Displaying items by tag: china

The new version of the popular Chinese payment app Alipay now supports Apple’s fingerprint touch sensor for account access and payment authorisation instead of a password.

Conventional wisdom and the written history of capital markets would have it that the value of a particular stock is based on the potential of future returns in the form of dividends and the underlying book value of the company. Not ones to stick with tradition, China’s mainland investors have often defied this basic tenant of reason and developed their own ideas about what the price of any particular stock should be.

The recent annoucement of the tie-up between GlobalCollect and China UnionPay tie-up could be a game changer for China UnionPay's international business.

The PBOC has announced it will be introducing a deposit insurance system in China, which will have a profound impact on banks’  behaviour.  Liberalizing the banking sector may put it on a more sustainable path but short-term risks should not be ignored.

After years of bearish sentiments among Chinese investors, the Shanghai Composite Index seems to be picking up again and rises to highest level since August 2011.

This is part one of a two part series concerning China Unionpay's launch of Android Pay. Today we take a look at Android Pay's potential impact on the mobile payments industry. Part two will look at China Unionpay's business strategy within the mobile payments space as it launches an Android based mobile wallet.

Alibaba's not so subtle move into China's financial services industry took another step forward today with an additional investment into financial data and software provider Hundsun.

99Bill, a Chinese payments company, was just acquired by Baidu for RMB 2 billion. While there was no official confirmation from Baidu yet, the rumors started appearing on November 18. As the deal comes through, it will be yet another instance of a tech company moving into online finance. Alibaba through Alipay and Tencent through Tenpay already have payments licenses and operate successfully in the industry. Only Baidu was the last company of the three technology titans without a considerable traction in online finance. Its Baidu Wallet is still in promotion phase and is yet to gain a user base comparable to that of Alipay or Tenpay wallets.

The PBOC has issued implementation rules for RMB cash pooling in China, which will facilitate cross-border RMB sweeping for multinationals, previously restricted to the Shanghai Free Trade Zone (FTZ).

According to new data released by China Securities Depository and Clearing (CSDC), Chinese investors have opened 243,073 new A-share accounts in the period between November 10th and November 14th.