Tag "china"
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
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4 Reasons Why China’s Central Bank is Launching a Digital Currency
Blockchain and cryptocurrencies have been all the rage these past years. Now even central banks are looking to launch their own digital currency. So-called central bank digital currencies (CBDCs) differ from traditionally digital currencies like bitcoin and ether in the
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China Lays Out 6 Key Fintech Focus for the Next 3 Years
The People’s Bank of China (PBOC), the country’s central bank, has released a three-year fintech development plan that aims to improve the quality of financial services, strengthen regulation on technology-driven innovations, and prevent financial risks. China wants to make its
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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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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 Will Driverless Cars of The Future Be Insured?
Self-driving cars have been touted that as the future of transportation by many, including the likes of Elon Musk who claimed that Tesla will roll out “truly self-driving cars” by 2020, which in case you have noticed, is only a
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Soon You Might Not Need An Internet Connection to Make Payments Using WeChat
In July, Tencent’s super-app WeChat ran a trial that enabled passengers of two Spring Airlines flights between Shanghai and Chengdu to make offline payments while flying, reports Abacus. Passengers could sign up for the trial service, called WeChat on the
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Once Notorious for Copying, China’s Tech Giants Are Now Being Copied by the West
As China emerges as a tech powerhouse, successful concepts from Chinese tech giants are being studied and replicated by Asian and Western counterparts, according to a new report by South China Morning and its tech-focused news site Abacus. In the
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When It Comes to Payments, Its Risky to Use Your Face
In China, platforms and services like Alibaba’s Alipay and Tencent’s WeChat Pay have brought facial recognition payments to online and brick-and-mortar retail stores. But as biometrics and facial recognition technologies become mainstream, experts and regulators are concerned about the privacy
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