PPDai to invest in research institute

Updated 2018-01-19 09:53:03

PPDai, China's first online P2P (peer-to-peer) lending platform listed in the US market, said yesterday that it will invest 1 billion yuan (6 million) within three years to set up a new research institute.

The money invested in the new PPDai Smart Finance Institute will be used to fund artificial intelligence, blockchain, finance cloud and Big Data sectors, said Zhang Jun, co-founder and chief executive of Shanghai-based PPDai.

"It's the first company to invest more than the '1 billion yuan' line in the P2P industry to develop intelligent and secure online finance services in China," Zhang said.

PPDai, which launched an initial public offering in New York in November, has also formed a consultant team consisting of executives and researchers from FICO and CalTech. It is also cooperating on AI with research institutes under the Ministry of Industry and Information Technology, Zhejiang University and the National University of Singapore.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58March 24 2018 23:45:34

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16March 24 2018 23:45:34

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18March 24 2018 23:45:34

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords