This report, the first in our Contemporary China: An Asia Pacific Foundation of Canada Research Series, explores the emergence and explosive development of the financial technologies (fintech) sector in China. It introduces the main fintech business models and the major players in each model in contemporary China.
Fintech firms in China have become a real threat to traditional financial institutions, causing job cuts and deposit outflows from banks. Fintech is also facing many challenges relating to regulation, security, risk management and trust. Looking to the future, this APF Canada report concludes that the bank 'dinosaurs' may still dominate the financial markets of tomorrow, but fintech will be operating right alongside them.
To read the other reports in our series, click the links below: