Fintech

Silhouettes of laptop users are seen next to a screen projection of binary code are seen in this picture illustration taken 28 March 2018. (Dado Ruvic/Illustration/File Photo/Reuters)

Web3 with Chinese characteristics: Finding China's solution for regulators, developers and users

Crypto ban notwithstanding, China’s getting firmly in the act of building Web3 infrastructure to its specifications. While China is unlikely to allow global Web3 to play a role in its economy or the lives of its citizens, Chinese developers and entrepreneurs remain fascinated by the promise of global Web3 platforms and cryptocurrencies. This portends the development of two blockchain markets in China: one which caters to those who “jump” the virtual fence to join in the global Web3 movement, and one which uses blockchain in line with Beijing’s vision.
An aerial view of the Hainan International Convention and Exhibition Center in Hainan province, China, 24 July 2022. (CNS)

Here’s how Hainan can become the next financial hub

Hainan is set to become China’s first free trade port and has great potential to beef up its financial offerings. Academics Pei Sai Fan and Chen Jingwei present a number of suggestions that could boost the Chinese province’s standing as an international hub for financial and regulatory innovations, green financing and connectivity.
Staff members walk past a logo of Chinese e-commerce giant Alibaba at its headquarters in Hangzhou, Zhejiang province, China, on 27 May 2022. (AFP)

China tech companies draw up war plans for ASEAN battleground

In the second of a seven-part Lianhe Zaobao-Business Times series on China and ASEAN, Zaobao senior correspondent Chew Boon Leong looks at the strategies adopted and challenges faced by China’s tech companies in Southeast Asia.
The skyline of Singapore's Central Business District, 1 December 2021. (SPH Media)

Wealthy Chinese setting up family offices in Singapore see it as springboard to ASEAN

In the first of a seven-part Lianhe Zaobao-Business Times series on China and ASEAN, Zaobao business correspondent Lai Oi Lai gives an update on the trend of high-net-worth Chinese investors coming to Singapore to set up family offices and invest in start-ups.
People ride bicycles along the promenade at Marina Bay in Singapore on 21 December 2021. (Roslan Rahman/AFP)

Singapore, Hong Kong vie for wallets of rich Chinese in tech sector

The battle is heating up as Hong Kong and Singapore both vie for the wallets of rich Chinese in the tech sector. With the idea of family offices gaining popularity in recent years, will Hong Kong or Singapore have the edge over the other?
People wearing protective masks walk on a street in Shanghai, China, 14 January 2022. (Aly Song/Reuters)

China needs timely and professional financial supervision and Singapore's experience may help

China must guard against pursuing too much financial development too fast, says NUS academic Pei Sai Fan. Only when a fine and delicate balance is struck between financial development and financial supervision — taking both financial innovation and financial stability into account — can the innovative development of the financial sector project its positive energy and dutifully serve the real economy. In that endeavour, it will be important for regulatory authorities to recruit and retain professional talents who embrace innovation, know much about fintech and are au fait with ways of growing the emerging digital financial sector as well as the market and financial risks.
A cyclist and pedestrians wearing protective masks travel past buildings on Financial Street in Beijing, China on 19 May 2021. (Yan Cong/Bloomberg)

Blindspots in the financial regulation of China’s tech ‘platform companies’

Zhang Yugui points out that China’s financial services development is currently at the awkward stage where there is much financial innovation and the opening up of the financial sector, but not yet the corresponding capabilities to manage the complex financial systems and cutting-edge fintech. Hence we see the recent rash of anti-monopoly measures directed at tech giants such as Ant Group and Tencent. But has the industry reached a true tipping point? What must regulators do to bridge the gap?
More Chinese tech companies are gaining a presence in Singapore. (Graphic: Ho Han Chong/SPH)

Singapore a popular base for China tech firms

In recent years, China's tech giants such as Alibaba, Tencent and ByteDance have set up regional offices in Singapore. With insights from industry experts, Zaobao senior business correspondent Chew Boon Leong analyses the impact that an influx of Chinese tech companies will have on Singapore. Will it affect Singapore's neutral stance and lead the nation to become a battleground for tech companies from the US and China?
 Jack Ma, founder and executive chairman of China's Alibaba Group, speaks in front of a picture of SoftBank's human-like robot named 'Pepper' during a news conference in Chiba, Japan, 18 June 2015. (Yuya Shino/Reuters)

The end of 'Papa Ma Yun' and his Hupan University

As Chinese authorities take action against monopolistic behaviour and the “disorderly expansion of capital”, companies like Alibaba and founder Jack Ma are finding themselves falling out of favour not only with the authorities but with the public. The latest development is the name change for Hupan University, established by Ma, where the motivations of the institution have come under question. Zaobao correspondent Chen Jing looks at the issue.