From ubiquitous mobile payments and online insurance to carbon neutrality and rural revitalisation, China’s 2022-2025 Fintech Development Plan has some very lofty ambitions. Qian Zhou from China Briefing reviews the main contents of the new fintech plan The People’s Bank of China (PBOC) recently released its Fintech Development Plan for 2022-2025, which seeks to further develop China’s fintech sector and drive the digital transformation of finance in the country over… …
fintech
China’s battle against decentralised cryptocurrency came to a head this year when the country’s State Council released new regulations banning the mining of Bitcoin while also banning any crypto transactions, writes Bryan Grogan The impact was immediate, with prominent cryptocurrency wallets announcing that they would stop providing services in China. Among those were Binance and Huobi, two of the biggest cryptocurrency exchanges in the world, who initially stopped registrations of new… …
- FinanceTechnology
Sara Hsu explains the benefits of China’s fintech explosion
by Paul Frenchby Paul FrenchPaul French caught up with Sara Hsu to find out where the Chinese fintech revolution is heading Anyone who has spent five minutes in China recently knows that financial technology – or fintech – is massive. WeChat Wallets, Alipay, and a few dozen other systems are making financial services more efficient and accessible, and cash increasingly redundant. In ‘China’s Fintech Explosion’ (Columbia University Press), Sara Hsu and Jianjun Li argue… …
China and the UK enjoy a mutually beneficial trade relationship, and although China serves a large receipt for UK exports, there are ongoing challenges relating to market access for UK business in China. But is conducting business in China getting more challenging asks Alexandra Kimmons? Approaching the China market can be overwhelming, especially for small businesses. It is necessary to weigh the costs and benefits of trading in a new… …
Financial services are digitally transforming the way Chinese citizens use their money at home and abroad. As regulations continue to open up to the rest of the world, key services and technologies have emerged that present unique opportunities. From cloud infrastructure to mobile platforms British companies are adapting to China’s growing fintech ecosystem, writes Susanne Chishti, CEO of FINTECH Circle Blockchain Chinese leader Xi Jinping announced last month that blockchain was… …
Valur Blomsterberg of accountancy Integra Group explains the various ways of repatriating profits from China in the most efficient and economical way China has long maintained strict foreign exchange controls over funds entering and leaving the country, which means that foreign investors face a series of compliance challenges before they can move funds out of the country. With the current pace of regulatory changes and with banks adopting various anti-money… …
Cross border transactions are complex anywhere but Callum Wade from Fintech company Ebury has the answers What are Ebury’s core service? We are a Financial Technology (Fintech) company, specialising in cross border transactions and business lending. Our success in cross border transactions is due to the fact we provide a service to SMEs that big banks usually only reserve for their largest clients. We offer foreign exchange and risk mitigation… …
Kaitlin Zhang explains how UK technology firms can reach out to Chinese investors In the first half of 2018, Chinese outbound foreign direct investment (OFDI) has dramatically veered towards Europe over North America. The value of completed Chinese investments was six times higher in Europe (£9.3 billion total with £1.25 billion in the UK) than in North America (£1.55 billion), according to Baker McKenzie and Rhodium Group. This trend… …
Sherry Mandera, the City of London’s Special Adviser for Asia explains how the booming FinTech sector will help innovative British businesses boom What do you think are the most significant developments and main opportunities in China’s FinTech industry? China’s FinTech innovation and success is certainly something we can learn from in the UK. I lived in Beijing for almost three years, and I have to admit after returning to the… …
Blockchain is being touted as the future of the internet and China is leading the way, writes Tom Pattinson Hands up who has heard of the term blockchain? Not many of you? Well it is about time that you did. Some argue that blockchain is a form of technology that is going to revolutionise the internet and be a core component of how transactions take place in the future. It …