China

China’s Ant International Eyes Fintech In Saudi Arabia
11Nov mmBy Brian ThompsonNo Comments
Asia, China

China’s Ant International Eyes Fintech In Saudi Arabia

Ant International, the digital payments division of Ant Group from Hangzhou, China, has agreed with Abdul Latif Jameel Finance from Riyadh to jointly identify fintech projects in the Kingdom. The timing is no coincidence. Ant International, a global provider of digital payment and financial technologies headquartered in Singapore, and Abdul Latif Jameel Finance, a leading provider of innovative financing solutions regulated by the Saudi Central Bank (SAMA), have signed a Memorandum of Understanding. The aim of the partnership is to promote the growth and competitiveness of micro, small, and medium-sized enterprises (MSMEs) in Saudi Arabia (population 35.3 million) through advanced digital services. According to SAMA, by the end of the second quarter of 2025, 79 percent of paymen...
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China’s path to strong national finance
11Nov mmBy Joe RodriguezNo Comments
China

China’s path to strong national finance

Chinese President Xi Jinping's speech at the Fourth Plenum in Beijing last month outlined the guidelines for the upcoming 15th Five-Year Plan (2026-2030). There was a clear determination to focus on technological self-reliance, building a “high-quality productive forces” economic model based on innovation and a strong industrial base that would be resilient against external threats and headwinds. At the Beijing Finance Street Forum at the end of October, Vice Premier He Lifeng stressed the need for China's financial system to advance risk prevention, strengthen regulation, promote high-quality development and push for high-standard opening-up. Since 2026-30 will be a key period for basically achieving socialist modernization by 2035, a high-quality productive real economy model wil...
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Key factors influencing success and failure of public-private partnerships in China
9Nov mmBy Joe RodriguezNo Comments
China

Key factors influencing success and failure of public-private partnerships in China

As an important instrument for infrastructure financing, Public-Private Partnerships (PPPs) have been widely utilised by the Chinese government. China Finance Review International (CFRI) brings you an article titled “Determinants for the Desirability of Public-Private Partnership Mode in Infrastructure Development”, which examines the factors that influence the success and failure of PPP projects in China. With nearly 14,000 PPP projects proposed between 2009 and 2022, representing over 20 trillion yuan in investment, the study addresses growing concerns about local government implicit debt and the need for more sustainable partnership models. Methodology and Scope Using a manually collected dataset of over 12,000 PPP projects from 2019 to 2022, the author analyse...
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China-US ties find ‘stable equilibrium’ but tech disruptions loom: financial leaders
4Nov mmBy Joe RodriguezNo Comments
China, USA, World

China-US ties find ‘stable equilibrium’ but tech disruptions loom: financial leaders

Global trade tensions, stoked by China-US tariffs, are settling into a steadier balance as the world braces for fresh challenges from rapid technological disruptions, financial leaders said on Tuesday at a summit in Hong Kong. The China-US relationship had entered into a more “stable equilibrium” after last week’s talks between the leaders of the world’s two biggest economies, despite the noise on the surface over tariffs and other trade disputes, said William Ford, chairman and CEO of US private equity firm General Atlantic, at the Global Financial Leaders’ Investment Summit. “Below the water line, there was actually a much more constructive engagement, as evidenced by [US Treasury Secretary Scott Bessent] and some of the Chinese leaders in their five m...
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Starbucks to sell majority stake in China business
4Nov mmBy Michael SmithNo Comments
China

Starbucks to sell majority stake in China business

Starbucks says it is selling a 60% stake in its business in China as part of a $4bn (£3.04bn) deal with investment firm Boyu Capital. Under the agreement, the world's biggest coffee chain will have a 40% stake in the Chinese retail operation and retain ownership of the Starbucks brand there. Starbucks entered Chinain 1999 and the country is now its second-largest market outside the US, but has struggled in recent years with the rise of homegrown brands like Luckin Coffee. The business will continue to be headquartered in Shanghai and will own and operate 8,000 outlets in the Chinese market, with plans to grow to as many as 20,000 locations, the firm said on Monday. The partnership with Boyu is a "significant milestone" and signals its plans for long-term growth in Chi...
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China Boosts Cross-Border Financial Services
3Nov mmBy Michael SmithNo Comments
China

