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China's Ant cuts credit limits for some young Huabei users

Huabei and Jiebei, two micro-loaning platforms of Ant Group, have launched a quota management function to advocate rational consumption. Users can not only actively adjust their quota on these two platforms, but also set consumption notifications. They will also receive relevant reminders once their accounts meet the quotas About 500 million people borrowed through Jiebei and Huabei in the 12 months through June 30, with outstanding loans of 2.15 trillion yuan. About 98% of the credits were either underwritten by partner financial institutions or securitized, according to Ant's prospectus China used to be a society that was reluctant to live beyond its means, but Jack Ma, founder of e-commerce giant Alibaba, seems to be changing that, at least that's the case for 500 million active users on Huabei and Jiebei, Alibaba's affiliated consumer lending units Huabei and Jiebei: A Loan Feast. For those that don't have ready cash to spend via Alipay, Ant operates services that dole out small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend)..

Ant Financial: A Victim of Its Success, Or Are Chinese

  1. Most importantly, online lending platforms such as Huabei and Jiebei will now have to contribute 30% of funding for loans they offer to consumers. It is a huge demand
  2. As part of the plan, the company stated that lending services Jiebei and Huabei will be reorganized under a regulated consumer finance company. Expansion outside Asia. Driven by the growing numbers of Chinese tourists around the world, Ant Group has sought to expand its services into Europe and the United States
  3. The names of two of Alipay's popular credit functions, Huabei and Jiebei, are jaunty invitations to spend and borrow. Huang Ling, 22, started using Huabei when she was in high school. At the.
  4. The firm's CreditTech business, which includes Huabei and Jiebei, is its single biggest revenue maker, contributing 39% of the total in the first six months of the year
  5. The loans were previously offered via the Huabei and Jiebei products. Now Ant will be required to clearly label which financial institution is giving the loan, an unnamed CBRIC official told the.
China’s Ant cuts credit limits for some young Huabei users

Ant Group's Consumer Finance Company Grabs Approval from

  1. In line with a rectification plan, Ant Group shall complete the brand rectification work for Huabei and Jiebei, which are two credit subsidiaries offering lending services to consumers, within six months of the opening of the Ant Consumer Finance, the official said. The two micro-credit firms will exit the market within the one-year.
  2. This impacted Ant Financial's Huabei and Jiebei online microloan services, since the company could no longer continue to make loans and move them off balance sheet into asset backed securities
  3. Ant was responsible for arranging about one-tenth of China's consumer lending last year via two products: Huabei, which is similar to a credit card; and Jiebei, which offers small unsecured.
  4. Ant Group is the biggest online consumer credit platform in China through Huabei and Jiebei, which offer unsecured loans. Online lending was the single biggest contributor to Ant Group's revenue.
  5. Ant's Huabei and Jiebei credit arms, which previously offered the loans that Ant issued, will also fall under this new company along with its online lending operations
  6. About 500m users borrowed from Huabei and Jiebei in the year to June 30; the average Huabei outstanding balance was about Rmb2,000 ($295) at June 30..

Much of the funding for loans offered through Ant's Huabei and Jiebei products — they translate to just spend and just borrow — is spread across about 100 banks Ant Group managed to scale up its microloan business relatively quickly with Huabei and Jiebei through selling asset-backed securities, pools of loans that are packaged and sold to investors, and by partnering with financial institutions to issue joint loans. At the end of June the outstanding consumer credit balance enabled through Ant Group. Huabei operates like a virtual credit card and Jiebei is a short-term consumer loan provider. Based in the southwestern city of Chongqing, the two lucrative businesses contributed about 40% of the group's 72.5 billion yuan ($11.1 billion) revenue in the first half of 2020 Huabei and Jiebei: A Loan Feast For those that don't have ready cash to spend via Alipay, Ant operates services that dole out small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend). The former focuses on quick consumer loans for purchases of iPhones and fridges, while the latter finances anything from travel to education He said that Meituan Jieqian, Alipay via Huabei and Jiebei, and even Xiaomi Finance advertised online loan services to him. Post-graduate student Qiao, 24 years old, found on Thursday that she could still borrow RMB 5,000 at Huabei to pay for goods bought on Alibaba's Taobao, and RMB 16,000 from Meituan as a direct cash loan, at a time when.

