China Fintech
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Chinese fund platforms bundle QDII funds into one-click orders as quotas cap daily buying
Licaitong, WeBank, Qieman and Du Xiaoman now let investors spread one plan across dozens of Nasdaq and S&P 500 QDII funds. Quota limits mean 37 funds on Licaitong accepted only…
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NIFA names eight lending apps over “low threshold” ads in first notice under online marketing rules
The National Internet Finance Association has named eight lending apps for using the banned phrase “low threshold” in ads. It is the first such notice since China’s online financial marketing…
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Deep dive: Hong Kong takes tokenised settlement live for deposits, gold and funds
At Hong Kong FinTech Week the HKMA moved EnsembleTX to round-the-clock settlement in tokenised central bank money, and banks used it for the first gold trades paid in tokenised deposits.…
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e-CNY hard wallets now pay fares across Shenzhen’s whole metro and bus network
Since November 3, riders in Shenzhen can tap an e-CNY hard wallet to pay at all 432 metro stations and on nearly 900 bus routes. Eight banks issue the wallets,…
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Hong Kong FPS to link with UnionPay International by year-end for QR payments at 100 million merchants
The HKMA says Hong Kong’s Faster Payment System will connect to UnionPay International by the end of 2026, letting FPS app users scan QR codes at over 100 million merchants.…
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SAFE draft would let payment firms handle FX for market procurement and foreign trade service exports
A SAFE draft notice released on November 2 would let licensed payment institutions handle foreign exchange for market procurement trade and foreign trade service companies, beyond cross-border e-commerce. Comments close…
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e-CNY salaries reach Jiangsu universities as staff pay moves to digital wallets from November
Yangzhou University and Nantong University will pay staff salaries into e-CNY wallets from November, following notices from the Jiangsu finance department. Suzhou recorded 6 trillion yuan of e-CNY transactions in…
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Payment apps from six licensed firms named by Shanghai regulator over personal data and complaints
Seventeen apps and mini programs from six licensed payment institutions, including Allinpay, 99Bill, SandPay and Fuiou, were among 41 named by the Shanghai Communications Administration for infringing user rights.
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Financial Law draft returns to China’s legislature with rules on online marketing and cross-border finance
China’s draft Financial Law goes to a second reading at the NPC Standing Committee session on November 2 to 6. The revised text adds rules on online marketing and tighter…
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e-CNY settlement in Guangxi now reaches Hong Kong, Laos, Malaysia and Singapore
The PBOC’s Guangxi branch said on October 30 that e-CNY settlement channels with Hong Kong, Laos, Malaysia and Singapore are open, and that it will push e-CNY use across the…
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