Top 8 Hong Kong & China Fintech News For This Week

Top 8 Hong Kong & China Fintech News For This Week

by May 19, 2017
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Hong Kong and China Fintech scenes have been booming latterly. There are some big news from these two fintech communities this week, such as China Central Bank sets up fintech committee, Alibaba invests in its first fintech company in Hong Kong as well as UK regulator signs fintech co-operation deal with Hong Kong equivalent.

Below we have listed out the top 8 fintech news from Hong Kong and China for this week:

annual chinese fintech investmentsChinese regulator focuses on fintech

May 16, 2017

The Chinese fintech industry has gone from strength to strength as funding volumes boom and fintech giants proliferate, prompting the country’s main financial regulator, the People’s Bank of China (PBOC), to take a more formal interest in the sector this week.

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China-Fintech-Money-iPhoneAlibaba Invests In Its First Fintech Company In Hong Kong

May 16, 2017

As reported by Forbes today, Alibaba has invested in online invoice exchange marketplace Qupital, marking the Chinese e-commerce giant’s first foray into fintech investment in Hong Kong. Qupital raised a total of $2 million in its seed round.

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china-central-bankChina sets up fintech committee at central bank

May 15, 2017

China’s central bank has established a fintech committee to study the impact of financial technology on monetary policy, financial markets, stability, payment and clearing mechanisms. The People’s Bank of China (PBoC) made the announcement on its website on Monday.

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China fintech paymentConventional Chinese lenders yet to fully grasp the growing impact of fintech

May 12, 2017

Alibaba’s Ant Financial’s valuation is nearly on a par with Bank of Communications, the mainland’s fifth-largest lender, at US$60b. That financial technologies (fintech) can redraw the mainland’s banking landscape is old hat.

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UK FCAUK regulator signs fintech co-operation deal with Hong Kong equivalent

May 12, 2017

The Financial Conduct Authority (FCA), a U.K. regulatory body, has entered into a co-operation agreement with the Securities and Futures Commission (SFC), its equivalent in Hong Kong, in order to foster greater collaboration in support of global financial technology (fintech) innovation.

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Hong Kong Urged to Recognize Digital Currencies & Commit to Blockchain

May 11, 2017

An advisory body has urged the Hong Kong government to recognize digital currencies and invest in blockchain or distributed ledger technology (DLT) amid a wider FinTech-forward remit as it plays catch up to the likes of Singapore in the region.

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hong_kong_fintech_MatchiKPMG acquires Hong Kong fintech

May 11, 2017

Hong Kong fintech has been acquired by the professional services behemoth. 

Accounting giant KPMG has acquired Hong Kong-based fintech Matchi, signaling the growing importance of fintech to professional service firms.

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Hong-Kong-fintech-sceneHong Kong: visible difference

May 10, 2017

As a gateway to China and beyond, Hong Kong has all the ingredients necessary to be the global and regional fintech hub being an international financial centre recognised for having a free economy with a strong legacy of trade, and a large talent pool with an impressive work ethic.

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Featured image: Hong Kong Skyscrapers via Pixabay

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