We’ve often looked to fintech in China as a window into the future of finance. The LendIt team has witnessed this firsthand as we built our Chinese event called LendIt Fintech China, now in its third year, as a bridge between the east and the west. We’ve seen partnerships taking various forms between US and Chinese firms and, despite the political noise, now is a good time for companies across the globe to explore opportunities in China.
Highlighted in this White Paper is an outline of China’s financial openness goals, the factors responsible for this policy change, a timetable for reform implementation and why foreign financial service companies need to act now to prepare for entering the China market.
Key findings include:
China recently surpassed the US as the global leader in VC fintech deals for 2018 with the top 10 deals raising more than $2 billion.
Proposed relaxation and removal of foreign ownership limits creates areas of opportunity in consumer finance, international banking, insurance, asset management and pension funds.
China’s new regulatory regime will help to better integrate the regulatory and supervision mechanism, improve agency coordination, and provide better clarity on regulations.