Huawei is looking to globalize its operations in the financial services field, with a particular focus on Africa and the Asia-Pacific.
Luo Min, the founder and CEO of Qudian, a technology platform empowering the online consumer finance experience in China, said on July 18 that the company has begun to focus on ready-to-cook meals, and is winding down its financial credit business.
On Wednesday, Tianyancha revealed that a wholly-owned subsidiary by Ant Group was formerly established. The new subsidiary has been named Ant Suosuoshu (Hangzhou) Information Technology Co., Ltd.
According to an announcement released Thursday by automaker BYD, the company and its holding subsidiary BYD Precision Manufacturing plan to increase capital contributions to BYD Auto Finance.
Ant Group-backed e-payment solution MYbank recently announced that it would gradually stop asset transfers from Alipay to MYbank due to regulatory changes.
Three Chinese state associations issued a joint initiative on Wednesday for curbing the financialization and securitization of NFTs, and for preventing the risk of illegal financial activities.
Ant Group has announced the appointment of Jia Hang as its General Manager for Southeast Asia. The Group said this newly-established position will help strengthen its talent and capacity building in the region.
XTransfer, a Shanghai-based fintech startup established in 2017 by former Ant Group employees, is seeking to streamline Chinese cross-border e-commerce.
The pilot digital yuan project has covered more than 400,000 scenarios at the Olympics, with a transaction amount of 9.6 billion yuan ($1.509 billion).
On March 30, Fintech company JD Technology, a subsidiary of e-commerce giant JD.com, withdrew its IPO application to the Shanghai Stock Exchange.
On Feb. 5, China’s tech giant Alibaba Group Holding Limited (NYSE: BABA and HKEX: 9988) announced the pricing of an underwritten registered public offering of $5 billion senior unsecured notes, per Business Wire.
Last week saw two prominent Chinese VC funds – Future Capital and Qiming Venture Partners – raise new US dollar funds.
Ant Group is sending a signal to China’s traditional finance industry: with access to financial licenses, tech companies can bite.
China is set to expand its digital currency testing programs to more regions and cities, including some of the country’s most developed financial hubs.
On the evening of May 21, Reuters reported that Baidu was considering delisting from NASDAQ to boost its valuation. Baidu responded to The Economic Observer later claiming this was a false rumor.