On March 28th, Ping An Bank launched escrow services specifically designed for Peer-to-Peer Lending and announced a formal intent of cooperation with HuaXia Finance.
At 9:00am, Ping An Bank held a live global conference and focused the discussion upon “Loan Deposit Security”. Both Jackie Liu, Director of the President’s Office, and Li Hai, Director of Financial Information Technology attended on behalf of HuaXia Finance.
”The premise of the meeting was to preemptively comply with additional regulations being introduced to the realm of Peer-to-Peer Microcredit Financing and Ping An announced a new network of “Safe and secure banking depository agreements...” by “...committing to provide network lending and custodial services for traditional banking institutions, non-traditional banks, and Internet Financial Service Platforms... We will provide a comprehensive package of services including liquidity management, payment, hosting, and exceptional service.”
This agreement between ourselves here at HuaXia Finance and Ping An Bank means that we can ensure Marketplace Lending compliance by utilizing additional legal supervision and lead the industry in developing a standardized approach to China’s adoption of microcredit financing, Internet financing, and Peer-to-Peer Lending. Through this partnership agreement, HuaXia Finance and Ping An Bank will design an advanced payment escrow system together.
(Left) Ping An Bank XinTianDi Branch Governor; Chen Xin. Ping An Bank Asset Management Division Director; Chen Zheng Tao. HuaXia Finance Director of the President’s Office; Jackie Liu. Director of Financial Information Technology; Li Hai.
A fundamental goal of the Ping An Bank and HuaXia Finance agreement is to promote the Chinese National Banking Credit System and further strengthen its ability to reliably affirm and correctly assign individualized credit scores.
Mr. Benny Li, Chairman and CEO of HuaXia Finance expressed his pleasure in formal cooperation with Ping An Bank and praised the promotion and further implementation of escrow treasury accounts to increase transparency and strengthen the industry as a whole.
