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 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
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

Business /  China Business

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

Topic |   China economy
Georgina Lee
Georgina Lee

Updated: 10:15pm, 23 Nov, 2020

Why you can trust SCMP
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 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
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
READ FULL ARTICLE