The Economist reports about the fintech revolution in China. By just about any measure of size, China is the world’s leader in fintech (short for “financial technology”, and referring here to internet-based banking and investment). It is far and away the biggest market for digital payments, accounting for nearly half of the global total. It is dominant in online lending, occupying three-quarters of the global market. A ranking of the world’s most innovative fintech firms gave Chinese companies four of the top five slots last year. The largest Chinese fintech company, Ant Financial, has been valued at about bn, on a par with UBS, Switzerland’s biggest bank.
Topics:
Dirk Niepelt considers the following as important: China, Fintech, Notes
This could be interesting, too:
Marc Chandler writes Yen Retreats, while Stronger EMU GDP Underscores Nascent Recovery and Lifts the Euro
Dirk Niepelt writes Budgetary Effects of Ageing and Climate Policies in Switzerland
Marc Chandler writes Dollar Consolidates but Adjustment is Not Over
Marc Chandler writes US CPI, New Security Initiatives with Tokyo and Manila, Bank of Canada Meeting
The Economist reports about the fintech revolution in China.
By just about any measure of size, China is the world’s leader in fintech (short for “financial technology”, and referring here to internet-based banking and investment). It is far and away the biggest market for digital payments, accounting for nearly half of the global total. It is dominant in online lending, occupying three-quarters of the global market. A ranking of the world’s most innovative fintech firms gave Chinese companies four of the top five slots last year. The largest Chinese fintech company, Ant Financial, has been valued at about $60bn, on a par with UBS, Switzerland’s biggest bank.