Weekly newsletter The official said Ant had six months from the opening of the consumer finance unit to complete the rectification of Jiebei and Huabei. Ant said it would work with the other shareholders of the new consumer finance unit to serve the needs of consumers and continue enhancing the quality of financial services and. Huabei, which means just spend, functions like a virtual credit card that people can use to make purchases online and in stores. Jiebei, which means just borrow, provides borrowers with unsecured loans of up to 12 months that are typically repaid in installments But under new draft rules published by China's central bank in November, Huabei and Jiebei would have to limit their operations to Chongqing unless they obtain new national licences - a.

Its Huabei unit offers revolving credit lines for Alipay users who need spare cash. Customers borrow, on average, 700 yuan each month. Meanwhile, Jiebei, Ant Financial's short-term consumer. Chongqing ant Consumer Finance Co., Ltd. was approved to open. The relevant person in charge of the non banking department of the CIRC said that according to the rectification plan, ant group should complete the rectification work of Huabei and jiebei brands within six months after the opening of ant consumer finance company. After the rectification, Huabei and jiebei will become the.

Huabei and Jiebei Uncategorized . Ant Group helps Shanghai become Global Financial Capitol. November 2, 2020 November 3, 2020 daniel Ant Group, Ant Group helps Shanghai become Global Financial Capitol, China is Number One Get Used to It America, Coronavirus Defeats America, How Ant Group Makes Money, How Much Money does Ant Group Make. Which interest is higher, Huabei or jiebei? 2018 calculation method of jiebei interest. Ant flower interest. Users use Huabei to pay for goods purchased on Taobao and repay the goods before the 10th of the next month after confirming the receipt. During this period, Huabei does not charge the user's interest Huabei is provided by Chongqing Ant Small & Micro Loan Co; Jiebei is offered through Chongqing Ant Shangcheng Micro Loan Co. During the 12 months ended June 2020, Ant Group reported credit balances for about 500 million users, according to documents filed with the Shanghai and Hong Kong stock exchanges

Ant Group's Micro-Lending Platforms Adjust Quota

Launched in 2015, Huabei and Jiebei were used by 500 million people in the year before June 30, 2020, according to Ant's IPO prospectus. A 2019 report by marketing research firm Nielsen found. Jiebei and Huabei are currently embedded within Alipay and rely on the mobile payment app for user traffic. Any de-link would reduce users of the credit products and potentially affect Ant's loan. Alibaba's Ant Financial has launched Huabei and Jiebei, another online lending service that offers cash loans to individuals. JD's Baitiao service allows customers to pay for purchases from the site in installments, while the Tencent-backed WeBank offers Weilidai, a micro-lending service through its WeChat mobile payment platform. Huabei and Jiebei are like fake money, Wang said, comparing them to Q coins, a game currency in the Chinese chatting app QQ. You just spend it without realizing. Last June, Wang lost her job. She had 40,000 renminbi — about $6,100 — in debt and no income for several months. She took out new loans to pay old loans

Previously in Part 3, we provided an overview of the Chinese SMB credit market and discussed the factors that led Ant to succeed and become an industry leader in small business lending.Now in Part 4 of the Ant series, we give a walkthrough of China's consumer credit market, in addition to explaining how and why Ant's CreditTech platform, through the Huabei and Jiebei products, have been. Jiebei and Huabei are currently embedded within Alipay, and rely on the mobile payment app for user traffic. Any de-linking would reduce users of the credit products, and potentially affect Ant's loan quality if access to Alipay data was somehow limited or affected The ban is another blow to online microlending platforms, including Ant Group Co. Ltd.'s Huabei and Jiebei. Since November, a series of rules have imposed more restrictions on the previously lightly regulated sector and led to the abrupt suspension of Ant's $35 billion initial public offering Analysts said they expect Ant may have to change the way it raises money to fund Huabei and Jiebei, crimping expansion in the short term. The new rules could slash Ant's annual profits on credit.

Banks supplied 98% of the funding for some 1.7 trillion yuan in consumer loans facilitated mainly via Ant's Huabei and Jiebei services, while Ant itself accounted for the remaining 2% The operation folds in its two most well-known consumer lending businesses, Huabei and Jiebei. The unit will need to provide 30% of funding for all co-loans, based on rules released earlier this year. At 10 times leverage of its registered capital, that means its total amount of joint loans will be capped at 266 billion yuan..

Ant Group Cleared to Sell $3 Billion of Asset-Backed

It has been promoting the buy now, pay later service Huabei when users are close to completing a transaction. Alibaba holds a 33% stake in Ant. The move is aimed at breaking the absolute monopoly of Alipay, Tsinghua's Tian said, predicting that the scale and growth momentum of Huabei and Jiebei, which account for about 40% of Ant. Huabei, which means just spend, functions like a virtual credit card that people can use to make purchases online and in stores. Jiebei, which means just borrow, provides borrowers with unsecured loans of up to 12 months that are typically repaid in installments Ant must complete the branding restructuring of Huabei and Jiebei within 6 months after its consumer finance firm starts to operate, the Chinese business newspaper 21st Century Business Herald.

Are fintech's easy loans luring youngsters into

Huabei and Jiebei: A Loan Feast For those that don't have ready cash to spend via Alipay, Ant operates services that dole out small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend) According to the China state regulators definitions of financial institutions, Ant Group's most profitable quasi-financial institutions—Alipay, Huabei, and Jiebei—are out of place. And finding an appropriate definition for these businesses for them to be recognized by China's financial management department is a major factor affecting.

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As IPO Looms, All You Need to Know About Jack Ma's Ant Grou

Ant's consumer lending platforms Huabei and Jiebei saw their respective Rmb8bn and Rmb10bn ABS plans terminated, according to Tuesday updates on the Shanghai bourse's website Huabei, a credit function in Alipay, is no different from a credit card issued by a bank, Mr. Guo wrote. And Jiebei, an Alipay loan feature, is no different from a bank loan. Ant has called Huabei. Huabei and Jiebei: a loan feast For those who have no cash ready to spend through Alipay, Ant offers services that distribute small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend). The former focuses on quick consumer loans for purchasing iPhones and refrigerators, while the latter funds everything from travel to education Ant's Huabei product, similar to a credit card, and Jiebei, a type of unsecured consumer loan product, have become the most popular way among consumers to access credit in less than five years To explain, Huabei and Jiebei allow ordinary people to shop around for bank loans while the Cash App and Robin allow people to invest in dangerous and experimental derivative products such as cryptocurrencies. For example, Square Inc. (NYSE: SQ) claims its Cash App generated $875 million in Bitcoin (BTC) revenue in 2nd Quarter 2020

Jack Ma told China's youth to spend, borrow

Ant's credit operations Huabei and Jiebei will also be housed within the consumer finance company. These are crucial for the organisation and were previously major revenue drivers. Any loans via the Huabei and Jiebei brand will need to be partly underwritten by Ant's consumer finance company It combines the company's most lucrative online lending operations, Huabei and Jiebei, after a regulatory clampdown. Ant, China's largest provider of online consumer loans, put 4 billion yuan into the consumer unit, giving it a 50% stake Jiebei and Huabei are currently embedded within Alipay and rely on the mobile payment app for user traffic. Any de-link would reduce users of the credit products and potentially affect Ant's loan quality if data access to Alipay would somehow be limited or affected, the Hong Kong-based analyst said Consumer loan providers Jiebei and Huabei are in fact the money trees of Ant Group and even the entire Alibaba Group. In the earlier half of 2020, these micro-lending platforms generated 28.586 billion RMB in income for the group, accounting for 39.41% of total revenue

Huabei, founded in 2014, is an unsecured revolving consumer credit facility for small daily expenditures. It has a 20RMB minimum with 3-12 month terms. Jiebei, founded in 2015, has a 1000RMB minimum and is for those with a successful credit history under Huabei Guo Wuping, head of the consumer protection division at CBIRC said in a commentary on Monday that the rights of users of Ant-owned consumer loan companies Huabei and Jiebei deserve close scrutiny Huabei and Jiebei: A loan feast. For those that dont have ready cash to spend via Alipay, Ant operates services that dole out small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend). The.

