The People’s Bank of China has issued an emergency alert to stop the use of virtual credit card products as well as two-dimensional code payments that are often used with mobile devices. Chinese Internet companies like Alipay and Tencent previously launched such services. However, neither company has given any comment on the situation. The emergency […]
Five Chinese government units, including the People’s Bank of China, Ministry of Industry and Information Technology, China Banking Regulatory Commission, China Securities Regulatory Commission, and China Insurance Regulatory Commission, have jointly issued a notice about preventing risks against Bitcoin speculation. Though the warnings were not full condemnations of the cyptocurrency, sell prices on exchanges as […]
Tenpay, the Internet payment subsidiary of Chinese technology firm Tencent, and American Express have reached an agreement to jointly provide Internet payment services to Tenpay’s overseas users who purchase goods from American Express vendors.
Chinese social networking website Renren.com has announced that it will launch an interest-free housing scheme, and employees can apply for loans of between CNY200,000 and CNY400,000.
The People’s Bank of China has published a report saying that it has issued licenses for non-financial institutions to operate payment businesses to 27 companies, including Alipay.com.
Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People’s Bank of China and China Banking Regulatory Commission.
The People’s Bank of China’s second generation Internet payment system, which is also know as the super online banking system, has been formally launched in Shenzhen, Tianjin, Beijing, and Guangzhou.
