Tag "Alibaba"

How is China’s Smallest Province Hainan Attracting Fintech Giants Like Tencent

Since president Xi Jinping announced a plan to gradually turn Hainan into a pilot free trade zone by 2020 and transform the location into a free trade port by the year 2025, Internet giants and fintech firms are flocking in.

Read More

How China is Quietly Shaping Asia’s Fintech

When one considers China’s influence on the rest of Asia, it is often seen as a benchmark; how China’s dramatic move into a cashless society has financially emboldened more of its populace, created more financial inclusivity for the underserved thus

Read More

Competition Heats up for Japan’s Mobile Payments Market

Mobile payments is rapidly becoming a dynamic market in Japan as the government pushes to increase cashless payments to 40% of transactions by 2025 from 20% in 2016. Japan is a highly cash-dependent society with cash in circulation amounting to

Read More

How China’s Fintech Giants are Tapping into a US$ 600 Billion Market

China’s tech giants Alibaba and Tencent are going after global remittances, a market that sees more than US$600 billion being moved around the world annually, according to the World Bank. The two firms recently launched cross-border money transfer services to

Read More

Their Business Faced Roadblocks, So Didi is Now Mirroring Alibaba’s Fintech Game Plan

The company that drove Uber out of China, Didi Chuxing, comes into the new year embroiled in controversy. About a month ago, Didi announced a major restructuring—the latest development in series of platform tweaks after it came out that the

Read More

China E-Commerce Industry Enters “New Retail” Era

The Chinese retail industry is entering a “new retail” era, characterized by the widespread use of technologies such as artificial intelligence (AI) and big data to digitalize the entire value chain, according to PwC. China is the world’s biggest consumer

Read More

Bank & FinTech Collaboration Models – How Big Banks Plan Fight the Big Tech Challenge

Sometime around the tail-end of 2010 the banks started realising that something called a FinTech could be a threat to their business. This is a time when some senior executives in the bigger banks were asking the digital leaders if

Read More

Jack Ma: Alibaba To Invest Over 100 Billion Yuan on Smart Logistics

Alibaba Group will invest over 100 billion yuan to build the technical backbone for a smart logistics network aimed at improving delivery reach and efficiency, as well as sharply driving down logistics costs, said Jack Ma, Executive Chairman of Alibaba

Read More

Fintech In China: What To Expect In 2018

Traditional financial centers such as London and New York are witnessing increasing pressure from Chinese cities such as Beijing and Shenzhen which are quickly becoming front runners in the fintech race. By many measures, China can already be considered the world leader

Read More

WeLab raises US$220 million in new strategic financing

WeLab, one of the fastest growing fintech companies in Greater China, announced last month that it has raised US$220 million of combined Series B+ equity and debt strategic financing and has won the backing of the Alibaba Hong Kong Entrepreneurs Fund,

Read More