China’s Fintech Explosion: Disruption, Innovation, and Survival

Financial technology – aka fintech – is gaining in popularity globally as a way to improve the efficiency and accessibility of financial services. Fintech is taking off in China, catering to markets that state-owned banks and the undersized financial sector do not serve amid a backdrop of growing consumption and a large, tech-savvy millennial generation.

In China’s Fintech Explosion, Sara Hsu and Jianjun Li explore the transformative potential of China’s fintech industry, describing the risks and rewards for participants as well as the impact on consumers. They cover many subsectors of the industry: digital payment systems, peer-to-peer lending and crowdfunding, credit card issuance, internet banks, blockchain finance and virtual currencies, and online insurance. Offering analysis of market potential, risks, and competition, the authors describe major companies including Alipay and Tencent, and other leading fintech firms.

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Sara Hsu

Sara Hsu is a visiting scholar at Fudan University and a former professor of economics at the State University of New York at New Paltz.  She has over 30 publications on the Chinese economy. Her research focuses on China’s financial system, financial technology, and economic and financial policy.