China

A to Z

China

Asia/Pac News Roundup Online Lending Regulation

·Nov. 28, 2016

Regulators Recover $1.5bn in Assets from Ezubao Investigation

An investigation regarding fraudulent fundraising from Chinese peer-to-peer lender, Ezubao, has been underway since February 2016; regulators have reported all of the fundraising projects on the site were fraudulent and that the firm collected $7.6 billion from approximately 900,000 investors; Chinese regulators have recovered $1.5 billion in assets which include real estate, jewelry, stocks, cars and helicopters bought for company executives of the parent company Yucheng Group. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Apr. 17, 2017

Renren has Decreased Its Position in SoFi

Renren is a publicly traded company that operates a social networking platform and also has an investment unit that invests in private US fintech companies; Lend Academy previously wrote about Renren and their private market fintech holdings in January; Renren was one of SoFi's first investors reporting 21% ownership in the company at the end of 2015; it’s now been reported that Renren has sold a portion of its share in the company, in association with a SoFi fundraising, receiving net proceeds of $91.9 million. Source

Read Full Story

Peer to Peer Lending

·Jun. 1, 2017

Research on Financial Inclusion and Poverty Reduction in China

[Editor’s Note: This is a post from Sherry Zhang who is the latest member of the Lend Academy and LendIt...

Read Full Story

Asia/Pac Fintech News Roundup

·Dec. 12, 2016

Robo Advisors Taking Hold in China

Investors in China are increasingly looking for an unbiased, lower cost option for managing their wealth; robo advisors are beginning to fill that void; the new firms are helping the non ultra rich access markets and helping the wealthy allocate their money without fear of a broker who is thinking of the corporate firm; though the data on robo advisors in China is currently thin, China Merchants Securities Co. believes that assets managed by robo advisors will reach over $750 billion by 2020. Source

Read Full Story

Regulation

·Sep. 16, 2021

Senate banking hearing grills Gensler on SEC regs, crypto, retail investing, and more

Gensler said his biggest worry about the equity market was competition and consolidation. While retail investing has taken off, the PFOF that enables it is ripe for conflict of interest.

Read Full Story

Asia/Pac Fintech News Roundup

·Aug. 4, 2017

Renault Launches a Blockchain POC Project

VeChain, Viseo and Microsoft have launched a blockchain proof of concept project for the French car maker Renault; the idea is that blockchain can be used to keep record of how a car is maintained and that information from various car service providers can build a trustworthy growth history of a car; auto giants like Mercedes-Benz, Toyota and Porsche have tried blockchain projects before as well. Source (Chinese)

Read Full Story

Asia/Pac Fintech News Roundup Online Lending

·Mar. 24, 2017

Report on China’s Internet Finance Market

Released at the Boao Forum for Asia this week, "The Report on Internet Finance 2017" details China's internet finance market, including its experience in mobile payments and online lending; discusses the opportunity for growth through e-commerce in Asia, specifically through the Belt and Road Initiative; highlights how mobile payments, peer-to-peer lending, online insurance and other internet finance businesses are evolving within the country's economy. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Jan. 31, 2017

Robo Advisers Seeking to Stabilize Volatile Chinese Retail Investing

Asset allocation is an emerging concept increasingly being introduced to Chinese retail investors who have historically invested in highly volatile markets; CreditEase is one fintech company in the region seeking to educate and support more strategic investing through robo advisory services; the fintech company launched its Toumi robo adviser service in May 2016; the automated service provides advice for clients based on age, risk aversion and other preferences; it offers stable returns with low fees; with numerous cases of fraud from fintech investing in China more of the retail population is interested in safer robo advisory investment options; the country currently has approximately RMB 100 trillion ($14.5 trillion) in personal investable assets with nearly all the major banks developing new robo adviser services. Source

Read Full Story

News Roundup Online Lending USA

·Mar. 10, 2017

Ron Suber Talks with the Chinese Media

Ron Suber from Prosper Marketplace talks with the Chinese media at LendIt USA; other interviews from the Chinese media at LendIt USA can also be found here. Source

Read Full Story

Asia/Pac Fintech News Roundup

·Sep. 5, 2017

Sequoia Capital, IDG to Invest in Bitmain

Sequoia Capital and IDG Capital are investing in Bitmain, the world's largest bitcoin mining company; Bitmain is seeking $50 million in funding to expand its artificial intelligence capabilities, after previously focusing on developing chips for mining; Bitmain claimed in August that the company is at a $1 billion valuation, and is planning an IPO. Source

Read Full Story