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

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


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About the Book

Financial technology—or fintech—is 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 China’s fintech firms will change the way the world does business. In China’s Fintech Explosion, Sara Hsu and Jianjun Li explore the transformative potential of China’s financial-technology industry, describing the risks and rewards for participants as well as the impact on consumers. They cover fintech’s 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, China’s Fintech Explosion is a must-read for anyone interested in one of the world’s breakout sectors.

Table of Contents:
Preface Acknowledgments 1. Overview of China’s Fintech Industry 2. Digital Payment Systems 3. Peer-to-Peer Lending and Crowdfunding 4. Online Consumer Credit, Online Supply Chain Finance, and Internet Banks 5. Online Investment and Insurance 6. Blockchain Finance and Virtual Currencies 7. Disruption of Traditional Banking 8. Risks of Fintech and Regulatory Technology 9. Credit Reporting and Key Financial Technologies 10. Outlook and Summing Up Notes Bibliography Index

About the Author :
Sara Hsu is a visiting scholar at Fudan University’s Fintech Research Center. She was previously associate professor of economics at the State University of New York at New Paltz. Jianjun Li is professor of finance at the Central University of Finance and Economics in Beijing. His many books include Informal Finance in China: American and Chinese Perspectives (2009), coedited with Sara Hsu.

Review :
China has emerged as a leader in the global fintech industry, but there has been limited insight into this development. This book provides a wonderful summary of China’s fintech development, covering topics such as digital payment systems, peer-to-peer lending, and online consumer credit. From this book, we can understand how these emerging fintech businesses are changing the way Chinese consumers pay, borrow, and invest, and we receive a roadmap for the future of China’s fintech industry. Fintech started in the West, but to fully understand its adoption and innovation one must look East. This book does precisely that. It is an informative and comprehensive guide to the fast-moving area of fintech in China. This book goes beyond the techno-provision of credit to the underfunded and covers all areas of fintech, neatly blending contemporary information with analysis, case study, and research review. It is a must-read for the scholar and the student as well as those who wish to understand fintech in China. While most writing on fintech takes a vertical approach to the field, this book’s integrative approach will become more valuable as point-solution start-ups begin to build the more multifaceted solutions long offered by incumbent financial-services firms. It is also accessible to anyone looking to gain a better understanding of the current state of affairs of fintech in China—certainly a good text for fintech courses in undergraduate and graduate programs. The book is recommended for scholars who are interested in China’s fintech industry and modern banking sector, the Chinese economy, Chinese technological innovations, and the rise of global financial technology, especially those whose access to relevant information is limited to non-Chinese sources.


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Product Details
  • ISBN-13: 9780231196567
  • Publisher: Columbia University Press
  • Publisher Imprint: Columbia University Press
  • Height: 229 mm
  • No of Pages: 320
  • Returnable: Y
  • Returnable: Y
  • Width: 152 mm
  • ISBN-10: 0231196563
  • Publisher Date: 04 Aug 2020
  • Binding: Hardback
  • Language: English
  • Returnable: Y
  • Returnable: Y
  • Sub Title: Disruption, Innovation, and Survival


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