The expansion of fintech companies in China and the government's regulatory responses

Abstract

The financial companies that operate from internet platforms (fintech) have developed in many world markets in recent years, promoting great transformations in the financial system of the countries and in the global market, contributing to financial inclusion and even forcing to modify bank operations. The Chinese market is at the forefront of this trend. The development of fintech has created financing opportunities for unbanked people and small businesses with little or no access to the banking system, which is why it is considered an inclusive financial system. This has happened especially in countries with a low degree of bank penetration such as China, but also in the more developed economies.