Banking

Recently, the China Banking Association (CBA) has released the 2020 year report of the development of China consumer finance companies, which shows that as of the end of June in 2020, there are 26 consumer finance companies in China, with assets worth 486.15 billion yuan, loan balance reaching 468.61 billion yuan, and serving customers totaling 140 million.

On August 18, Alibaba Cloud and Shenzhen Rural Commercial Bank signed an agreement on comprehensive strategic cooperation, aiming to jointly promote cloud computing and distributed architecture in the core financial sectors, and to comprehensively deepen the digitalization of the industry.

Gui’an New District is located in the combined area of ​​Guiyang City and Anshun City in Guizhou Province, covering 4 counties (cities, districts) and 20 townships under the jurisdiction of Guiyang and Anshun, with a planned control area of ​​1,795 square kilometers.

China’s Central Bank released the 2020 RMB Internationalization Report recently. The report pointed out that in the future, the central bank will continue to be guided by serving the real economy, adhere to the principle of marketization, and steadily promote the internationalization of the RMB.

On August 12, the Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China and Postal Savings Bank of China all issued announcements about switching the benchmark for pricing the floating-rate individual housing loans to LPR.

China will unswervingly deepen the reform of the financial industry and open up to the outside world, China’s central bank governor Yi Gang said on August 9.

On August 6, 2020, Bohai Bank Co., Ltd. was granted a banking license by the Hong Kong Monetary Authority and became a licensed bank in Hong Kong.

Applicants include Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, SPD Bank, Bank of Shanghai, Shanghai Huarui Bank, China UnionPay, CCB Fintech, China Mobile, and etc.

WeLab Bank, a Hong Kong virtual bank licensed by the Hong Kong Monetary Authority, officially opened on July 30, 2020, providing banking services to millions of people in Hong Kong.

Recently, China CITIC Bank and Contemporary Amperex Technology (CATL) signed a general strategic cooperation agreement.