(ATF) China has banned micro-lending firms such as Jack Ma’s Ant Group from granting consumer loans to college students in a bid to prevent more than 30 million students across the mainland from falling into debt traps.The ban strikes another blow against online micro-lending platforms, including Ant Group’s Huabei and …
(ATF) China's central bank unveiled draft rules for online payment firms on Wednesday that say companies that have abused their dominance in the payment sphere will be forced to split up. Criteria specified by the rules has triggered red flags for both Alipay and WeChat Pay.This follows the regulators’ issuance …
(ATF) PayPal, which recently took full control of Chinese payment service provider Guofubao Information Technology Co Ltd – GoPay – is in no position to compete with Alipay or WeChat Pay in China’s domestic market, sources close to the firm say. PayPal is likely to continue to focus on cross-border …
(ATF) US President Donald Trump has signed an executive order which aims to ban transactions on eight Chinese software applications, including Ant Group’s Alipay, citing national security concerns.The move seeks to increase pressure on China before the Biden administration takes office, but it may hamper incoming President Joe Biden’s attempts …
(ATF) US President Donald Trump has signed an executive order which aims to ban transactions on eight Chinese software applications, including Ant Group’s Alipay, citing national security concerns.The move seeks to increase pressure on China before the Biden administration takes office, but it may hamper incoming President Joe Biden’s attempts …
(ATF) A Chinese law professor has filed an appeal after winning a facial recognition case against a safari park in eastern China’s Hangzhou city, asking the court to rule that the park’s collection of people's facial images is illegal. In the meantime, a spokesperson from China’s legislature told Chinese media …
(ATF) India dealt another blow to China on Tuesday by banning a third batch of its apps.The Ministry of Electronics and Information Technology (MEITY) blocked access to 43 additional Chinese apps, including the popular online retail portal AliExpress, owned by Jack Ma's e-commerce giant Alibaba Group."This action was taken based …
(ATF) Speculation about China’s digital yuan has been rife all year. At present, the digital yuan is being tested in Shenzhen, Suzhou and other places, but to most of the country's 1.4 billion people it is still a mystery.In the China Financial Stability Report (2020) released on November 6, the …
BEIJING/SHANGHAI: China on Tuesday published draft rules aimed at preventing monopolistic behaviour by internet platforms, a move that will increase scrutiny on e-commerce marketplaces and payment services belonging to the likes of Alibaba Group. China's State Administration for Market Regulation (SAMR), which issued the draft, said it wanted to prevent …
(ATF) The Shanghai Stock Exchange has suspended the huge stock listing of Ant Group amid concern that investors have not been given proper notice about major regulatory changes announced on Monday.The bourse decided to push back the $34-billion listing originally set to take place in Hong Kong and Shanghai this …
