Ant-backed credit rating firm gets central bank approval in China after 3-year wait

Quick Summary:

The joint venture, 35 per cent owned by Ant Group, had a prolonged wait after previously licenced firms were approved within weeks of applying.

While the PBOC runs its own Credit Reference Centre, it has been encouraging the private sector to offer services to individuals and small businesses.

Qiantang has 1 billion yuan (US$139 million) in registered capital.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Iris Deng

Category: Business

Markets: Hong KongChina

Topics: China Capital Personal Credit-reporting Bank Credit Licence Granted Central Individuals Qiantang

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 17:30:07 (21 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 193 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23549229

View Article Analysis

About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 14 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 3 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

Publisher Details

Frequently Asked Questions