To boost the economy and help small and medium enterprises get capital more easily, the Chinese government is encouraging non-government entities to invest in financial institutions, even allowing private companies to open their own banks. When the government announced its decision to grant five banking licenses for private banks earlier this year, the big three tech companies—Tencent, Alibaba and Baidu—jumped at the opportunity. Given the technological expertise of their backers, these online banks are able to leverage things like big data and cloud computing to assess credit worthiness and tailor the user experience. But can they outmaneuver traditional banks?
The China-led Asian Infrastructure Investment Bank is poised to reshape development in Asia, and international finance.
CKGSB’s Business Sentiment Index shows that China’s industrial economy hasn’t improved over the last quarter. Rather it has contracted slightly.
PBOC’s move to devaluing the RMB didn’t just follow weak exports data, but also IMF requirements for more market-driven exchange rates.
Is the yuan devaluation the start of a currency war, or a reflection of Beijing’s plan to give the market more power?
Early indications show that the Chinese government’s efforts to prop up the economy might be able to steer clear of the risks of the 2009 economic stimulus
In a short space of time Alibaba’s Ant Financial has created—and scaled—a diverse set of financial products and services: from online payments to cloud computing and data services.
The government has finally issued guidelines to regulate China’s internet finance industry, but the devil may lie in the yet-to-come details.
China’s economic growth model has created a serious overcapacity problem that will continue to derail future growth unless tackled now.
China’s stock market crash left a host of casualties in its wake—from a weakened renminbi to plummeting commodity prices.