Ant Group - Wikipedi

Based on the balance of Huabei and Jiebei loans as of the end of the first half of 2020 revealed in its prospectus, which was 1.7 trillion yuan ($266 billion), Ant's consumer finance firm needs to have at least 51 billion yuan (8 billion) of capital, Yuan said Huabei and Jiebei: Loan feast. For those that don't have ready cash to spend via Alipay, Ant operates services that dole out small unsecured loans: Huabei (Just Spend) and Jiebei (Just Lend). The former focuses on quick consumer loans for purchases of iPhones and fridges, while the latter finances anything from travel to education The restructuring of Jack Ma's financial conglomerate that was subsequently ordered by China's central bank included separating out Ant's two money-spinning consumer lending businesses, Huabei and Jiebei, from its ubiquitous Alipay payments network

It sold 70 deals via Huabei and Jiebei last year, raising Rmb130bn, versus Rmb163bn in 2019, according to Wind. Over the years, Ant has sold more than Rmb796bn of ABS. Take in stride They also want the company to sever ties between Alipay and its consumer lending services, such as Jiebei — its consumer credit loan service, and Huabei, its virtual credit card product Ant plans to retain its two most important brands for online lending -- Huabei and Jiebei -- though only for loans underpinned by capital from the consumer finance firm or co-funded by banks, according to a person familiar with the matter. Loans solely provided by banks but distributed via Ant's platform can't use the brand names, the. The company will be allowed to issue personal loans and bonds, borrow domestically, sell insurance and also enable business operations for Alibaba's two credit subsidiaries, Huabei and Jiebei. The implications of the structure are that Ant Group will have to label which financial institution gave the loan and any Huabei and Jiebei loan will. HuabeiやJiebeiはAlipayから切り離された後、すべてはアント消費者金融会社に帰属されます。この会社は南洋商業銀行、国泰世華銀行等で共同で出資するものです。アントグループは40億元(665億円相当)を出資し、株式の50%を保有し、筆頭株主となっています

Both Jiebei and Huabei will be incorporated into consumer finance companies to carry out consumer finance business in accordance with laws and regulations. Protection of consumer rights and interests and financial consumer suitability management will be strengthened. # alibaba # jiebei # huabei # antgroup # china # jackma # stock A Levels, Vocational & Technical courses & Apprenticeships. courses for age 16-18 & Adults. New Beginnings, New College - Secure your Future at Richmond upon Thames colleg Two asset-backed securitisation (ABS) projects under. You need to log in or purchase a subscription to view the full content for this page Two asset-backed securitization (ABS) projects under Ant Group's Huabei (Ant Check Later) and Jiebei, with respective sizes of RMB10 billion and RMB8 billion, were terminated according to SSE's. Huabei and Jiebei have been included in the consumer finance company, which means enhanced compliance and more constraints, the director said

Ant Challenged Beijing and Prospered

  1. ating the Chinese loan market. When it comes to the
  2. However, Alipay, Huabei, and Jiebei as quasi-financial institutions do not belong to the five types of financial institutions listed above. How to define other institutions recognized by the financial management department has become a major factor affecting the future of Ant Group
  3. It will hold Ant credit services Huabei and Jiebei, which have been used by almost half a billion people in China. Ant, a mobile-payments company controlled by billionaire Jack Ma,.
  4. Ant's personal-lending services Huabei and Jiebei -- meaning just spend and just borrow -- were used by about half a billion Chinese citizens in the 12 months to June alone. Most of the.
  5. Ant's Huabei product, similar to a credit card, and Jiebei, a type of unsecured consumer loan product, have become the most popular way among consumers to access credit in less than five years. About 500 million people borrowed through these products in the 12 months through June 30
  6. Authorities now require Ant to cut off any improper linking of payments with other financial products including its Jiebei and Huabei lending services. Ant said it will fold those units into its.
China Bans Micro Lenders From Targeting College Students

Ant has two lucrative micro-lending businesses: Huabei, which operates like a virtual credit card, and Jiebei, a short-term consumer loan provider. Both based in the southwestern city of Chongqing. Ant's microlending has grown remarkably fast. Launched in 2015, Huabei and Jiebei were used by 500 million people in the year before June 30, 2020, according to Ant's IPO prospectus. A 2019 report by marketing research firm Nielsen found that 86.6% of Chinese consumers ages 18-29 were using credit products Chongqing Ant Consumer Finance Co., in which the Alibaba Group Holding Ltd. affiliate will own a 50% equity stake, plans to absorb Jiebei and Huabei, Ant's popular microlending operations that otherwise wouldn't be allowed to operate nationally due to regulatory concerns on leverage and lending risks The PBoC said that under a comprehensive and feasible restructuring plan Ant Group would cut the improper linkage with payments services including AliPay, Jiebei, and Huabei, said the.

