Over the weekend China’s central bank stated that they will be gradually introducing a system of rules in order to...
National Internet Finance Association (NIFA) of China on August 30 released ICOs risk alerts; the Association highlights two kinds of risks: 1) some projects raise money in the name of ICO with misguided publicity and this may lead to illegal fundraising; 2) the assets of some ICO projects remain unclear and the information disclosure is far from sufficient. Source (Chinese)
The fund, which was set up as storage for excess cash from online spending, has now reached $165.6 billion in assets under management; this now exceeds the amount of JP Morgan's largest money market fund which is $150 billion; since the fund is so big it allows Ant Financial, Alibaba affiliate, to negotiate better rates with banks for capital; while many believe the likes of Google and Facebook could enter the market they have yet to do so. Source
A couple of weeks ago we published a podcast with the CEO of ZhongAn Insurance, Jeffrey Chen. I want to...
In an interview at the World Economic Forum in Davos, Ant Financial's CEO Eric Jing talked about his plans for growth in payments and blockchain; firm is targeting two billion users by 2027; says it will more deeply integrate blockchain and artificial intelligence. Source
Early data coming out of China shows an increase of loans that are past due; According to Bloomberg, overdue credit-card...
Fintech is helping to increase consumer spending in China as lenders provide increased access to capital; these lenders are becoming more integrated with merchants and providing point of sale credit options; Dumaio is one example of a fintech lender that has been successful by adapting to market demand; real estate fintech platforms are also emerging in the country with Shenzhen-based Touchouwang offering domestic real estate investment opportunities and Beijing-based Uoolu offering foreign real estate investments. Source
The Hong Kong Stock Exchange (HKEX) is planning to launch a blockchain-powered private market to help smaller firms obtain financing; it would play out through a separate venture dubbed HKEX Private Market, says Charles Li, HKEX chief executive; Li has been tracking blockchain technology to upscale the operation of HKEX. Source
China and Hong Kong have raised $3.03 billion in proptech since 2013; this is approximately 41% of the total investment in proptech across the globe; the startups are focused on brokerage and leasing, investment and financing, project development and property management; half of the startups are in brokerage and leasing; article shares what has led to the current robust proptech market in Asia Pacific. Source