People walk in front of the China Construction Bank branch in Shanghai in August 2020. The lender has decided not to proceed with a digital bond issue on blockchain without an explanation. Photo: EPA-EFE
China economy
China Construction Bank pulls US$3 billion blockchain debt programme amid scrutiny on fintech, financial risks
- Chinese lender has notified the Labuan regulator about its decision to stop the digital bond programme, Fusang Exchange says
- Decision came on the verge of financial breakthrough just as regulators started tightening oversight of fintech risks
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China economy
People walk in front of the China Construction Bank branch in Shanghai in August 2020. The lender has decided not to proceed with a digital bond issue on blockchain without an explanation. Photo: EPA-EFE