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
Huawei’s Harmony OS Will Compete Globally Within 2 Years, Founder Says
German Wholesaler Metro Agrees to Sell China Business to Wumei
LATEST
German Wholesaler Metro Agrees to Sell China Business to Wumei
Huawei’s Harmony OS Will Compete Globally Within 2 Years, Founder Says
Tech Entrepreneurs Dominate Latest Hurun Rich List
BYD Suffers Third Successive Drop in Monthly EV Sales
U.S.-Listed Chinese KOL Company Falls 9% After Flood of Class Lawsuits
Sunac Buys Li Ka-Shing Development in Dalian For More Than $560 Million: Sources
Bridge Collapse in Jiangsu Kills 3
Apple CEO Defends Decision to Block App Used to Track Hong Kong Police Movements
Chinese AI Startup Develops Image Recognition System With Japan Shipping Giant
Gaming Giant Blizzard Gets Frosty Response to Hong Kong Gamer Ban
Apple Pulls Hong Kong Police Tracker from App Store in Latest About-Face
Blacklisted Hikvision’s Stock Plunges Despite Upbeat Expectations
Patriotic Titles Fly the Flag for China’s Box Office During Golden Week
Nio Mini-Comeback Continues With Strong Q3 Deliveries
China Extends Policy Allocating Localities More Tax Revenue Amid Economic Slowdown
China’s 5G Service Preorders Hit 10 Million
Fitbit, Tile Look to Shift Production out of China Amid Tariff Strife
Alibaba, JD.com Stop Selling E-Cigarettes to U.S. Buyers
China Drafts Rule to Ban Price Discrimination in Tourism Services
New Chinese Entries on U.S. Blacklist Say Impact Is Manageable
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