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|Gabriela Dabrowski (R) of Canada and Xu Yifan of China celebrate during the doubles second round match against Nicole Melichar of the United States and Anna Smith of Britain at 2017 WTA Wuhan Open in Wuhan Wholesale Tyler Zeller Jersey , capital of central China's Hubei Province, on Sept. 27, 2017. Gabriela Dabrowski and Xu Yifan won 2-1. (XinhuaOu Dongqu)
Modern manufacturing, transport help six Chinese provinces develop fast
A look at Kantuman Bazaar in China's Xinjiang
Scenery of terraced fields in Houyuan Village, China's Fujian
Scenery of high-speed rail networks in south China's Guangxi
In pics: paddy fields across China
Autumn scenery of Kanas scenic area in NW China's Xinjiang
10th Pink Ribbon Charity Walk held in Switzerland
Chinese Wholesale Kelly Olynyk Jersey , Pakistani air forces conduct joint drill
by Yoo Seungki
SEOUL, Jan. 27 (Xinhua) -- South Korea will push a convergence between finance and information technology (IT) to make it convenient for consumers to purchase products online via mobile settlement tools and foster "FinTech" industry as new growth engine, the country's financial regulator said Tuesday.
The Financial Services Commission (FSC) said in a statement that it will make a "paradigm shift" in regulations on mobile transactions to allow banks to apply new technologies to financial services while making it easier for tech firms to offer more digitized financial services.
The comprehensive deregulation came eight years after the country introduced an electronic finance transactions act, which has tightly controlled mobile transactions and blocked the entrance of IT firms into financial industry.
Demand for deregulations has been mounting as global IT companies, including Alibaba Group and iPhone maker Apple Wholesale Gerald Green Jersey , already speeded up entrance into the FinTech market.
The FinTech is a new jargon combining finance and technology, referring to new financial services through mobile devices, such as money transfer and payment and settlement with smartphones.
President Park Geun-hye instructed regulatory officials in March 2014 to deregulate the finance industry to enable foreign customers to purchase coats online, which were worn by a heroine starring in the smash-hit South Korean TV series, "My Love from the Star."
The soap opera gained popularity in Asia Wholesale James Young Jersey , especially in China, and stirred up demand for the heroine coats. Some customers living abroad were unable to access South Korean online stores for Active X, a software framework that prevented Chinese customers from reaching out to online shops.
President Park asked government officials in July again to develop convenient mobile settlement services such as Alibaba's Alipay and eBay's PayPal, both of which provide an online payment service to transfer money and buy products from online stores.
South Korea's mobile settlement more than doubled from 1.35 trillion won (1.25 billion U.S. dollars) in the second quarter of 2013 to 3.19 trillion won a year later. Global settlement with mobile devices is estimated to surge from 353 billion U.S. dollars in 2014 to 721 billion dollars in 2017, according to U.S. IT research and advisory firm Gartner.
To lower barriers to the Fintech market Wholesale Jonas Jerebko Jersey , the FSC will transform a regulatory frame from a pre-inspection to a post-responsibility system. Instead of removing requirements for financial companies to win a regulatory approval for new services, the companies will take greater responsibility for security incidents to induce them to secure more advanced security programs by themselves.
Abolishing requirements to use publicly certified platforms for identification is expected to commercialize various identification programs, such as fingerprint or iris verification through wearable devices.
The regulator also plans to design a model for Korea-style " Internet Bank" by June. If the Internet Bank is allowed, people can open a bank account online to settle transactions and transfer money "without visiting bank branches in person." Identification process will also be made online.
MOSCOW, Oct. 4 (Xinhua) -- The leader of the al-Qaida-linked Nusra Front was serious injured and the group's 12 field commanders were killed in a Russian airstrike in Syria Wholesale Isaiah Thomas Jersey , Russia's Defence Ministry said Wednesday.
"As a result of the strike, the Nusra Front leader, Abu Mohammad al-Golani, sustained multiple heavy wounds and, having lost his hand Wholesale Avery Bradley Jersey , is in a critical condition, according to several independent sources," defence ministry spokesman Igor Konashekov was quoted by Sputnik as saying.
BEIJING, Oct. 9 (Xinhua) -- China and Britain on Monday reaffirmed their commitment to a "golden era" of bilateral ties.
Chinese State Councilor Yang Jiechi and Mark Sedwill, national security advisor to the British prime minister made the remarks during their meeting in Beijing.
Yang said the upcoming 19th National Congress of the Communist Party of China(CPC) will inject new impetus into relations with other countries.
The international community will pay close attention to the 19th CPC National Congress Wholesale Al Horford Jersey , Sedwill said, and expressed his good wishes.
The two exchanged views on the situation on the Korean Peninsula.
NAIROBI, July 5 (Xinhua) -- The Kenya shilling depreciated 1.1 percent against the U.S. dollar in the first half of 2017 to close at 103.7 at the end of June.
The drop was mainly due to heightened dollar demand from importers as the shilling had ended 2016 at 102.5.
The shilling remains under pressure currently, dropping against the dollar and world major currencies like the British Pound.
On Wednesday, the apex bank quoted the currency at 103.81 to the dollar in early morning trading Wholesale Gordon Hayward Jersey , which was a slight drop from Tuesday's level.
The shilling had on Tuesda.