JPMNews2017-01-15 11:15fintech, lending, regulation,
On January 5, Guangdong Internet Financial Association did a public advocate at Guangzhou to promote administrations for internet financing industry and commerce in Guangdong Province. At the conference, the principal of GuangdongFinance Office highlighted the special rectification work, and showed that "at present, Guangdong is in a concentrated period of administrations.".
JPMNews2017-01-13 11:55banking, payment,
All through the year of 2016, domestic banks in China were confronted with a lack of quality assets, yet the investment banks in China were still buoyant in business activities. According to Dealogic, a third party data institution, last year, the total annual revenue of the banks reached a history high: $8.8 billion, increasing 26% on a year basis. China now is the second largest nation in terms of investment banking payment after America, with a global share hitting the record of 11.9%.
JPMNews2017-01-11 15:00RMB, trading,
Recently, the offshore renminbi and overnight interbank offer rate occurred dramatic fluctuation, and transactions of CNH were active. On January 5, Hong Kong Exchanges and Clearing Limited（HKEX）reported a record this day with 20338 trades in one day for Hong Kong renminbi futures, with nominal value over $ 2 billion, which broke more than a record with 8061 trades on August 12, 2015.
JPMNews2017-01-07 11:00JD Finance, unionpay, payment,
On January 1, China UnionPay signed a Strategic Partnership Agreement with JD Finance, and announced that JD Finance affiliate the payment company had been approved as a acquiring member of China UnionPay. Shi Wenchao and Hu Ying, the president and assistant president of China UnionPay, had taken part in the signing ceremony, with Liu Qiangdong, CEO of JD.com, and Chen Shengqiang, CEO of JD Finance.
Since the beginning of 2016, the industry of Crowdfunding in China has entered into fast development and by the end of November 2016, the number of platforms for Crowdfunding in normal operation has climbed to 430 in China, increasing 147 compared with that at the end of 2015.
ICBC announced today that by now, there have been 10 thousand intelligent service outlets in ICBC, accounting for more than 60% of all its outlets. Besides, over 90% of the business, including more than 200 current financial services for individuals, can now be processed through intelligent channels.
JPMNews2017-01-02 10:25car insurance,
From 28th December, the 40 car insurance companies in Beijing will no longer print or issue uniformed paper policies and paper marks of compulsory insurance for traffic accident of motor-driven vehicle in selling insurance. Instead, they will send texts to consumers, in which consumers may click the website link within or log in the official website of the insurer to search and download policies.
JPMNews2016-12-28 14:00big data, credit investigation,
The outbreak of networking events makes credit investigation the central focus. The media and many internet financing practitioners expressed their opinion about it and focused on discussing the abuse of it, which prompted questions and even critical attitude over the Chinese Big Data credit investigation.
JPMNews2016-12-12 11:05banking, robo advisor,
The industry of Robo-Advisor has been developed relatively slowly in China, due to the following four reasons: business license limitation, relatively few optional assets, low user acceptability as well as uncertainty of profit model. Since last year, quite a few Robo-Advisor products were launched in the market, but few sold well.
According to the report from foreign media, a senior management team from Ant Financial, a financial affiliate to Alibaba Group, recently visited Silicon Valley, in an effort to assess potential investment interest in the IPO of Ant Financial which is to be started as soon as next year.
JPMNews2016-12-07 10:35RMB, banking,
According to the report of HK local media, Xiao Qihong, treasurer of Wing Lung Bank, indicated that as the year comes to an end, demands for onshore funds are increasing and regulators also begin to tighten the liquidity, which leads to the constant increase of CNH interbank offered rate, as well as the CNY interbank offered rate.
JPMNews2016-12-06 13:55banking, insurance,
China Industrial Bank Co. is planning for the insurance license application.
JPMNews2016-12-03 11:05lending, creditease,
CreditEase China, one of the world's largest microcredit and wealth management firms, is raising a $50 million fund to invest in Israeli business and technology.
On Nov 13rd, South Korea's Financial Services Commission (FSC) passed the resolution that the Deposit Insurance Corporation would sell 29.7% shares of Woori Bank to the 7 private organizations including Korea Investment and Securities, Hanwha Life Insurance and TONG YANG LIFE. On completion of the deal, 4% shares of Woori Bank will be hold by Tong Yang LIFE, which is a subordinate of Anbang Insurance of China.
In this interview with Rory Holland on Credit Conference 2016, he explained us what is the business model of CSTMR and how it helps the fintech enterprises acquire customers. And as the CEO of CSTMR, he also expressed his insight and personal expectation for the industry.
For the first ten months, the accrued original premium income at China Life reached approximately 394.7 billion Yuan, while those received by CPIC property insurance, CPIC life insurance and NCI stood at 126.181 billion, 78.482 billion, and 102.15 billion Yuan respectively.
According to the 2016 Report on Global Family Offices jointly released by UBS and Campden Wealth Research, so far this year, the return yield on portfolio investment of family offices in Asia-Pacific area reached up to 3.9%, while it was zero in last year
Several major banks in China recently have adjusted the fees of cross-bank cash withdrawal with ATM debit card. People in China will no longer get a free charge on cash withdrawal and some of the banks even rise up the fees.
Recently the Hong Kong Monetary Authority (HKMA, function as the central bank of Hong Kong) co-released a white paper on Distributed ledger Technology with Hong Kong Applied Science and Technology Research Institute (ASTRI).
Merely ten minutes after the opening of 2016 Tmall Double 11 Global Gala (AKA China`s Singles Day), new world payment record was set.