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China's OneConnect Financial, SBI Holdings set up fintech JV in Japan

OneConnect Financial Technology Co. Ltd. and SBI Holdings Inc. set up a joint venture, SBI OneConnect Japan, as the Chinese fintech company seeks to boost revenue from overseas markets in the next several years, The Nikkei reported Dec. 19.

SBI OneConnect Japan would offer cloud- and artificial intelligence-based software to Japanese regional banks that support marketing and risk management operations.

The Ping An Insurance (Group) Co. of China Ltd. unit made its trading debut on the New York Stock Exchange on Dec. 13.