China
Ant Financial to Host Major Fintech Conference in Shanghai
Ant Financial best known for its payments platform Alipay, today announced the launch of the INCLUSION Fintech Conference, an event that aims to bring together the global financial and technology community, to envision the future of a world that’s more
Read More
Western Union to Enable Money Transfers to 150M Du Xiaoman Financial App Users in China
Western Union customers will now be able to have their money transfers to China accounts be paid out in real-time to majority of bank account holders — this is thanks to a partnership between Western Union, Du Xiaoman Financial and
Read More
WeChat’s Mini Programs Exceeded 800 Billion RMB Total Transaction Value
Tencent’s WeChat team today celebrated WeChat Mini Programs’ 3rd Anniversary by revealing that total transaction value generated on Mini Programs has exceeded 800 billion RMB in 2019, an increase of 160% year-on-year and a clear demonstration of the platform’s tremendous
Read More
Why China Leads the World in Blockchain Development and Adoption
Blockchain has become a national priority for China both in the public and private sector. This is further accelerated thanks in part to president Xi Jinping who recently proclaimed the technology as an important breakthrough. Efforts to launch a central
Read More
Ant Financial and US-Based Vanguard to Offer Investment Advisory for Retail Consumers
Vanguard, the $5.9 trillion U.S.-based asset manager, and Ant Financial Services Group, Alibaba’s fintech arm, announced a partnership to bring a new streamlined and broadly-available investment advisory service to retail consumers in China. Combining Alipay’s technology and Vanguard’s expertise in
Read More
The Greater Bay Area is Home to 43 Unicorns Valued at a Combined US$1.1 Trillion
The Guangdong-Hong Kong-Macau Greater Bay Area (GBA) is home to 43 unicorns valued at a combined US$1.1 trillion. These unicorn focus on five key industries: e-commerce, healthtech, robotics, fintech and biotech, according to a new whitepaper by WHub, Hong Kong’s
Read More
China’s P2P Lending Sector Is Coming to an End
Every peer-to-peer (P2P) lending platforms in China must become small loan providers within two years, according to an official notice issued by China’s Internet Financial Risk Special Rectification Work Leadership Team Office. It also states that all outstanding loans must
Read More
Tourist in China Can Finally Use Alipay, Here’s How
China’s leading mobile payments platform Alipay announced that its services are now finally available to international travelers in China. Tourists visiting China will now be able to download and use the app during the trip giving them access to Alipay’s
Read More
Banks in China Risk Losing US$60 Billion in Payments Revenue to Fintechs by 2025
As much as 13% of banks’ payments revenue in China, or US$61 billion, is likely to be displaced by the growth of digital payments and competition from non-banks, as payments become more instant, invisible and free, according to a new
Read More
President Xi Jinping Fuels China’s Renewed Appetite For Blockchain
China’s appetite for blockchain has surged after Chinese president Xi Jinping proclaimed the technology as an “important breakthrough” and said “greater effort should be made to strengthen basic research and boost innovation capacity.” The Communications Industry Association, an affiliate of
Read More