More than 100 colleges and universities have set up fintech majors

1. Banks

190 million rural commercial banks withdrew their A-share IPOs

On June 26, the Shanghai Stock Exchange issued an announcement stating that a few days ago, Jiangsu Hai'an Rural Commercial Bank and its sponsor Guotai Junan Securities applied to the Shanghai Stock Exchange to withdraw the application of Hai'an Rural Commercial Bank for listing on the main board of the Shanghai Stock Exchange. In accordance with the relevant regulations, the Shanghai Stock Exchange decided to terminate the review of the bank's initial public offering and listing on the main board of the Shanghai Stock Exchange. The withdrawal of the listing application is another case after Anhui Bozhou Yaodu Rural Commercial Bank withdrew its application for issuance and listing in January this year. Hai'an Rural Commercial Bank was established on February 28, 2011 with a registered capital of 1 billion yuan. As of the end of 2023, the bank's total assets were 93.610 billion yuan, an increase of 13.17% over the previous year. This asset size is comparable to the size of Zhangjiagang Bank when it went public in 2017. 【Brokerage China】

2. China Merchants Bank was reduced by JPMorgan Chase by 6.4012 million shares

According to the latest equity disclosure information of the Stock Exchange, on June 21, 2024, China Merchants Bank (03968.HK) was reduced by JPMorgan Chase & Co. by 6,401,200 shares at an average price of HK$35.0814 per share, involving about HK$225 million. After the reduction, JPMorgan Chase & Co. has a new long position of 271,047,302 shares, and the proportion of long positions decreased from 6.04% to 5.90%. 【Gelonghui】

3. CDB welcomed its fifth vice president

A few days ago, there were another senior management changes at the China Development Bank. According to the official website, Chen Mengmeng has been appointed as the vice president of CDB, and so far, CDB has a total of 5 serving vice presidents. In fact, in less than a year since September last year, CDB has welcomed three vice presidents, including Xie Taifeng from ICBC, Wang Kebing from the Finance Department of the Ministry of Finance, and Chen Mengmeng from the Agricultural Development Bank of China. 【House of Finance and Economics】

4. Bank of Zhengzhou responded to "0 dividends for four consecutive years"

On the evening of June 24, Bank of Zhengzhou issued an announcement on the reply to the "Shareholder Inquiry Letter" of the China Securities Small and Medium-sized Investor Service Center (hereinafter referred to as the Investment Service Center). According to the announcement, the investment service center still has doubts about the failure of Bank of Zhengzhou to pay cash dividends in 2023, and exercises the right of shareholder inquiry in accordance with the law. Bank of Zhengzhou responded: First, profitability continued to be under pressure. The second is to comply with regulatory guidance and enhance risk resilience. Third, the requirements of the capital supervision policy of commercial banks are becoming increasingly stringent. 【WEMONEY LABORATORY】

5. The qualifications of Zhang Baojiang, President of Bank of Communications, were approved

On June 26, Bank of Communications issued an announcement stating that the bank received the "Reply of the State Administration of Financial Supervision and Administration on the Qualifications of Zhang Baojiang Bank of Communications President" today, and Zhang Baojiang's qualifications as the president of the bank were approved by the State Administration of Financial Supervision and Administration to take effect. According to the resolution of the 15th meeting of the 10th board of directors of Bank of Communications, after Zhang Baojiang's qualification as president came into effect, Chairman Ren Deqi will no longer act as president. 【New Frontline of Banks】

2. Consumer Finance

1. The assets and loan balance of the consumer finance company both exceeded one trillion yuan

Recently, the China Banking Association released the "China Consumer Finance Company Development Report (2024)" (hereinafter referred to as the "Report"), which disclosed the overall situation of the consumer finance industry. The report pointed out that in 2023, consumer finance companies will effectively implement macroeconomic policies, prevent and resolve consumer finance risks, balance the development of asset and liability business, improve the capacity of consumer financial services, and increase the supply of consumer credit, with the asset scale and loan balance both exceeding one trillion yuan, reaching 1,208.7 billion yuan and 1,153.4 billion yuan respectively, with a year-on-year growth rate of 36.7% and 38.2% respectively, helping consumption play the role of "stabilizer" and "ballast" for the smooth operation of the national economy. 【WEMONEY LABORATORY】

