China

How Tencent is Trying to Fill China’s US$805 B Insurance Gap Using Social Media

Over the past years, China’s Internet giant Tencent has been expanding its strategic positioning in the insurance industry. The Chinese firm’s latest move has been to lead Xiaobang Guihua’s RMB 200 million (US$28.4 million) Series B equity funding round in

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Alibaba and Tencent among The First To Receive China’s Cryptocurrency, Sources Say

Alibaba, Tencent, China Construction Bank, Bank of China, Industrial Bank of China, Agricultural Bank of China, and Union Pay is amongst the first organizations to receive and interact with China’s cryptocurrency, according to an unconfirmed report by Forbes. A separate

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A Look Behind the Technology Gameplan of China’s Insurtech Giant, ZhongAn

ZhongAn Online one of the leading insurtech companies in China, announced today its first six months interim results as of 30 June 2019. By harnessing the latest technologies, ZhongAn Online continues to integrate technology into every process in the insurance

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Banks in China Are Increasingly Partnering with BigTechs

2019 has been undeniably the year of Chinese commercial banks/tech companies collaborations. Incumbents have been actively pursuing partnerships with tech firms to drive fintech adoption as part of their digital strategies. Meanwhile, Chinese Internet giants have begun shifting their focus

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China’s New Cryptocurrency to be Tested in Shenzhen

China’s State Council and the Central Committee of the Communist Party of China have released a detailed plan for wide-ranging reforms to be implemented in Shenzhen. The new guideline, released last week, outlines Beijing’s plan to turn Shenzhen into “one

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How China’s Virtual Banks Are Offering Loans to Micro-Businesses Within Minutes

In China, online lenders are filling the credit gap, leveraging cutting edge technology including artificial intelligence (AI) to make lending decision in just a second. E-commerce giant Alibaba’s MyBank and Internet conglomerate Tencent’s WeBank, have dramatically changed the domestic financial

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One of China’s Largest Bank Is Now Using FICO’s Big Data Solution

China Construction Bank (CCB), one of the leading banks in China, announced that it has significantly lifted its approval rate and increased the automation rate in its credit card business using the FICO® Score X Data and FICO® Scorecard solutions

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Sequioa-Backed QFPay Raises US$20 Million to Fuel Its Global Expansion

QFPay, a China based digital payment technology company has received a new round of USD20 million funding. This funding round is joined by the likes Rakuten Capital, VentureSouq, MDI Ventures and existing investors like Sequoia Capital China and Matrix Partners.

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China is Issuing its Own Cryptocurrency Answer to Facebook’s Libra

The People’s Bank of China (PBoC) is close to issuing its own cryptocurrency, Shanghai Security News reports. This is in line with earlier public statements made by China stating that they are eyeing to release their cryptocurrency soon Better known

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Shenzhen Has Issued 6 Million Blockchain Invoices in a Year

Shenzhen has demonstrated its willingness to experiment with innovative technology when it issued its first digital invoice on the blockchain last year. Part of the Greater Bay Area, Shenzen has issued close to 6 million invoice according to a report

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