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China Leapfrogs the World in Fostering Innovation

With a population of over 1.35 billion, China recently became the second largest economy and is increasingly playing an important and influential role in the global economy. Not only China is a massive economic force, but also one of the leading countries in terms of disruptive technology and innovative businesses. One of the vehicles that allowed China to go far and beyond in the development of disruptive technology is the rate of mobile adoption – around 675 million people in China use smartphones with 40% of smartphone users making mobile payments.

Moreover, in the report published in August this year, the International Trade Association put China among the top financial technology mark ...

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