Ahead of Ant Group's mega IPO, here's what you should know

Ant helped provide small unsecured loans to about 500 million people over the past year through two platforms: Huabei (Just Spend) and Jiebei (Just Lend). The former focuses on quick consumer. Huabei was like a credit card, and Jiebei was like getting a small loan. You already know payments is the second largest revenue stream these three other products give us the first and third place revenue streams for Ant. The biggest is CreditTech, at 40%, which Huabei and Jiebei fall under

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China approves Jack Ma's Ant Group to operate consumer

Huabei and Jiebei are like fake money, said Eva Wang, 23, who soon found herself deeply in debt. You just spend it without realizing. OUR MUST-READS FROM THE WEEKEN Two Brands Ant plans to retain its two most important brands for online lending - Huabei and Jiebei - though only for loans underpinned by capital from the consumer finance firm or co-funded by. The consumer finance company will also house Ant's credit businesses Huabei and Jiebei. These are critical for the company and previously big drivers of revenue . In November, Ant Group, which is controlled by billionaire Jack Ma, was set to carry out a record-breaking $34.5 billion initial public offering in Shanghai and Hong Kong

China's Ant Group gets approval to set up consumer finance

1 Relationship balance is defined as the sum of the average balance of Yu'E Bao, Huabei, Jiebei, and annualized insurance premium during January to June 2019 Ant Group Huabei & Jiebei Front-End Team. RichLab - 荔枝实验室™️ has 5 repositories available. Follow their code on GitHub Its consumer-lending services, Huabei and Jiebei, have supplied credit to many free-spending young people in China who don't qualify for bank-issued credit cards. To Read the Full Stor China's Ant Group is lowering borrowing limits for some young users of its Huabei virtual credit card product, the company said on Wednesday, a month after China suspended the fintech giant's $37 billion public listing plan. The credit limit reduction is intended to promote more rational spending habits among users, Ant added in a text message to R

How Will Ant Financial, China's Fintech Giant, Be Impacted

Huabei helps me stagger through and survive until the day money comes. Ant's microlending has grown remarkably fast. Launched in 2015, Huabei and Jiebei were used by 500 million people in the year before June 30, 2020, according to Ant's IPO prospectus Citing a regulator at the CBIRC, the Chinese news outlet 21st Century Business reported on Thursday that Ant has to complete the branding restructuring of Huabei and Jiebei within 6 months after its consumer finance firm starts to operate. Ant will hold a 50% stake in the new entity and contribute 4 billion Chinese yuan ($625.93 million) in. Ant, which can be controlled by Alibaba founder Jack Ma, has two credit subsidiaries, Huabei and short-term consumer loan provider Jiebei, which have been used by around 500 million people in the 12 months to June 30, Ant said in its IPO prospectus Meanwhile, sister firm Alibaba was recently hit with a $2.8 billion antitrust fine and Ant has been forced to restructure as a financial holding company. Plus, restrictions have been imposed on its buy-now-pay-later solution Huabei and the Jiebei lending platform The unit will also house Ant's revenue-driving credit businesses Huabei and Jiebei. See Also: Ant Troubles Not Over? Jack Ma's Relations With Regulators Said To Be Under Beijing Scrutiny

Jack Ma's Ant forced into arms of banks he once dubbed

  1. e both have a quota of tens of thousands of yuan. I often use Huabei as a payment because it seems that it is a priority of paying, but I have never been overdue because it is automatically deducted every month
  2. The names of two of Alipay's popular credit functions, Huabei and Jiebei, are jaunty invitations to spend and borrow. Huang Ling, 22, started using Huabei when she was in high school. At the time, she didn't qualify for a credit card. With Huabei's help, she bought a drone, a scooter, a laptop and more. The credit line made her feel rich
  3. This gives the digital bank a lot of operating leverage. In just three years, WeBank's cost-to-income ratio fell to 35% from 54%. Cost per account is only 3.60 yuan (55 cents), versus 20 yuan at.
  4. Perusahaan baru ini akan menampung dua unit bisnis yang selama ini mengoperasikan layanan pinjaman Ant Group yakni Huabei dan Jiebei. Entitas baru ini akan terdaftar dengan total modal sebesar 8 miliar yuan atau US$ 1,24 miliar (Rp 17,9 triliun). Ant Group akan memegang 50% saham dan menyumbangkan 4 miliar yuan atau US$ 684 juta (Rp 8,9 triliun)
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