2. Consumer finance companies issued 25.5 billion yuan of financial bonds in half a year

On June 24, Industrial Consumer Finance Co., Ltd. (hereinafter referred to as Industrial Consumer Finance) disclosed the issuance of the fourth phase of financial bonds in 2024, and the actual total amount of financial bonds issued by the company in the fourth phase of 2024 was 2 billion yuan. According to incomplete statistics from the reporter of Dahe Finance Cube, 6 consumer financial institutions have issued 15 financial bonds totaling 25.5 billion yuan this year, and the scale and volume of issuance have hit a record high. 【Big River Cube】

3. The equity of UCAR, the second largest shareholder of Happiness Consumer Gold, was frozen by the judiciary again

Recently, the 250 million shares held by Shenzhou Youche Co., Ltd., the second shareholder of Hebei Fortune Consumer Finance Co., Ltd., have been frozen by the judiciary again, and the freezing period will be until May 16, 2027. The 87 million shares held by Blue Whale Holding Group Co., Ltd., the third largest shareholder of Happy Consumer Gold, are also in a state of full pledge. According to public information, Happy Consumer Finance was established in June 2017 with a registered capital of 637 million yuan. There are three shareholders of Happiness Consumer Finance, namely Zhangjiakou Bank Co., Ltd. (hereinafter referred to as "Zhangjiakou Bank"), UCAR, and Blue Whale Holdings, with shareholding ratios of 47.1%, 39.25%, and 13.65% respectively. 【Financial Tiger】

3. Fintech

1. More than 100 colleges and universities offer financial technology majors, matching many positions

With the 2024 college entrance examination scores in various places one after another, voluntary filling has become a hot topic. In the relevant discussion, the employment rate of the applied major is still unavoidable, and the financial technology major is also considered to be one of the majors with a "money scene". On June 27, the reporter found that in 2023, 18 more colleges and universities will be approved to add new financial technology majors. Up to now, a total of 125 colleges and universities are qualified to train undergraduate students majoring in financial technology. 【Beijing Business Daily】

2. Bank of China Financial Leasing was fined 900,000 yuan

Recently, the Chongqing Supervision Bureau of the State Administration of Financial Supervision and Administration issued an administrative penalty information disclosure form. According to the penalty information, Bank of China Financial Leasing Co., Ltd. was in compliance with the use of financial leasing funds; The person in charge of the leased property was fined 900,000 yuan for failing to manage the risk of the leased property, and the person in charge was fined 50,000 yuan. Specifically, the facts of violations of laws and regulations are: the use of financial leasing funds is not compliant; Leased property risk management is not in place. At the same time, Wang Meng, then senior manager of the green finance department of Bank of China Financial Leasing Co., Ltd., was fined 50,000 yuan. 【Financial Tiger】

3. Guangdong Microfinance Association reminds of the risks of loan business: illegal and violent collection or "soft violence" is prohibited

On June 25, the reporter noticed that the Guangdong Provincial Association of Microfinance Companies issued a risk reminder on the loan business between microfinance companies and lending institutions. In the process of transferring non-performing asset creditor's rights, a microfinance company shall stipulate in the contract how the creditor's rights will be handled by the creditor's rights purchaser, and prohibit illegal and violent collection or "soft violence". It is necessary to formulate the terms of cooperation agreements with lending institutions strictly and prudently. Clarify the boundaries of rights and responsibilities in terms of risk taking, risk disclosure, fee collection, information confidentiality, complaints and emergency response. 【Beijing Business Daily】

4. Du Xiaoman provides free rights protection services for users who have suffered from debt negotiation fraud

From January 2024, in order to fulfill corporate social responsibility and protect the rights and interests of consumers, Du Xiaoman will provide free rights protection services for users who have been illegally infringed by the black and gray industry of agent rights protection, including legal aid, valet reporting, valet litigation, etc., and help the infringed users recover the money of the black and gray industry fraud by their agent through a series of legal and compliant means, and the relevant travel expenses, lawyer fees and other expenses will be borne by Du Xiaoman. As of May 2024, Du Xiaoman has accepted the entrustment of more than 150 users, and the average loss amount of users who have successfully defended their rights is more than 4,000 yuan. 【Consumer Finance】