China’s answer to PayPal has apologized after a new social media feature on its payments app was hijacked by promoters of soft pornography. Alibaba (BABA, Tech30) affiliate Ant Financial launched Circles on its Alipay app…
Tagged By finance
China's economic, financial progress applauded by IMF, WB officials
China has made great progress in economic growth and financial development, which reflects the government’s sound and effective management, officials with the International Monetary Fund (IMF) and World Bank have said. The officials paid a…
China central bank injects more funds into financial market
China’s central bank said Thursday it had put 739 billion yuan (107 billion U.S. dollars) into the financial market through medium-term lending facilities (MLF) last month. Total outstanding MLF loans to financial institutions stood at…
No Chinese financial crisis over next three years, says S&P Ratings
A growing number of commentators now fear China’s growing debt mountain has become a ticking time bomb. But they might be worrying overly, according to S&P Global Ratings, which thinks a financial crisis is unlikely…
Tradeshift launches joint ventures in China on supply chain digitalization
SAN FRANCISCO, Ca.–Tradeshift launched two new joint ventures in China to connect millions of trading partners, digitalize the transactions between them, and offer accessible trade-based financial services to SMBs in the region. The joint ventures…
China Emerges As The Biggest Advanced Fintech Market In The World
China is the world’s largest financial technology market, with a market size greater than US$1.8 trillion in 2015. In addition, it is a global leader in every aspect, including market structure and user habit. Out…
China's private-sector engine revs up, but will it keep firing?
TANGSHAN/GUIYANG, China (Reuters) – Toilet manufacturer Fenghua Ceramics Co is building a factory over farmland in north China’s Tangshan city, its first major investment since 2000. While it plans to boost annual production by 20…
China hikes tax on imported luxury cars
The Finance Ministry said it is aimed at encouraging “rational … might run afoul of Beijing’s World Trade Organization commitments to treat foreign and domestic goods equally. China has been the fastest-growing market for Rolls…
China manufacturing heats up in November, inflation pressure builds
BEIJING (Reuters) – Activity in China’s manufacturing sector grew more than expected in November, expanding at its strongest pace in more than two years, as the world’s second-largest economy picks up momentum heading into what…
Culture, creativity and finance join forces in Beijing
The fifth China Cultural and Financial Innovation Summit introduced the top 50 creative companies in Beijing worth investing in to prospective investors and banks. The fifth China Cultural and Financial Innovation Summit, held on Oct…
Chinese Police Is Cracking Down on Financial Crime
China‘s police body has set up five specialist units to deal with financial crime, including securities fraud, which is becoming increasingly professionalized, the official Xinhua news agency reported late on Tuesday. The new units, jointly…
China's banking regulator asks peer-to-peer lenders to register
BEIJING China’s banking regulator has issued new guidance to tighten control over a fast-expanding peer-to-peer (P2P) lending sector, the regulator said in a statement to Reuters on Tuesday. The guidance, which the China Banking Regulatory…
UPDATE 1-China's national pension fund appoints four custodian banks
BEIJING Nov 30 China’s National Council for Social Security Fund has selected four banks to be custodians for its basic pension insurance fund, it said in an online statement on Tuesday. The four banks are…