Articles with tag: bank of china

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Major Chinese cities announce testing of Central Bank Digital Currency

21 Aug 2020 | Cryptocurrencies

Chinese Central Bank Digital Currency (CBDC) will soon be tested in ‘Guangdong-Hong Kong-Macao Greater Bay Area, Beijing-Tianjin-Hebei region, and Yangtze River Delta region’ according to China’s Ministry of Commerce.

Central Bank Digital Currency, CBDC, China, digital yuan, Bank of China, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, digital wallet app, accounts, money, payments, money transfer

Dubai International Financial Centre partners with a Chinese fintech platform

27 Jul 2020 | E-invoicing, SCF & E-procurement

Dubai International Financial Centre (DIFC) has signed a MoU with Jiaozi Fintech Dreamworks, a China-based fintech innovation and entrepreneurship platform.

DIFC, fintech, China, Dubai International Financial Centre, Dubai, MoU, Jiaozi Fintech Dreamworks, China, innovation, entrepreneurship, Middle East, Africa, South Asia, MEASA, UAE, Belt and Road, partnership, People’s Bank of China, banks

China develops a program to keep large transactions in check

08 Jul 2020 | Digital Identity, Security & Online Fraud

China has imposed a program to keep large transactions in check amid concerns over the state of its financial in the wake of the COVID-19 outbreak.

China, transactions, banks, coronavirus, COVID-19, People’s Bank of China, Hebei, Zhejiang, Shenzhen, lenders

American Express scores licence to clear transactions in China

16 Jun 2020 | Mobile Payments

American Express has announced that its joint-venture in mainland China has received approval from the People’s Bank of China (PBOC) for a network clearing license.

American Express, China, People's Bank of China, PBoC, payments, payments reconciliation, payments settlement, Asia, APAC

The People's Bank of China adds funds to banking system to avoid shortage

15 Jun 2020 | E-invoicing, SCF & E-procurement

China has offered medium-term loans to banks, in the government’s effort to avoid a funding crunch in June 2020.

China, banking, loans, banks, The People’s Bank of China

ICBC to provide banking services in New Zealand

19 May 2020 | E-invoicing, SCF & E-procurement

The Industrial and Commercial Bank of China Limited (ICBC) has registered to provide banking services in New Zealand.

Industrial and Commercial Bank of China, ICBC, New Zealand, banks, banking, Reserve Bank

China's central bank advised to avoid risky bond buying as economy improves

19 May 2020 | Payments General

The People’s Bank of China should avoid buying special treasury bonds as such a move could fuel inflation risks and asset bubbles and lead to depreciation of the yuan currency.

People’s Bank of China, bonds, pandemics, banking, finance, China, central bank

The People's Bank of China expands fintech regulations to six new cities

29 Apr 2020 | E-invoicing, SCF & E-procurement

The People’s Bank of China (PBoC) has announced that it is expanding its financial technology regulations to six new cities. 

China, banks, fintech, People’s Bank of China, financial technology, finance, innovation, information

Agricultural Bank of China to trial interface for PBoC's central bank digital currency

16 Apr 2020 | Cryptocurrencies

The Agricultural Bank of China (ABC), a large state-owned bank, has started testing an interface for the country’s central bank digital currency (CBDC).

Ant Financial, Tencent, mobile app, DC/EP, Agricultural Bank of China, PBoC, central bank digital currency, China

Ant Financial and ICBC deepen strategic collaboration

31 Mar 2020 | Online Payments

Ant Financial and Industrial and Commercial Bank of China have announced a collaboration as part of a strategic partnership unveiled in December 2019.

Ant Financial, Industrial and Commercial Bank of China, ICBC, China, Asia, APAC, online payments, financial technology, Alipay, payment collection, QR payments, merchants

People's Bank of China rejoins global monetary easing wave

30 Mar 2020 | Payments General

The People’s Bank of China (PBOC) has slushed the interest rate it charges on loans to banks by the biggest amount since 2015, according to CPI Financial.

People’s Bank of China, PBOC, banks, loans, China, coronavirus,

ZA bank, a Hong Kong-based online-only bank, starts operating

24 Mar 2020 | Online & Mobile Banking

ZA bank, a Hong Kong-based online-only bank, has begun operating. 

Hong Kong, online banks, banking licences, Ant Financial, Standard Chartered, Tencent, HSBC, Bank of China, virtual banking,

The digital yuan takes a great leap forward, China's Central Bank says

13 Jan 2020 | Cryptocurrencies

According to the People’s Bank of China, the nation’s central bank, the development of a digital yuan (DECP) is making progress.

People’s Bank of China, cryptocurrency, digital currency, digital yuan, China, payments

China's central bank digital currency to focus on retail payments first

27 Nov 2019 | Cryptocurrencies

Former head of the People’s Bank of China has said that the main aim of China’s central bank digital currency (CBDC) is to facilitate retail payments.

People’s Bank of China, central bank digital currency, retail payments, digital currency, bank, payments, China

Postal Savings Bank of China, Ant Financial to enable fintech innovation in the country

27 Nov 2019 | Payments General

Postal Savings Bank of China, the state bank with the largest branch network, has signed a strategic cooperation agreement with fintech tech company Ant Financial.

Postal Savings Bank of China, Ant Financial, fintech, partnership, banking, payments, China, lending, innovation

vCargo Cloud launches trade finance portal on the Networked Trade Platform

13 Nov 2019 | E-invoicing, SCF & E-procurement

Singapore-based trade facilitation platform provider vCargo Cloud has announced that it launched CamelONE Trade Finance on the Networked Trade Platform.

vCargo Cloud, CamelONE Trade Finance, United Overseas Bank, ANZ, BNP Paribas, DBS Bank, HSBC, Industrial and Commercial Bank of China, MUFG Bank, Oversea-Chinese Banking Corporation, Standard Chartered Bank, Monetary Authority of Singapore, Singapore, Asia, APAC

Tencent builds virtual bank after receiving Hong Kong license

12 Nov 2019 | Online & Mobile Banking

Tencent has announced opening a blockchain-based virtual bank after the Hong Kong Securities and Futures Commission approved a new license.

Tencent, Hong Kong, blockchain, Hong Kong Securities and Futures Commission, Commerce Bank of China, ICBC, SFC, virtual bank, digital bank, online banking, banking license,

PayPal enters digital payments market in China with GoPay acquisition

01 Oct 2019 | Online Payments

The state-owned People’s Bank of China (PBOC) has greenlighted PayPal’s acquisition of a majority stake in local company GoPay.

PayPal, Peoples Bank of China, PBOC, acquisition, GoPay, digital payments, China

Binance research: Chinas digital currency could be two-tiered, replacing cash in circulation

30 Aug 2019 | Cryptocurrencies

Cryptocurrency exchange Binance has released a research that reveals China’s digital currency will most likely be a two-tiered system replacing notes and coins in circulation.

Binance, banks, cryptocurrency exchange, digital currency, retail banks, China, Peoples Bank of China, PBOC

China to issue cryptocurrency to Alibaba, Tencent, and others

28 Aug 2019 | Cryptocurrencies

China’s central bank has announced it will launch a state-backed cryptocurrency and issue it to seven institutions in the coming months.

Alibaba, Tencent, China, government, cryptocurrency, banks, digital assets, fiat currency, central bank, blockchain, debit, credit, the Industrial and Commercial Bank of China, the Bank of China, the Agricultural Bank of China