China

livi Launches QR Payments Accepted at Over 29 Million Merchants in China

Hong Kong’s livi bank has launched its QR payment feature for the Mainland market, allowing its customers to make cross-border payments there as well as other popular travel destinations such as Japan, South Korea and Thailand. In mainland China, livi

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Jack Ma Steps Down From Ant Group: The Inside Story

Jack Ma, the billionaire founder of Alibaba Group, is giving up control of the fintech unit Ant Group after China cracked down on the tech giant. Ma, one of China’s wealthiest men, has agreed to give up his voting rights

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China’s E-Commerce: Resilient Amidst Economic Downturn

With a population of 1.4 billion, China has all the makings of a hotbed for e-commerce, a match made in heaven. According to Global Data, the most populous country has a compound annual growth rate of 13.3 percent between 2018 and 2021,

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Thunes Rolls Out Instant Payments for Weixin’s 1.3 Billion Users

Global cross-border payments network Thunes has partnered with Tencent Financial Technology, Tencent’s fintech arm, to allow members of its global network to send international payments to Weixin users. Weixin, with its international version known as WeChat, facilitates one of China’s

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China To Dominate The Insurtech Industry: New Report Shows

A new report estimated that China’s insurtech market would grow 36.88 percent CAGR between 2022 and 2031 to reach 34.05 trillion yuan (US$4.76 trillion). In 2021 alone, the market’s revenue was 1514 billion yuan (US$211.7 billion), according to Research Nester,

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Ant Insurance Launches China’s First Digital Operation Platform for Insurance Companies

Ant Group‘s online insurance agency platform Ant Insurance has launched digital operation platform Xingyun (translated as nebula) for insurance companies in China. According to Ant Insurance, the Xingyun platform is the first of its kind in the country. Powered by

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Top 7 Most Well-Funded Fintechs in Mainland China in 2022

China’s fintech sector has taken a big hit these past couple of years amid a broad crackdown on the tech sector that started in 2020. After largely giving tech companies free rein to grow, China has tightened its grip on

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OneConnect Listed on the Main Board of the Hong Kong Stock Exchange

OneConnect Financial Technology, a technology-as-a-service provider for financial institutions, announced that it has successfully listed, by way of introduction, its ordinary shares on the main board of the Stock Exchange of Hong Kong (SEHK). The shares are traded on the

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Wisecard Ties up With Zwipe to Offer Biometric Payment Cards

Wisecard Technology, a Chinese solution provider for smart card issuance and innovative payment platforms, has partnered with Zwipe to bring biometric payment cards to consumers in the Asia Pacific (APAC) region. Through this partnership, Wisecard will deliver pre-built personalisation scripts

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WeBank Launches Its New Brand “WeBank Blockchain” to Focus On ESG

WeBank, a digital-only bank in China, launched its new brand “WeBank Blockchain” which will be focused on building trusted ESG infrastructure to promote equity and sustainable development for its blockchain technology. To better promote ESG development, WeBank Blockchain will focus

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