China's Fintech Explosion

Financial technologyor fintechis 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 Chinas fintech firms will change the way the world does business. In Chinas Fintech Explosion, Sara Hsu and Jianjun Li explore the transformative potential of Chinas financial-technology industry, describing the risks and rewards for participants as well as the impact on consumers. They cover fintechs many subsectors, such as digital payment systems, peer-to-peer lending and crowdfunding, credit card issuance, 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, Chinas Fintech Explosion is a must-read for anyone interested in one of the worlds breakout sectors.