Following years of explosive yet unchecked growth of P2P lending in China, the central government in August announced sweeping regulations to rope in the nascent sector. But Caixin reporters found that while some P2P lenders have been trying to follow the new requirements, others have managed to skirt the new rules. “The problem is that […]
Category: Consumer
Mattel expects to grow three to four times in the more than $31 billion toys and games market in China by 2020 through digitally connected toys, as it intensifies its efforts to take on LEGO Group and Hasbro Inc in the country, Reuters reports. Mattel said its emphasis on e-commerce and repackaging its core brands […]
JD.com has tried, and again failed, in creating an online platform for used goods, as the e-commerce giant shutters yet another short-lived secondhand trading site, Caixin reports. Kumai, a little-known used-goods marketplace under JD.com, has notified users that it will be closing shop in two months, due to a “business model transition,” marking the end of […]
Ant Financial, the payments affiliate of Alibaba, says it has doubled its daily active users in the year to end-March. Much of the growth came in the first quarter of this year, with numbers up 40% on the previous quarter, according to Ant Financial. Alibaba, which reports results on Thursday, has a profit sharing agreement […]
China appears to have a long way to go before it can fully achieve its ambition to develop a third-party credit-reporting industry, according to Caixin. That is despite the People’s Bank of China handpicking eight Chinese companies for a pilot project more than two years ago. In 2015, the central bank gave the green light to open up the […]