To: Finance Section Editors / Reporters [For Immediate Release]
Credit China Fintech Took the Lead to Establish Asia FinTech Merger and Acquisition Fund of Funds with RMB 10 Billion in Value
To Nurture Leading FinTech Enterprises
(28 December 2016, Hong Kong) Credit China FinTech Holdings Limited ("Credit China FinTech" or the "Company", stock code: 8207) and its subsidiaries (the "Group") is pleased to announce it will jointly establish Asia's FinTech Merger and Acquisition Fund of Funds ("the Fund") with China Huarong International, Shanghai Xinhua Publishing Group, Jilin Province Investment Group and more in RMB 10 billion in value. The Fund will focus on mergers and acquisitions in FinTech area, and target to nurture leading enterprises in the industry.
Press Conference of the Fund was held on 27 December 2016 in Beijing
Mr. Yang Zaiping, Deputy Chief of the First Preparatory Group of Asia Banking Association and former Deputy Head of China Banking Association delivered opening speech at the press conference
Asia is now transforming into era of FinTech
China has become the international hub of FinTech. China has outperformed other Asia markets in the FinTech industry in terms of its development pace, complexity and scale, which makes China the market leader in this area. From July 2015 to June 2016, FinTech related investments in China surged by US 8.8 billion, up 252% from 2010. The growth of China's FinTech investment topped the global market. Comparing to mature markets such as the United States, Asia's Fintech market is still in infancy stage and suggests a higher return on investment.
Mr. Li Zhigang, Deputy Head of Beijing Municipal Bureau of Financial Work delivered speech
Mr. Sheng Jia, Executive Director of Credit China FinTech introduced the Fund
China's competitive edges and partnership advantages drive the launch of Asia's FinTech Merger and Acquisition Fund of Funds
In addition to the aforesaid state-owned enterprises and private enterprises, China Cultural Industry Association, New Times Trust Co., Ltd., Shenzhen China Create Group, N-Securities Co., Ltd., Beijing Yongyu Investment, Tianjing Borong and Juntong Capital are also partners of the Fund.
The guests and representatives from partnering institutions attended the establishment ceremony of the Fund
Mr. Sheng Jia, Executive Director of Credit China FinTech, said "Leveraging on the fund partners' experiences and competitive advantages in brand recognition, industry resources and expertise, the Fund aims to invest in innovative FinTech enterprises with potential and help them to be the FinTech leaders with our technical know-how and capital resources.
The guests and representatives from partnering institutions interacted with media in Q&A session
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About Credit China FinTech Holdings Limited (Stock code: 8207)
Credit China FinTech is a leading listed Fintech company in China, where the Company provides value-added services including online third-party payment, investment platforms as well as P2P asset origination platforms. Credit China FinTech has successfully built up a fully-integrated peer-to-peer supply chain and fintech ecosystem, providing highly efficient intelligent financial lifestyle services for SMEs and middle-class consumers via mobile internet.
Please subscribe to Credit China FinTech's HK wechat account to keep abreast of regular updates on the Group's business development.
Company website: www.creditchina.hk
Credit China FinTech's HK wechat account: creditchina8207
This press release is released by PR ASIA Consultants Limited, on behalf of Credit China FinTech Holdings Limited.
For more information or enquiries, please contact: Lorraine Lam / Dorothy Ying / Sadie Lo / Anna Liu
Tel: (852) 3183 0230 / 3183 0241 / 3183 0260 / 3183 0248
Fax: (852) 2583 9138
Credit China Holdings Limited published this content on 28 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 December 2016 04:22:04 UTC.