Financial Institutions

Ping An’s Fintech Unit Turns Profit for First Time Amid Wealth Management Growth

Ping An’s Fintech Unit Turns Profit for First Time Amid Wealth Management Growth

The fintech unit of China's second-biggest insurance company, Ping An Insurance Co., has recorded a full-year profit for the first time driven by rapid growth in wealth management operations.

Mar 21, 2018
Liao Shumin
Hong Kong Securities Regulator Stops ICO in Latest Crackdown on Digital Currencies

Hong Kong Securities Regulator Stops ICO in Latest Crackdown on Digital Currencies

The securities regulator of China’s Hong Kong Special Administrative Region has intervened in an initial coin offering in the city,…

Mar 20, 2018
Xu Wei
AIIB Signs Its First Investment Project Contract in China

AIIB Signs Its First Investment Project Contract in China

The Asian Infrastructure Investment Bank (AIIB) signed the contract for its first investment project in China yesterday, per which…

Mar 20, 2018
Dou Shicong
China’s Life Insurance Premiums Saw First January Decline Since 2013 This Year

China’s Life Insurance Premiums Saw First January Decline Since 2013 This Year

Total premium incomes in China’s life insurance sector slumped 11.4 percent in January, continuing a downward trend from last year as original premium income declined.

Mar 14, 2018
Xu Wei
China to Merge Top Banking, Insurance Regulators Under Financial Sector Reform

China to Merge Top Banking, Insurance Regulators Under Financial Sector Reform

China plans to combine its top banking and insurance watchdogs as part of a major regulatory reform in the financial sector.

Mar 14, 2018
Tang Shihua
China Gives Green Light to First Government-Led Personal Credit Scoring Firm

China Gives Green Light to First Government-Led Personal Credit Scoring Firm

China’s central bank, the People’s Bank of China, has officially issued the first domestic personal credit scoring license to the…

Feb 28, 2018
Wang Ying
 UnionPay’s Overseas Mobile Payments Tripled Over Chinese New Year

UnionPay’s Overseas Mobile Payments Tripled Over Chinese New Year

The number of overseas transactions made via bank card provider China UnionPay Co.’s mobile payments system almost tripled on the…

Feb 27, 2018
Dou Shicong
Chinese Futures Pioneer Gets Approval for New Exchange in Singapore

Chinese Futures Pioneer Gets Approval for New Exchange in Singapore

The Asia Pacific Exchange, an international derivatives exchange led by one of China’s futures market gurus, has obtained approval from…

Feb 27, 2018
Dou Shicong
China Takes Control of Anbang Insurance to Curtail M&A Deals; Founder Faces Court

China Takes Control of Anbang Insurance to Curtail M&A Deals; Founder Faces Court

Chinese authorities have seized control of Anbang Insurance Group Co. in a rare move designed to curb the enthusiasm of…

Feb 23, 2018
Tang Shihua
HKEx May Appoint Financial Services Development Council Leader as Board Chairman

HKEx May Appoint Financial Services Development Council Leader as Board Chairman

Hong Kong Stock Exchange will appoint the Laura Cha, chairman of the special administrative region’s Financial Services Development Council, to…

Feb 14, 2018
Dou Shicong
Chinese Watchdogs Cap Insurers’ Onshore-Backed Overseas Financing

Chinese Watchdogs Cap Insurers’ Onshore-Backed Overseas Financing

Two Chinese regulators have paired up to limit insurance companies' onshore-backed offshore financing to ensure sustained and healthy development of…

Feb 13, 2018
Xu Wei
UnionPay Finds Foothold Overseas, Powers Ahead in Belt and Road Nations

UnionPay Finds Foothold Overseas, Powers Ahead in Belt and Road Nations

The international arm of Chinese financial services provider China UnionPay Co. issued 20 million new cards last year as the value of transactions rose almost 40 percent.

Feb 12, 2018
Xu Wei

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