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Focus China News Roundup- Issue #46

Every fortnight we compile a list of important news updates and events covering the Chinese FINTECH, MFGTECH, CLNTECH, and AGRTECH sectors.

For a downloadable copy of China’s Issue #46

FINTECH

The Establishment of the Beijing Stock Exchange was announced
31 years after the establishment of the Shanghai and Shenzhen stock exchanges in 1990, China’s mainland capital market ushered in another national stock exchange. The establishment of Beijing Stock Exchange will further promote the development of China’s capital market.

Lexin signed a strategic cooperation agreement with E-Union Bank
Lexin signed a strategic cooperation agreement with Eunion Bank. In the future, the two sides will carry out all-round in-depth cooperation in the fields of personal credit consumption, pay later enjoy, small and micro finance, wealth management, fintech and other fields, creating a new benchmark for cooperation between fintech companies and private banks.

Lakala is a pioneer in digital currencies
Lakala is a pioneer in digital currency, mainly participating in all 11 pilot cities, and thus entering many large and medium-sized merchants that the company has not covered before. Lakala upgraded millions of terminals to accept the digital RMB.
Yangqing Zhu is the Vice President at Lakala

Deeplight technology completed angel round financing of tens of millions of CNY
The investor of this round of financing is Zhengxuan Investment. Deeplight Technology is an insurance technology enterprise focusing on the data measurement ability of life insurance companies. By providing customers with efficient and easy-to-use computing tools, Deeplight Technology promotes the company’s fine management and product iteration efficiency.

Standard Chartered and Lianyi Finance announced a joint venture
Standard Chartered and Lianyi Finance, a supply chain fintech solutions provider, have announced a joint venture. The joint venture will create a comprehensive digital trade and finance platform driven by block chain

Shenzhou Information has signed contracts with more than a dozen banks to build digital RMB-related systems
Shenzhou Information has signed contracts with more than a dozen banks to build digital RMB-related systems. Shenzhou Information develops and promotes digital RMB application scenarios. Shenzhou Infomation has independently developed a prepaid card platform based on digital RMB and is in the process of communication and cooperation with the government.

Jiufu will transform into New digital blockchain Securities Brokerage Platform
Jiufu will transform the company from a financial technology service provider focusing on personal credit technology to a digital and blockchain securities brokerage with equity securities brokerage services and digital asset technology services as its core.

Huaxia Bank has been connected to the bank confirmation blockchain service platform
Huaxia Bank continues to strengthen technology to empower business, restructure wechat bank, improve mobile banking functions, and successfully access the bank confirmation blockchain service platform.

Jinninghui Technology completed tens of millions of CNY A+ round of financing
This round of financing led by Jiangbei Science Investment Group. Jinninghui is an innovative enterprise with original blockchain underlying technology, aiming to become the information and financial infrastructure technology service provider in the digital era. 

ALLSENCE Technology completed B round financing of hundreds of millions of CNY
ALLSENCE Technology completed B round financing of hundreds of millions of CNY. This round of financing will be used to iteratively upgrade products, accelerate market layout, strengthen engineering capabilities, improve service levels and build ecosystems.

EMQ Yingyun Technology and RT-Thread sighed a strategic cooperation
EMQ Yingyun Technology , an open source Internet of Things data infrastructure software provider, signed a technical strategic cooperation agreement with Shanghai RT-Thread, an Internet of Things operating system manufacturer.  

Xinhai Technology completed A round of financing
Xinhai Technology completed tens of millions of round A financing. Xinhai Technology is a human resource industry supply chain digital technology service cloud platform. The financing fund is mainly used for
digital technology upgrading research and development, industrial ecological layout and brand building.

Shenqing Technology completed A round of financing
Shenqing Technology completed 100 million CNY A round of financing. This round of financing was led by Xing Fu capital. Shenqing will increase investment in the research and development of intelligent products, accelerate the construction of data and cloud platform, and realize the transformation form “intelligent financial information” to “content technology”.

The number of agents of five listed life insurance companies decreased by 830,000 in the first half of the year
The number of life insurance agents in the five listed life insurance companies, which are China Life Insurance, Ping An Life Insurance, China Pacific Life Insurance, New China Insurance and PICC, decreased by 830,000 from 4.19 million in the first half of this year, a decrease of 19.8 percent.

AGRTECH

Pinduoduo Says it will help farmers to bring out “full value” by building agriculture brands
Pinduoduo, one of China’s largest agriculture platforms, said it will help promote geographical indications and work with farmers to build agricultural food brands so that they can bring out the full value of their labors.
Martial Ma is the Vise President at Pinduoduo

Guangdong Unicom cooperates with Jieyang City for rural revitalization
Guangdong Unicom and Jieyang Municipal Government will cooperate to implement the rural revitalization strategy. The two sides will cooperate in digital agriculture, digital countryside, talent science and education, rural e-commerce and other fields. Guangdong Unicom will build a digital agricultural industry cloud application service platform, an agricultural IoT perception platform, and an agricultural digital operation and management platform to promote the agricultural digital construction in Jieyang City.

Hema signed a cooperation to promote country specialties
This year, Alibaba will promote agricultural products from 100 counties (districts) across the country to enter Hema. With the support of digital technology and sales channels, Alibaba will reduce the cost of matching supply and demand information and boost the branding of characteristic agricultural products. The first batch of 10 characteristic counties have signed contracts with Alibaba to obtain its digital support and promote the building of a new supply and marketing system.
Chirs Tung is the Chief Marketing Officer at Alibaba Group

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