China Says China is #1 in Fintech

Note from the Publisher:  And I quote…………”if they print it, it must be true”.  Those were the words of my mother back in the day when MOST of what was printed was PROBABLY true (although not sure that was ever the case with the National Enquirer, which I believe she was referencing at the time).  Anyway, China Daily has published a piece declaring that China is #1 in fintech, according to a list compiled by KPMG……China (and an Australian VC H2 Ventures).  So, it COULD be that is true.  We DO know that they have a massive market and massive fintech adaptation.  What do YOU think?

“BEIJING – China’s financial technology (fintech) firms continue to lead globally, securing four positions in the top five in a recent industrial ranking.

Alibaba’s third-party payment platform Ant Financial tops the global ranking for the 100 best performing fintech companies, with micro-loan firm Qudian, wealth management company Lufax and insurance enterprise Zhong An entering the top five, according to a report by international accounting firm KPMG and investment firm H2 Ventures.

The firms are rated according to their capital raising volume and ratio, geographic and sector diversity, and consumer and marketplace traction.

It is no surprise to see four Chinese companies in the top five. Fintech in China has seen rapid development, fuelled by the demand to address domestic needs,’ said James McKeogh, Partner with KPMG China. ‘It is likely that we will see more of these players move to the international markets in the future.'”

Read Full Article at ChinaDaily