will Extend Blockchain Uses Despite Anti-Cryptocurrency Campaign, Sources Say

There will be more applications for blockchain technology this year, despite China’s efforts to spur virtual currencies and their miners…

Jan 8, 2018
Zhou Ailin
ChinaNet Shares Soar After Tie-Up With Blockchain Firm

ChinaNet Shares Soar After Tie-Up With Blockchain Firm

Shares of ChinaNet Online Holdings Inc. [NASDAQ:CNET], an integrated online advertising, precision marketing and data-analysis and management services platform, surged…

Jan 5, 2018
Liao Shumin
China’s Regulators Freeze Multiple Bitcoin OTC Accounts in Latest Crackdown on Cryptocurrency

China’s Regulators Freeze Multiple Bitcoin OTC Accounts in Latest Crackdown on Cryptocurrency

China’s financial regulators froze a number of Bitcoin over-the-counter, also known as OTC, trade accounts across the country, among which,…

Jan 4, 2018
Dou Shicong
China’s Regulators Act to Ensure Enterprises’ Orderly Withdrawal From Bitcoin Mining, Says Report

China’s Regulators Act to Ensure Enterprises’ Orderly Withdrawal From Bitcoin Mining, Says Report

China’s regulatory authorities have issued a notice to local governments, requiring them to actively guide enterprises within their respective jurisdiction…

Jan 4, 2018
Dou Shicong
Insiders Rebut Rumors PBOC Met to Shut Down Bitcoin Mines

Insiders Rebut Rumors PBOC Met to Shut Down Bitcoin Mines

Insiders have refuted rumors that China’s central bank held a closed-door meeting yesterday with the aim of shutting down bitcoin mines and issuing relevant regulations in the following days.

Jan 4, 2018
Xu Wei
China Calls on US to Create Stable Environment After Ant Financial-MoneyGram Deal Flops

China Calls on US to Create Stable Environment After Ant Financial-MoneyGram Deal Flops

China hopes the US can create a level playing field and a stable environment for Chinese firms, Ministry of Foreign…

Jan 4, 2018
Xu Wei
Ant Financial Pays USD30 Million Penalty After US Nixes Its MoneyGram Buyout

Ant Financial Pays USD30 Million Penalty After US Nixes Its MoneyGram Buyout

Ant Financial Services Group has had to drop its planned acquisition of the world’s second-largest remittance service provider MoneyGram International…

Jan 3, 2018
Xu Wei
New Online Lending Rules Cull 8.55% Platforms in One Month

New Online Lending Rules Cull 8.55% Platforms in One Month

Chinese oversight agencies have issued new regulations to rectify small online loans, precipitating a steep drop in the number of…

Jan 3, 2018
Dou Shicong
Former Senior Executive of Deutsche Bank Cai Kailong Joins Bitcoin Platform Huobi.com, Says Report

Former Senior Executive of Deutsche Bank Cai Kailong Joins Bitcoin Platform Huobi.com, Says Report

Cai Kailong, formerly of Deutsche Bank AG, joined China’s Bitcoin trading platform Huobi.com as its chief strategy officer, taking charge…

Jan 3, 2018
Xu Wei
More Alipay Users Make Mobile Payments as World Shifts Away From Cash

More Alipay Users Make Mobile Payments as World Shifts Away From Cash

About 82 percent of Alipay’s 520 million users paid for goods and services via the platform last year, compared with…

Jan 3, 2018
Liao Shumin

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