Disruption and Connection: Cracking the Myths of China Internet Finance
Innovation in China’s has led to an Internet finance industry that has developed rapidly over the recent years, By the end of 2020, the overall market size of China Internet finance had reached almost 20% of GDP, in many key aspects being leaders around the globe, such as the number of users and the addressable market size. Small businesses in the Fintech industry with game-changing innovative revenue and business models and solutions are coming up every from all sectors in the china economy. People’s normal way of life is also being influenced by Internet finance in so many ways from how they spend and where banking, for example, is no longer a place they go but what they do. This rise of Internet finance in China is linked to the following: 1. Open, supportive regulatory environment hence conducive laws 2. Highly developed E-Commerce business ecosystem with companies such as Alibaba, Internet economy has taken up 7% of China’s GDP (verses 4 to 5% for the US, Japan, and German...