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ABSTRACT
Fintech has become ubiquitous in daily life for many Chinese citizens. Individuals have become increasingly used to making digital payments, using online banking services, and purchasing wealth management and insurance products online. We discuss how China gained fintech momentum and how new technologies allowed fintech firms to move forward. We then examine whether China’s fintech momentum will continue.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Notes
1 Pinduoduo was successful since it gamified shopping in order to improve user retention. The company provides discounts for bulk purchases of daily necessities.
2 By contrast, Tencent has avoided government scrutiny due to its popularity within the e-commerce industry, as an investor and platform operator.
Additional information
Notes on contributors
Sara Hsu
Sara Hsu is a Clinical Associate Professor of Supply Chain Management at the University of Tennessee at Knoxville. She was previously an Associate Professor of Economics at the State University of New York at New Paltz. Dr. Hsu focuses on the Chinese economy, fintech, and supply chains.