In today’s talking points: Airbnb to make changes to their business in China; Sapien invests $1.5 million AUD in Australian start up; Managed assets by trust company climb to 20 trillion yuan.
Airbnb to make changes to their business in China
Airbnb are making changes when doing business in China. The company has changed its name to “Aibiying” which means “Welcome each other with love” as well as introducing a new platform in Shanghai. Airbnb’s customers in China are young, 80 percent of them are under 35. This percentage is higher in China than in any other nation making China a challenging new experience for Airbnb. Recently another US company Uber has stuggled in China, but this hasn’t stopped Airbnb. At this stage, Airbnb’s China operations are only a very small portion of their worldwide business. Airbnb Chief Executive mentioned that he wished to team up with cities to maximise the benefits of homes haring. Airbnb are trying to adapt to local market by offering customer service in Mandarin, as well as making their services compatiable with local payment methods such as Alipay and Weixin.
Read more at CNBC
Sapien invests $1.5 million AUD in Australian start up
Sapien – an international venture capital firm has invested $1.5 million in fintech startup Investfit. The Australian based start up uses ‘sophisticaled predictive analysis ‘ to calculate an indivual’s financial future. This is targeted to financial planners and advisors, as well as the average consumer who does not readily have access to professional financial services. Through this technology Australians are able to make more informed decisions regarding their financial future, according to Ed de Salis, Investfit’s cofounder. The $1.5 million is going to be used to build up their market in Australia as well as expansion to U.S. to Asia.
Read more at Business Insider
Managed Assets by Trust Company Climb to 20 Trillion Yuan
Motivated by a channel of businesses who would not have loans, this trust service operates as a fundraising tool in accordance to Yang Qiaoling and Chen Na of Caixin Global, that trust corporations have grossed 20 trillion yaun ($2.9 trillion) in 2016. There has been an emphasis on an industry increase of 11.3% to reach 20.22 trillion yuan, from September alone, as released by the China Trustee Association. As opposed to borrowing direct from the banks China’s has succeeded in taking a comprehensive approach employing a channel which companies can get loans across the financial sector, a consideration not yet utilised by Western financial systems. This system especially supports product developers with a bypass when facing borrowing restrictions from banks. It has been voice by Xing Cheng, executive director of trust and research group at Renmin University of China in Beijing, a multi-layered risk-prevention and control system has been established across China’s trust industry so that 0.58% so the non-performance runs smoothly. Firms must diminish low-quality trust services that aren’t meeting standards, Deng Zhiyi, director of the CBRC trust department.
Read more at caixinglobal