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·Dec. 28, 2015

Chinese Regulators Release First Draft Of Rules For Peer to Peer Lending Industry

Chinese regulators released a draft of new rules for Chinese p2p lending platforms today. According to several reports, the China Banking Regulatory Commission...

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Asia/Pac Fintech News Roundup

·Mar. 29, 2017

Digital Investment Risks Continue in China

The Wall Street Journal reports on the prevalence of digital investment risk in China; notes 5,700 firms registered with the Association of Shanghai Internet Financial Industry; provides examples of losses from companies including Cosun and Shanghai Kuailu Investment Group. Source

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Asia/Pac Fintech News Roundup

·Dec. 13, 2016

China’s Greenland Financial Approaching Breakeven

Greenland Financial is expected to report a profit after one year of business; the internet finance company is a newly developed business unit of Greenland Group which is known for its focus on real estate; Greenland Financial offers three main services 1) a wealth management platform with various investment products 2) professional asset allocation and wealth management services and 3) a cloud platform for internet technology and data analysis services; contributing to the success of China's real estate conglomerate, Greenland Financial's president, Yang Xiaodong, had the following comments about the company and its future growth: "The company's revenue and profit will double each year over the next two to three years. I am confident about that. And I hope after three years, the company will seek listing on the capital market." Source

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Asia/Pac Fintech News Roundup

·Feb. 15, 2017

New Chinese Village Designed for Hedge Fund Community

China has developed a new Chinese village called Yuhuang Shannan which it has designed for the hedge fund community; a quiet village an hour from Shanghai offers a newly designed community tailored to the hedge fund industry with local office space, an elementary and an after work club for financiers; the number of hedge funds has been increasing in China and 1,000 hedge funds and private equity funds are registered in the village with assets under management of approximately 580 billion yuan ($84 billion); it's likely that hedge funds could become more prevalent in China and the village is receiving ongoing support from the government which currently includes a 30% tax bill subsidy. Source

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Asia/Pac Fintech News Roundup

·Feb. 28, 2017

Chinese Regulatory Agency Reports No Change to QDII

China's State Administration of Foreign Exchange continues to closely monitor foreign investment with no change reported to the limit for its qualified domestic institutional investors (QDII) scheme following its most recent meeting; the outstanding investment quota under the QDII scheme, which allows investment managers to raise funds and convert them internationally, was US$89.99 billion at the end of February; the country continues to seek to protect its currency from depreciating with the foreign investment quota. Source

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Asia/Pac News Roundup Online Lending USA

·Mar. 17, 2017

Lend Academy Article: Yirendai Q4 2016 Earnings Review

Yirendai released its Q4 2016 earnings after the closing bell on March 15; the Chinese online lender issued a US initial public offering of its stock in December 2015; Lend Academy provides an analysis of the company's Q4 2016 results in their article; the firm has been growing online loan originations by over 100% per year since 2013; mobile has been a significant factor for the company with 98.8% of online volume generated through Yirendai's mobile application and 85% of investors using the mobile application for investment; as a well-established firm, Yirendai is also benefiting from China's P2P regulatory focus and a higher quality portfolio of borrowers and lenders; the firm is expanding its product lines and also offering a new platform as a service product, the Yirendai Enabling Platform; it expects a similar pace of growth in 2017 with minimum projected loan originations of RMB 33 billion ($4.753 billion) compared to RMB 20.28 billion ($2.9 billion) in 2016 and minimum revenue of RMB 4.4 billion ($634 million) compared to RMB 3.2 billion ($466.4 million) in 2016. Source

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Peer to Peer Lending

·May. 5, 2017

11 Of The Largest Companies In China Dominate Chinese Fintech

There is a belief in China that Fintech is going to be larger than E-Commerce and the race is for...

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Peer to Peer Lending

·May. 9, 2018

China Struggles to Establish Credit Scoring System

In 2015 China’s Central Bank contracted eight companies, including affiliates of Tencent, Ping An and Alibaba, to help build a...

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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.

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Asia/Pac News Roundup Online Lending

·Mar. 15, 2017

Small-Loan Lenders a New Focus for Chinese P2P Regulation

Chinese regulators are preparing new rules that target the businesses of the country's small-loan lenders; recent rules have capped P2P loans at Rmb200,000 ($28,925) for an individual and Rmb1 million ($144,626) for a company however small-loan lenders fall far below these thresholds and regulators fear the companies do not have adequate risk controls; 2016 data shows China has 8,673 small-loan companies with loans totaling Rmb927 billion ($134.1 billion) and this is in comparison to approximately Rmb673 billion ($97.3 billion) outstanding from P2P lenders; China's small-loan lenders are active in the market, offering a range of lending solutions and reporting small-loan asset securitizations of Rmb82 billion ($11.9 billion) in 2016; as the country continues its focus on tightening regulation for China's P2P lending industry, Li Junfeng, director of the financial inclusion department at the China Banking Regulatory Commission, says it will be specifically addressing new regulations that target the country's small lenders. Source

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