/PRNewswire/ Challenges in the global macroeconomic and political climate have not deterred HIKE Capital, a leading founders fund in China, from continuing.
China: WeiyangX Fintech Review
Police in Changsha Receive Salaries in the Form of Digital RMB
At present, digital RMB pilots have been conducted in various applications across China. On May 8
th, employers at the Kaifu branch of Changsha Municipal Public Security Bureau received their salaries in the form of digital RMB. This is the first time that digital RMB has been used for salary payment in the government agencies of Changsha. In fact, from January 2021, Chinese tech giant JD has already started to conduct a digital RMB salary payment pilot. JD employers based in Shanghai, Shenzhen, Chengdu, Changsha, and Xi’an joined the first batch to experience the innovative payment mechanism. (
The Chinese insurance marketplace uses AI to match consumers with suitable coverage options.
And its digital-first solution can help bridge China s insurance gap, especially since the life and health insurance market is set to grow.
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Yuanbao raised nearly 1 billion yuan ($144.9 million) in a Series C funding round that was led by Source Code Capital and included Cathay Capital and Hike Capital,
per Deal Street Asia. Chinese insurtech raises mega-round. Insider Intelligence
The insurtech only launched last year and holds a national insurance brokerage license. It operates as a marketplace, selling coverage options from third-party insurers. It will use the fresh capital to fund the R&D of its core technologies and build smart insurance services.
Chinese insurtech raises mega-round for marketplace offering
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Yuanbao raised nearly 1 billion yuan ($144.9 million) in a Series C funding round that was led by Source Code Capital and included Cathay Capital and Hike Capital,
per Deal Street Asia. The insurtech only launched last year and holds a national insurance brokerage license. It operates as a marketplace, selling coverage options from third-party insurers. It will use the fresh capital to fund the R&D of its core technologies and build smart insurance services.
Despite its recent launch, Yuanbao has already onboarded millions of users with the help of its network of third-party insurers. Yuanbao has teamed up with domestic insurers including Huaxia Life Insurance, China Life Insurance, Sunshine Insurance, and People’s Insurance Company of China. It uses AI to help consumers find the insurance products that meet their needs, enabling users to access policies all in one place. Additionally, Yuanbao offers