China is a world leader in the fintech sector, not only because Chinese fintech startups are multiplying at an unprecedented speed, but also because China has an open, supportive regulatory environment that helps the industry flourish.
Other factors that support China’s position in the fintech sector are economic progress, mobile tech, big data, investor attitude and the enormous demand for fintech services. “It’s no longer the banks. I think the future depends on the disruption of those banks and mobile banking is one option for disrupting them,” said Jonathan Ha, CEO of research firm Red Pulse, at the 2016 Fund Forum Asia conference in Hong Kong.
For more on this story visit the following link: What Makes China a Disruptor in the Financial Technology Sector
Source: Wealth Insider