China's Fintech Market - China Special Economic Reports
China's Fintech Market is a special reports produced by the China Economic Network providing a technical and in depth analysis on China economic issues of interest.
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China’s fintech market has surged on the back of a booming internet finance sector, with online payments, lending, and sales of investment products leading the way. China’s tech giants (Baidu,Alibaba, Tencent) dominate the market, with start-ups so far most successful in online lending (P2P). A strong internet finance sector is vital to serving the needs of SMEs and households long ignored by the traditional sector. However, weak regulation has created consumer and stability risks. A new system instituted in 2015 divides responsibility between the PBOC, CBRC, CSRC, and CIRC,though the central bank lead a recent crackdown on illicit activity.
There is substantial room for growth in the wider China fintech sector including insurance, crowdfunding, data analytics and online banking. UK innovation and regulatory expertise is highly prized in China creating opportunities for further commercial and policy collaboration.
China Economics Network
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