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Microloan
Once a playground for freewheeling private internet finance companies, China's emerging sector for short-term unsecured loans has become the latest target of a regulatory cleanup.
China Issues New Rules to Clean Up Online Microloans
Notice from central bank and banking regulator bans unlicensed lenders and orders no new licenses, no illegally high interest charges, no violent debt collection
New Buyer for Home Credit Financial Services: Who Will Take Over?
Home Credit Group pledged its entire equity in Home Credit Consumer Finance, totaling 7 billion yuan, reflecting financial struggles and tight cash flow. Market speculations suggest Home Credit seeks an investor, with reports indicating JD Technology, not ByteDance, is the potential buyer. JD Technology aims to acquire the consumer finance license, promising not to relocate it from Tianjin and agreeing to manage Home Credit's non-performing assets.
Exclusive: JD.com’s Fintech Arm to Buy Troubled Consumer Lending Firm, Sources Say
Purchase of wholly foreign-owned Home Credit Consumer Finance will give internet giant a coveted consumer finance license
China’s 30,000 Local Financial Entities Face Tougher Scrutiny
Regulatory bodies call for the elimination of these institutions that do not comply with the rules
Daily Tech Roundup: Ex-Alibaba CEO Lands at Venture Capital Firm
Ant Group completes microloan business revamp, Geely-backed auto suppliers unveil smart drive chip to rival Nvidia
Shanghai Composite Index Fell 0.95% on Friday
Shenzhen Component Index closed down 1.21%
Ant Group Completes Microloan Business Reshuffle
Separating Huabei and Jiebei is a key part of bringing Ant Group back into line after the abrupt suspension of its $34.5 billion IPO
Weekly Must-Read: Silicon Carbide Chips Could Give Chinese EV Firms an Edge, With Beijing’s Help
Material can dramatically cut battery charging times and is backed by science, but comes at a high cost
Shanghai Composite Index Fell 0.7% on Tuesday
Shenzhen Component Index closed down 0.56%
Ant Group Consumer Lending Arm Plans $625 Million Capital Injection
Chongqing Ant Consumer Finance is boosting its registered capital to complete the acquisition of its parent’s microloan businesses, sources say
Ant Group’s Lending Unit Gets Approval for $1.5 Billion Capital Boost
The capital expansion is seen as a necessary move for Chongqing Ant Consumer Finance to maintain its lending business
In Depth: Ant Group Rebuilds for Regulators, but at What Cost?
The fintech company is a shadow of the titan it once was, with its highly lucrative consumer lending business decoupled from ubiquitous payments service Alipay
Five Things to Know About China’s Draft Rules on Local Financial Institutions
Draft regulations to strengthen supervision may be difficult to enforce and could even put unnecessary burdens on market participants, experts say
In Depth: The Rectification and Remaking of Ant Group
Although the worst-case scenario of a breakup has been avoided, Jack Ma’s fintech behemoth will be forced to undergo a major restructuring
Tencent Profit Beats Expectations Despite Tightening Scrutiny of Big Tech
Tencent pledges all-out effort to comply with regulations; investors focus on entertainment business as fintech faces crackdown
Reg Watch No. 3: What You Need to Know About China’s Banking and Insurance Supervisor
Who’s who and what’s what at the China Banking and Insurance Regulatory Commission
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