The Rise of Internet Finance: Global Development and Practice in China

Internet Finance;E-finance;Fintech;327

국제대학원 국제학과 ;

University:서울대학교 국제대학원

关键词: Internet Finance;    E-finance;    Fintech;    327;   

Others  :  http://s-space.snu.ac.kr/bitstream/10371/129100/1/000000137098.pdf

美国|英语

来源: Seoul National University Open Repository

【 摘 要 】

Fintech, the combination of finance and technology, has been the hot spot worldwide, both in the business world and academic world. While Fintech tends to be associated with western countries, the development of internet finance in China is also worthy of attention. Recent years have witnessed the unprecedented growth of China’s internet finance, which is leading a paradigm shift in the financial sector. As a market-driven response to China’s long-standing repression of the financial services industry, the current boom of internet finance in China is set to revolutionize finance in China.This newborn industry has experienced an influx of a variety of new entrants, not only in traditional financial institutions but also Internet companies with financial services ranging from third-party payment, peer-to-peer lending, crowdfunding, financial search engine and transaction platform, and other disruptive financial innovations.China is enjoying a remarkable growth in the internet financial market compared with other developed countries. This paper argues that the rapid development of China’s internet finance is a result of economic development gap and an imperfect financial system. Despite the fact that internet finance in China shares many similarities with western prototypes, their differences are distinct and significant. In brief, Internet finance is Fintech with Chinese characteristics.The emergence of internet finance has been changing the competitive landscape of financial sectors in China, and there is no doubt that internet finance will continue to develop rapidly in China with a more inclusive regulatory environment.