China’s UnionPay Cards Now Accepted by BPS-Sberbank

BPS-Sberbank has become the second commercial bank in Belarus to accept China’s UnionPay cards, according to Shanghai-based UnionPay International Wednesday [12 April 2017]. According to the agreement, BPS-Sberbank will accept and issue UnionPay cards within the year and the two parties will also cooperate on launching mobile payment services in Belarus…Full Article: ECNS.cn Apr 2017

Agriculture-related Loans Topped CNY 28 Trillion at the End of 2016

Chinese banks strengthened financial support for agriculture, small-and-micro enterprises and affordable housing projects last year. Outstanding agriculture-related loans stood at 28.2 trillion yuan (about 4.1 trillion U.S. dollars) at the end of 2016, up 7.1 percent year on year, according to a statement posted on the website of the China Banking Regulatory Commission. Outstanding loans

Australian Grocery Chain Woolworths to Accept China UnionPay Cards at its Supermarkets

The Australian grocery giant Woolworths said on Tuesday [7 February 2017] that it will now accept UnionPay cards at its stores; China’s leading debit and credit cards. Woolworths will offer all forms of UnionPay payment, including the contactless mobile based transactions at its terminals…Full Article: China Daily Feb 2017 Key Points According to China UnionPay

Alibaba’s Ant Financial Services Plans to Dole Out CNY 1 Trillion in Rural Loans Over the Next 3 Years

Ant Financial Services Group, Alibaba Group Holding Ltd’s financial-services affiliate, has ramped up its expansion in rural finance-with the company announcing on Tuesday [20 December 2016] that it will provide so-called acquaintance-based loan services, big data-based online loan services and supply chain financing for the rural population in China. Acquaintance-based loan services is a new

China Huishan Dairy Accused of Inflating Profit Margins By California-based Due Diligence Firm

Leading dairy firm China Huishan denied fraud charges published by Muddy Water LLC, a due diligence based investment firm that conducts investigative research on public companies. Huishan says that its operations are proper and that its financial report disclosure is true and accurate. The Hong Kong-listed dairy company ranks No 1 in Northeast China and

New Zealand’s Fonterra Inks Agreement with the Bank of China to Establish US$216 Million Multi-Currency Facility

Dairy giant Fonterra said on Thursday [15 December 2016] that it had established a 1.5 billion yuan ($216.36 million) multi-currency facility with Bank of China. Fonterra, the world’s largest dairy exporter, said the facility will provide diversity in its yuan funding sources for its operations in China, its largest market…Full Article: The Global Times Dec

China’s Asia Pacific Food Capital Signs Agreement with Kazakhstan’s National Export and Investment Agency

Kazakhstan and China intend to create a joint agricultural investment fund [~US$3 billion], Kazinform reports. Creation of the Kazakhstan-Chinese investment fund in the field of agricultural industry is provided by the Cooperation Memorandum between JSC National Export and Investments Agency KAZNEX INVEST of the Ministry for Investments and Development of the RoK and Asia-Pacific Food