November 28, 2016
If there is a FinTech version of Silicon Valley, it is China, Period. Today, there is no equivalent of China in the FinTech world. Having spent the past several months in China, here are some observations/insights from the FinTech scene in China:
1. China is the world’s largest FinTech market. In 2015, its market size of Internet finance was greater than $1.8 trillion.
2. China is a global leader in every aspect. The country has taken in some of the largest chunks of global investment.
3. Out of 27 FinTech unicorns, China’s 8 FinTech unicorns have raised $9.4 billion in funding and have a combined valuation of $96.4 billion.
4. Innovation, assets & borrowers, operations and regulation have catapulted the growth of the Chinese FinTech market. 5. China’s Internet ecosystem cannot be underestimated and replicated. Factors contributing to China’s FinTech success include: