QR code payment in China, suspended by PBOC on March 14th, 2014, have just been restarted by the Postal Savings Bank of China.
On July 22nd, 2014, Alibaba teamed up with seven banks including ICBC, CCB, CMB, Ping An Bank, Postal Savings Bank of China, Bank of Shanghai and Industrial Bank to roll out new internet business loan service.
China has been going through rapid urbanization during last decades and in the past ten years alone the percentage of population residing in cities has leapt from 40.5% in 2003 to 53.75% in 2013.
The “Notice on Government-set Prices and Government-Guided Prices for Commercial Banking Services”, published by National Development and Reform Commission (NDRC) and China Banking Regulatory Commission (CBRC), is effective on August 1st, 2014.
China is beginning to open its financial sector with the approval of three privately owned banks, extending the wave of financial reforms aimed at boosting China's changing economy.
At the start of this month, leading global supplier of information and communications technology (ICT) Huawei had joined the board of Europe’s 5G Infrastructure Association.
The recent news story about Bank of China allegedly assisting with illegal money transfer ended well for the bank and turned out to be a case of journalists not doing enough research...
Seven months after the PBOC's crackdown on bitcoin exchanges in China and we're seeing a resurgence in talk about what Chinese bitcoin exchanges are doing and where they are going. While accusations of falsifying trading data and questions about bitcoin's future in China still abound, China's bitcoin exchanges want to move on and forget the past, but are they going in the right direction?
Despite the regulators’ effort in boosting investor’s confidence in post-hiatus IPOs, growth in Chinese stock market growth in trading volume is still sluggish.
Kapronasia's ATMs in China 2014 webinar and slides are now available in the webinar section of the website or by clicking here.
Currently there are 637 companies on the IPO list in China and their prospectuses, published by the China Securities Regulatory Commission, reveal business intelligence, previously not available for public.
According to PBoC 2013 Annual Report, the payments industry in China is growing fast, 17% in 2013 alone and 25% on average in the last five years.
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.
We are pleased to announce the release of Zennon Kapron's book on the Past, Present and Future of Bitcoin in China. "Chomping at the Bitcoin" will be released on the 25th of August.
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.
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?
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.
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 latest SWIFT RMB tracker report, usage of RMB in cross-border payments involving HK and China increased 36% to 12%, but still has ways to go.
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.
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.
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 RMB continued its relentless march towards being a trade currency with over US$15 billion in RMB bond issuance in the city-state of Singapore - more than doubling the issuance of 10 years ago.
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.
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.
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.
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.