Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

TRENDING
Astra Inks Oxford Vaccine Production Deal with China’s Kangtai
Foldable Phone-Maker Plans Shenzhen IPO, Dispelling Rumors of U.S. Listing
SMIC Profits Soar to $138m in Second Quarter
LATEST
SMIC Profits Soar to $138m in Second Quarter
Foldable Phone-Maker Plans Shenzhen IPO, Dispelling Rumors of U.S. Listing
Astra Inks Oxford Vaccine Production Deal with China’s Kangtai
Trending Story: Are Any New Graduates Really Worth 2 Million Yuan a Year? Netizens Discuss!
Trending in China: Popcorn or Cheaper Tickets - What Would Make You Return to the Cinema?
Tesla Challenger Xpeng Raises $400 Million Before Planned U.S. IPO
CATL Announces it Will Supply Batteries for Mercedes-Benz New Electric Sedan
TikTok Sees No Slowdown in Global Popularity Despite Indian Ban and U.S. Threats
Baidu Search, Sina Weibo on ‘Secret List’ of Chinese Apps Banned in India’s Latest Purge
Trending in China: Choosing a College Major - For Love or Money?
Evergrande Health Forges Ahead With Six New Electric Vehicles
Trending in China: How Cute Rabbit Ears Are On the Frontline in Fight Between Delivery Firms
Chinese Company Files Lawsuit Against Apple’s Siri for Patent Infringement Worth Billions
China Home to Six of the World’s Top 10 Unicorns, Hurun Report Says
Trending in China: Can Music Streamers Help Users’ Depression?
Core Parts of China’s Beidou Satellite System ‘100% Made in China’
Trending in China: Xiaomi CEO’s Shows How Best To Harness China’s Social Media Humor for Serious Business
Apple Takes Down Over 30,000 Apps from China Store Amid Government Crackdown
Chinese Chipmaker SMIC to Establish Joint Venture for Wafer Production
Microsoft Said Plan to Acquire TikTok Will Continue
Tencent Reshuffles Leadership of Fintech Business

By Qian Tong and Han Wei / Jun 20, 2019 03:54 AM / Business & Tech

Photo: VCG

Photo: VCG

Chinese internet giant Tencent Holdings Ltd. initiated a management shakeup in its financial business as part of the company’s broader internal restructuring to redefined its business landscape, Tencent said Wednesday.

Lai Zhiming, vice president and head of Tencent’s fintech division, was named chairman of Infinium Ltd., a Hong Kong-based virtual bank jointly launched by Tencent, state-owned Industrial and Commercial Bank of China Ltd. and Hong Kong Exchanges and Clearing Ltd.

Lin Haifeng, the former head of Tencent’s mergers and acquisitions department, will succeed Lai to lead the fintech division, according to an internal announcement.

The new appointments were made to serve Tencent’s new-business development, said Tencent President Liu Zhiping, The company encourages internal transfers of managers to support personal development and increase organizational vitality, Liu said.

Since September last year, Tencent has launched a series of internal reshuffles affecting most of its business divisions outside those related to fintech.

The fintech division, including payment, online banking and investment business, is part of Tencent’s Corporate & Development Group which altogether contributed 21.8 billion yuan ($3.1 billion) of revenue in the first quarter, Tencent’s second-biggest revenue source after online games.

Related: In Depth: Why Tencent Wants a Lift in Corporate Cloud Customers


Share this article
Open WeChat and scan the QR code