China Boosts Cross-Border Financial Services

China's financial regulator plans to support Chinese banks and insurers to use Hong Kong as a hub for international financial services. Zhou Liang, vice minister of the National Financial Regulatory Administration, announced improved regulatory cooperation to mitigate cross-border financial risks between the mainland and Hong Kong. China's financial regulator is set to enhance support for Chinese banks and insurers, leveraging Hong Kong as a gateway for expanding financial services to Chinese enterprises venturing overseas. The announcement was made by Zhou Liang, the vice minister of the National Financial Regulatory Administration, on Tuesday. In an effort to address financial challenges that could arise from cross-border business, the regulator is committed to improving the f...
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China sets ‘technological self-reliance’ as a key goal for the next 5 years
30Oct mmBy Brian ThompsonNo Comments
Asia, China

China sets ‘technological self-reliance’ as a key goal for the next 5 years

China’s top leadership has made “technological self-reliance and self-strengthening” a key goal in a proposal for the next five-year plan, as it grapples with export controls from the West amid an intensifying global tech race. It is the first time in at least a decade that technological self-reliance has been set as a major goal for the country’s social and economic development. The goal was included in a detailed proposal for China’s 15th five-year plan from 2026 to 2030, which was released on Tuesday by the Central Committee of the ruling Communist Party following its fourth plenum last week. The full plan will be unveiled in March during the annual session of the top legislature. The proposal was released following a key political meeting last week....
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Openmarkets to raise USD $50 million for Asia DeFi expansion
30Oct mmBy Brian ThompsonNo Comments
Asia, China, Market

Openmarkets to raise USD $50 million for Asia DeFi expansion

penmarkets Group has announced that it is exploring a capital raise of USD $50 million to support its expansion in Asia and the development of decentralised finance (DeFi) capabilities. The Sydney-based fintech firm is targeting family offices and private wealth investors in Asia and the United States, with capital being raised to advance its DeFi strategy and broaden its presence in Singapore, the United States, Hong Kong, and select Southeast Asian markets. According to Openmarkets Group, the capital will be used to introduce crypto trading, facilitate the tokenisation of real-world assets, and establish a digital assets treasury. The firm also plans to launch its own stablecoin and develop a centralised exchange for digital assets as part of its medium-term objectives. Exp...
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Quantum computing threat looms over Asia’s financial systems: ‘we are not secure’
29Oct By Online DeskNo Comments
China

Quantum computing threat looms over Asia’s financial systems: ‘we are not secure’

Swathes of Asia’s financial systems are vulnerable to potential disruption from quantum computing technology, including those hosting secure transactions, industry executives have warned. Only a handful of major economies in the region, such as China, Japan, South Korea and Singapore, have embarked on strategies to safeguard their systems, but most financial institutions across the region are vulnerable to quantum attacks because they are ill prepared, experts say. The threat looms even as digital wallets and real-time payment systems are widely being used and deeply integrated into the financial systems. Quantum computing is a new branch of processing which can solve complex problems within minutes or hours that might take a classical computer thousands of years to crack. Wh...
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China’s EV Subsidy Era May End As Exports Boom, Priorities Shift
29Oct mmBy Brian ThompsonNo Comments
China

China’s EV Subsidy Era May End As Exports Boom, Priorities Shift

A decision by Chinese policymakers this month to not include electric vehicles among the strategic industries for the country’s latest five-year development plan is a clear signal that Beijing is about to leave behind an era of lucrative subsidies for the sector, experts say. China published its five-year development plan for 2026-2030 on Tuesday and for the first time in 15 years, new energy vehicles (NEVs) were not included in its list of strategic emerging industries. NEVs comprise EVs, plug-in hybrids, and fuel-cell vehicles. Analysts say the move is evidence that Beijing considers the industry to be mature and no longer requires the same level of financial support, leaving its development up to market forces. “It’s an official acknowledgement that electric vehicles no lo...
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