trending Market Intelligence /marketintelligence/en/news-insights/trending/8lk_FLEKqyeTGJGYA1t7lQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Xiaomi-backed online bank set to start operations soon

Street Talk - Ep. 64: Coronavirus jumpstarts digital adoption

Street Talk Podcast

Street Talk - Ep. 63: Deal talks continue amid bank M&A freeze, setting up for strong Q4

Street Talk Podcast

Street Talk - Ep. 62: 'Brutal' outlook for oil demand offers banks in oil patch no relief

Amid Q1 APAC Fintech Funding Slump, Payment Companies Drove Investments

Xiaomi-backed online bank set to start operations soon

A Xiaomi-backed online bank is expected to kick off operations soon after recently being rebranded with a new English name, Reuters reported Dec. 28, citing one of the bank's shareholders.

New Hope Group Co. Ltd., which owns a 30% stake in the bank, said the new bank has received regulatory and shareholder approvals for its new English name, Sichuan XW Bank. The bank initially received regulatory approval in June under the provisional name Sichuan Hope Bank.

The bank has a registered capital of 3 billion yuan and is the latest in a series of new online banks backed by Chinese tech firms.

Xiaomi subsidiary Sichuan Yinmi Technology Co. Ltd. owns slightly less than a 30% stake in the bank, while Chengdu Hongqi Chain Co. Ltd. owns a 15% stake.

A Xiaomi spokeswoman confirmed the official English name of the bank but declined to give details on the launch date.

As of Dec. 27, US$1 was equivalent to 6.95 Chinese yuan.