PBoC’s 2013 annual report shows that foreign banks in China showed steady growth and even outpaced GDP growth in terms of new deposits, but still lag their domestic competitiors.
The latest 2014 China Online Lending Industry Report reveals that China's P2P lending platform industry has grown rapidly both in terms of number of providers and turnover.
According to Wangdaizhijia, a resouce on the P2P industry in China, there are 148 P2P platforms in total closing, already closed or facing difficulties in redemptions.
On March 1st, 2014, Shanghai FTZ has removed the cap for foreign currency deposit rates, which apply to small accounts with less than USD3 million. After the three-month pilot, the market seems to be running steadily and enterprises in the Shanghai FTZ now can ask for higher rates for their forex deposits with the banks.
Shortly after Jumei Youpin, JD.com listed in US, Zhaopin, an online recruitment platform, listed on the NYSE on June 12th, 2014.
With the increasing usage of mobile devices such as smartphones and tablet PCs, mobile internet is becoming a new traffic entry point for many internet players. Alibaba's free wifi deployment will facilitate their entry point.
On June 11 2014, MSCI Inc. indicated that China’s A-shares will not be included in MSCI’s global index, meanwhile, South Korea and Taiwan will not be considered to upgrade to developed market status.
In the 2013 annual report issued by the Peoples Bank of China (PBOC), the organization addressed the issues related to the Internet finance. What is the forward looking Internet finance strategy?
Since the IPO hiatus last year many qualified mainland companies have been waiting for new capital. With banks traditionally more supportive of SOEs and PE not being able to invest since much of their capital have been locked already, many well-managed, fast-growing companies were starving of capital.
The 2014 year seems to be a year for banks to pad their capital base. Previous heated discussion was around Tier 1 capital sufficiency, after which additional capital has been supplemented via issuing preference shares by SPDB, Bank of China and Agricultural Bank of China.
State Council is China’s main governing body and its opinions provide guidance for the financial industry and allow to peek into what the government has in mind for the markets in the coming years.
After setting up its strategy as “All in Mobile E-Commerce” at the beginning of this year, Alibaba has been gradually building up its Online2Offline business - now focusing on healthcare.
The latest payment report released by PBOC shows that by the end of 2014Q1, the cumulative number of bank cards issued reached 4.39 billion. Debit cards are still the most widely used card type, accounting for approximately at 3.97 billion.
The latest payment report released by PBOC shows that in 2014Q1, electronic payments kept a steady growth with the most eye-catching performance being from mobile payments.
People prefer to keep their information in a safe place, so do nations. After the PRISM scandal information security issues has become a concern for many countries.