Financial technology-or fintech-is gaining in popularity globally as a way of making financial services more efficient and accessible. In rapidly developing China, fintech is taking off, catering to markets that state-owned banks and an undersized financial sector do not serve amid a backdrop of growing consumption and a large, tech-savvy millennial generation. It is becoming increasingly likely that some of China's fintech firms will change the way the world does business.
In China's Fintech Explosion, Sara Hsu and Jianjun Li explore the transformative potential of China's financial-technology industry, describing the risks and rewards for participants as well as the impact on consumers. They cover fintech's many subsectors, such as digital payment systems, peer-to-peer lending and crowdfunding, credit card issuance and internet banks, blockchain finance and virtual currencies, and online insurance. The book highlights the disruption of traditional banking as well as the risks of fintech and regulatory technology. Hsu and Li describe major companies including Alipay and Tencent, developer of WeChat Pay and a wealth-management business, and other leading fintech firms such as Creditease, Zhong An Insurance, and JD Finance. Offering expert analysis of market potential, risks, and competition, as well as case studies of firms and consumer behavior, China's Fintech Explosion is a must-read for anyone interested in one of the world's breakout sectors.
Industry Reviews
China has emerged as a leader in the global fintech industry, but there has been limited insight into this development. This book provides a wonderful summary of China's fintech development, covering topics such as digital payment systems, peer-to-peer lending, and online consumer credit. From this book, we can understand how these emerging fintech businesses are changing the way Chinese consumers pay, borrow, and invest, and we receive a roadmap for the future of China's fintech industry. -- Bohui Zhang, executive associate dean and presidential chair professor, Chinese University of Hong Kong, Shenzhen
Fintech started in the West, but to fully understand its adoption and innovation one must look East. This book does precisely that. It is an informative and comprehensive guide to the fast-moving area of fintech in China. This book goes beyond the techno-provision of credit to the underfunded and covers all areas of fintech, neatly blending contemporary information with analysis, case study, and research review. It is a must-read for the scholar and the student as well as those who wish to understand fintech in China. -- Kent Matthews, Sir Julian Hodge Professor of Banking and Finance, Cardiff Business School, Wales, and Nottingham University Business School Ningbo, China
While most writing on fintech takes a vertical approach to the field, this book's integrative approach will become more valuable as point-solution start-ups begin to build the more multifaceted solutions long offered by incumbent financial-services firms. It is also accessible to anyone looking to gain a better understanding of the current state of affairs of fintech in China-certainly a good text for fintech courses in undergraduate and graduate programs. -- Drew David Pascarella, associate dean for MBA Programs and founder of the Fintech Intensive, Samuel Curtis Johnson Graduate School of Management, Cornell University
The book is recommended for scholars who are interested in China's fintech industry and modern banking sector, the Chinese economy, Chinese technological innovations, and the rise of global financial technology, especially those whose access to relevant information is limited to non-Chinese sources. * China Information *
