360 Finance
Leading digital consumer finance platform, member of the 360 Group, one of the largest Internet companies in China. They provide credit loan, insurance, wealth management and e-commerce services.
geo/china
Leading digital consumer finance platform, member of the 360 Group, one of the largest Internet companies in China. They provide credit loan, insurance, wealth management and e-commerce services.
How China’s City Commercial Banks Finance SMEs during the Coronavirus Epidemic
A key pillar in China’s commercial banking system (1), city commercial banks (CCBs) have been a major force in supporting small and medium enterprises (SMEs). While CCBs accounted for only 13.1% of the entire banking system in terms of total assets, 18.7% of all SME loans are disbursed by CCBs. In 2018, the total outstanding loan balance from CCBs reached 6.3 trillion yuan ($910 million USD). SME loans made up 42.1% of all loans disbursed by CCBs in that year.
WeBank became China's first digital bank in December 2014 upon receiving its banking license. It offers underbanked individuals and SMEs a variety of convenient and high-quality financial services.
Chinese fintech company issued a national micro-lending license in 2016. SimpleCredit is committed to serving consumers and helping SMEs as well as investing in technological research and development.
Youxin Financial provides personal financial services to customers around the world. The company is committed to using financial technology to provide innovative and financing solutions for micro and small businesses across China and contribute to the development of the real economy.
In this publication, Youxin Financial shares an analysis of their customer profile and data and AI-driven customer service technology model to solve micro and small businesses' financing challenges.
China’s central bank will issue a three-year development plan for the country’s financial technology (fintech) sector, in a move to support the fast-growing industry while fending off risks.
News via Reuters.
Ridesharing giant DiDi Chuxing will expand its presence in the Chinese financial and fintech sectors with the launch of its own private bank in the northern Chinese city of Tianjin, according to a report from Xinliu Caijing.
The «eXellerator» innovation lab in China alongside others in Singapore, Hong Kong, London, Kenya, and San Francisco are part of the bank’s SC Ventures unit, a research and development arm focused on innovation and fintech. «With the launch of the eXellerator, Standard Chartered aims to deepen its contribution and participation in China’s vibrant technology and innovation ecosystem,» the bank said, highlighting various tech competencies including artificial intelligence, biometrics and mobile payments that could improve its client products and experiences.
News via Finnews Asia.
Financial services giant Standard Chartered has successfully completed its first blockchain-based deep-tier supply chain financing transaction with China-based supply finance firm Linklogis. The financing was intended for upstream suppliers of Digital Guangdong, according to a press release.
Hong Kong’s first virtual banks are not expected to be operational for at least another month, but banking customers in the city are already reaping the benefits. For the first time in about two decades, eight of the special administrative region’s largest banks will no longer charge fees for failure to maintain a minimum monthly balance.