China's Fintech Explosion

Disruption, Innovation, and Survival

Sara Hsu and Jianjun Li

Columbia Business School Publishing

China's Fintech Explosion

Pub Date: August 2020

ISBN: 9780231196567

320 Pages

Format: Hardcover

List Price: $35.00£30.00

Pub Date: August 2020

ISBN: 9780231551717

320 Pages

Format: E-book

List Price: $34.99£27.00

China's Fintech Explosion

Disruption, Innovation, and Survival

Sara Hsu and Jianjun Li

Columbia Business School Publishing

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 and 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.
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 start to build 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. Drew David Pascarella, Associate Dean for MBA Programs and founder of the Fintech Intensive, Samuel Curtis Johnson Graduate School of Management, Cornell University
Preface
Acknowledgments
1. Overview of China’s Fintech Industry
2. Digital Payment Systems
3. Peer to Peer Lending and Crowdfunding
4. Credit Card Issuance 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. Summing Up
References
Notes
Index

About the Author

Sara Hsu is CEO of China Rising Capital Forecast, a fintech start-up covering Chinese financial policies and developments. 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.