Is China Unicom’s Entry Into Fintech Sign Of A Bubble?

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Fifteen years ago, some staid Chinese manufacturers got sexy by calling themselves Internet companies, and China Unicom's latest move into the very busy fintech sector harkens back to that era.

Chinese telecom operator China Unicom just held the opening ceremony for its financial company Unicom Group Finance Company Limited, and the China Banking Regulatory Commission Beijing Office issued a financial license to the company during the ceremony.

Unicom Group Finance Company Limited has registered capital of CNY3 billion. China Unicom's deputy general manager Li Fushen will be chairman of the financial company; China Unicom's general manager of financial department Li Zhangting is appointed vice chairman of the new company; and Wang Fang is appointed director and general manager of the company.

Li Fushen said at the opening ceremony that...

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