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The TECH86 Roundup (Feb.1 – Feb.14)

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

FINTECH Roundup

PBOC Patents Show China’s Push For Digital Money. via PYMNTS.
The Peoples’ Bank of China has filed over 80 patents in its attempts to start its own digital currency, an extensive and elaborate plan to take the renmibi to the digital stage.

ZhongAn Online’s Hong Kong Virtual Bank Enters Cashless Payments Agreement with Visa. vVia China Banking News.
The Hong Kong dig­i­tal bank­ing sub­sidiary of Chi­nese fin­tech com­pany Zhon­gAn On­line has en­tered an agree­ment with Visa to work on cash­less pay­ments so­lu­tions.

Deal allows Alipay users to wire money. via China Daily Global.
Alipay has recently gained approval to receive international remittances from London-headquartered WorldRemit.

PBOC gives green light to Mastercard’s China JV for clearing business, via CGTN.
China’s central bank has approved an application by MasterCard’s China joint venture to conduct bank card clearing operations in the country.

Net­sUnion Posts over 11% Rise in On­line Pay­ments Trans­ac­tions Dur­ing 2020 Chi­nese New Year, via China Banking News.
China’s centralised platform for the processing of online transactions has reported a sharp YoY rise in transaction numbers during the 2020 Chinese New Year vacation, as the spread of the novel coronavirus continues to stem personal movement.

AGRTECH Roundup

Beijing Calls for Application of IoT, Blockchain and Artificial Intelligence to Chinese Agriculture, via chinabankingnews.
Beijing has issued a new directive calling for the greater application of new technologies such as the blockchain to China’s agriculture sector.

MFGTECH Roundup

Big data improves China’s system and capacity for governance, via CHINA ECONOMIC NET.
Using big data technology, more efficient ways have been developed to solve problems in the public sphere in China.

China’s mobile giants to take on Google’s Play store: sources, via the Business Times.
China’s Xiaomi, Huawei Technologies, Oppo and Vivo are joining forces to create a platform for developers outside China to upload apps onto all of their app stores simultaneously, in a move analysts say is meant to challenge the dominance of Google’s Play store.

CLNTECH Roundup

China leads in renewable energy sector, via China Daily.
Since the renewable energy law took effect in January 2006, China’s renewable energy sector has grown into the world’s largest from its modest beginnings, with rapid utilization of renewable power and the advancement of related technologies.

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