Shandong Chenxi Group, Once One of China’s Largest Soybean Importers, Files for Bankruptcy

Formerly China’s largest soybean importer, Shandong Chenxi Group, filed for bankruptcy due to its inability to pay off debts…Full Article: Sina Finance July 2018 ChinaAg Comments On 6 July 2018, China increased the import tariff rate for U.S. soybeans to 25%. The increase was in retaliation to similar tariff increases by the U.S. on Chinese

Agricultural Bank of China to Use Big Data Analytics to Help with Farm Loan Distribution

Agricultural Bank of China Ltd, the third largest commercial lender by assets in China, deepened its application of big data analytics to the online offering of loans without collateral to farmers, to improve risk control and reduce costs. “We innovate online financing products based on data analysis by digging into our clients’ financial assets data,

Tencent’s Meituan-Dianping Online Platform Garners USD 4 Billion in Financing

Meituan-Dianping, China’s largest on-demand services provider said on Thursday [19 October 2017] it has raised $4 billion in its latest financing round that values the company at $30 billion. The round was led by Tencent Holdings Ltd, and includes new investor the Priceline Group and other key investors including Sequoia Capital, GIC of Singapore, Canada

China Development Bank to Issue Green Bonds to Fund Environmental Projects in Hubei Province

China Development Bank (CDB), a state-owned policy bank, said Tuesday [5 September 2017] that it will issue green bonds to raise funds for water resource protection along the Yangtze River Economic Belt. The bank said it will issue no more than 5 billion yuan (about 763.2 million U.S. dollars) in three-year green bonds next Tuesday,

China’s UnionPay Signs MoU with the Largest Bank in Belarus

Belarusbank, the largest bank in Belarus, signed a memorandum of understanding with China’s UnionPay International (UPI) on financial service cooperation, the press service of the bank said on Friday [25 August 2017]…Full Article: China Daily Aug 2017 Key Point The MoU focuses on integrating UnionPay with Belarusbank ATMs and other retail/service companies that work with

World Bank to Lend USD 100 Million for Heavy Metal Pollution Reduction Program in Hunan Province

The World Bank is to lend 100 million U.S. dollars to a program to reduce heavy metal pollution in China’s largest rice-producing province. “This project is the first of its kind supported by the World Bank in China, and will be innovative in addressing heavy metal pollution in agricultural lands,” said Cao Wendao, the bank’s

Spain’s Second Largest Bank to Use Alibaba’s Alipay Payment Services

Chinese tourists will be able to use Alipay mobile wallet in Spain thanks to an agreement signed between Spanish bank BBVA and China’s Ant Financial Services Group, BBVA reported on Wednesday [28 June 2017]…Full Article: China Daily June 2017 Key Point Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank, is the first Spanish financial company