Fintech firms gain traction inside china


Source: hktdc.com hktdc.com

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Amid the COVID-19 pandemic, commentaries on finance have been peppered with the word “reset”, followed by an incredibly wide range of proposals as to what this “reset” may entail. One common theme has been that financial technology will play a key role in the sector going forward. Mainland China strongly emphasises fintech in its financial development plan, and the central People’s Bank of China is running three-year fintech development plans. The 2019-2021 plan has just finished and the bank is now moving into the 2022-2025 plan. The new plan seeks to further develop the mainland’s fintech sector and drive the...