Bank of China expands tests of New Fintech Regulation to six more cities | Cointelegraph

“Bank of China launched its first fintech innovation regulatory pilot project in Beijing last year. The bank announced plans to expand its regulatory pilot projects in six more cities and districts on April 27.

The bank plans to conduct pilot projects in Shanghai, Chongqing, Shenzhen, Hebei Xiong’an New District, Hangzhou and Suzhou. Ultimately, it aims to improve the financial services in general for the real economy.”

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Ping An’s blockchain, AI-based consumer finance firm launches in China with $700m funding | Ledger Insights

“Yesterday, China’s Ping An Insurance announced it has set up Ping An Consumer Finance in Shanghai with a registered capital of RMB 5 billion ($700 million). The new company has been established under Ping An’s ‘finance+technology’ strategy and incorporates the Group’s expertise in AI, blockchain and cloud computing.

Ping An said its technology system would underpin the entire consumer finance business, including customer acquisition, product innovation, credit review, risk management, post-lending management and customer service. The goal is to create synergy between other group companies and form a closed-loop financial system.

[…]

Ping An has a significant presence in the blockchain space, with 68 blockchain patents. It also has 679 AI patents and 48 in cloud computing. OneConnect Financial, an AI and blockchain offshoot from the group, went public on the New York stock exchange last year.”

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R&M takes over housing manufacturer in China | Wirtschaftsraum Zürich

Reichle & De-Massari (R&M) announced the acquisition of Durack Intelligent Electric. The purchase of the Chinese specialist for housings and cabinets for modular data centers is intended to open up growth for the cabling specialist from the Zurich area.

@ Wirtschaftsraum Zürich | April 1, 2019