China

Chinese Payments Firm Fuiou Pay Ties up With Visa Cross-Border Solutions

Shanghai-based global payment company Fuiou Pay has partnered with Visa Cross-Border Solutions to provide its China-based SME exporter clients with a comprehensive, secure cross-border funds collection and settlement solution. The Visa Cross-Border Solutions (VXBS) combines the best of Visa’s homegrown

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Citi Inks Deal to Sell Consumer Wealth Business in China to HSBC

Citi announced that it has agreed to sell its onshore consumer wealth portfolio in China to HSBC Bank. The transaction includes clients, assets under management (AUM) and deposits totaling approximately US$3.6 billion. The deal is expected to close in the

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Leading Chinese Social Media Platform Removes Accounts of 80 High-Profile Crypto Influencers

Weibo, one of the China’s biggest social media platforms, has removed the accounts of 80 popular influencers promoting cryptocurrencies, citing breach of local laws put in place to curb speculative trading and the promotion of cryptocurrencies, the South China Morning

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Nuvei Expands Presence in Asia Pacific with New China Hub

Nuvei, the Canadian fintech company, has established a new operational hub in China, reinforcing its presence in the Asia-Pacific (APAC). Philip Fayer, Nuvei Chair and CEO commented, “We’re excited to announce our new office in China as we continue expanding

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Ant Group CEO Eric Jing Says Digital Yuan Could Bring ‘Huge Synergy Effects’

Fintech giant Ant Group‘s Chairman and CEO has Eric Jing has come forward to express his support for e-CNY, China’s central bank digital currency (CBDC). The People’s Bank of China (PBoC) had begun the pilot trials of e-CNY in 2019

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6 Young, Fast-Growing Fintech Startups from Mainland China to Watch

Mainland China has emerged as a hub of innovation and rapid growth in the fintech sector, with several firms such as the Ant Group, WeBank and Lufax leading the way in transforming the financial landscape. These companies have captured attention

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Thunes Opens Beijing Office as Part of US$14M Investment to Build China Presence

Thunes, the global B2B payment infrastructure platform, has opened a new office in Beijing which will become the headquarters for its Greater China activity. The firm has invested CNY100 million (approximately US$14 million) to establish Thunes China, which will serve

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Alibaba Cloud Unveil New Ecosystem Development Initiatives and Partnerships

Alibaba Cloud, the cloud division of the Chinese e-commerce giant, is launching several initiatives to support its ecosystem partners, including the Independent Software Vendor (ISV) Acceleration Program, training programs, and new incentives. Through these initiatives, the firm aims to increase

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WeChat Broaden Digital Yuan Acceptance, Accelerating CBDC Adoption

China-based messenger app WeChat has announced that it has expanded digital yuan payments to its short video and mini-app platforms. This update is an extension of the e-CNY payments option that WeChat has already supported since early 2022. The move

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Blockchain Enters New Stage of Development in China, New Report Shows

China, a world leader in blockchain, is entering the next stage of the industry’s development with blockchain being now increasingly integrated with other emerging technologies, including artificial intelligence (AI), big data and the Internet of Things (IoT), a new report

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