Tenpay, the Internet payment subsidiary of Chinese technology firm Tencent, and American Express have reached an agreement to jointly provide Internet payment services to Tenpay's overseas users who purchase goods from American Express vendors.

Chinese social networking website Renren.com has announced that it will launch an interest-free housing scheme, and employees can apply for loans of between CNY200,000 and CNY400,000.

The People's Bank of China has published a report saying that it has issued licenses for non-financial institutions to operate payment businesses to 27 companies, including Alipay.com.

Alipay.com, the Internet payment subsidiary of the Chinese e-commerce group Alibaba, has announced that it has launched a new convenient Internet payment service.

Rumors on the Internet revealed that the Chinese B2B e-commerce group Alibaba has set up a commercial bank subsidiary, which has gained the approvals of the People's Bank of China and China Banking Regulatory Commission.

The People's Bank of China's second generation Internet payment system, which is also know as the super online banking system, has been formally launched in Shenzhen, Tianjin, Beijing, and Guangzhou.

Chinese Internet shopping website Taobao.com has announced that it has cooperated with its sister company Alipay.com and Bank of China in the launch of a joint-brand credit card.

According to South Metropolitan Daily newspaper, the personal data of more than 1000 employees of IBM Shenzhen has been disclosed and used to apply for credit cards.

Alipay, the Internet payment subsidiary of the Chinese e-commerce group Alibaba, has announced that it will lift the limit on large credit card payments.

Bank of China and the Chinese B2B e-commerce group Alibaba have signed a comprehensive strategic cooperative agreement to jointly provide e-commerce value-added services to customers.

Chinese B2B e-commerce giant Alibaba plans to help Chinese small and medium enterprises gain CNY6 billion in loans from banks in 2009 to help them overcome the impact of the global financial crisis.

The People's Bank of China and the Ministry of Public Security of China jointly held a press conference on their special action to fight crimes involving bank cards.

Chinese online payment company 99Bill has launched an installment credit service — a first in China for e-payment services — to allow consumers to buy goods by paying in installments.

Chinese TV shopping company Acorn International (ATV) says quarterly net revenues were USD47.2 million, a decrease of 25.4% compared to USD63.3 million in the second quarter of 2007, as it announced its second quarter financial results for the three months ended June 30, 2008.

Formed by Chinese banks, securities institutions, e-commerce websites and domain name management and service organizations, the China Anti-phishing Website Alliance has been founded to fight phishing websites through better management of domain names and domain name servers.