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Report Overview
The China fintech market size reached approximately USD 76.5 billion in 2023. The market is further projected to grow at a CAGR of 18.3% between 2024 and 2032, reaching a value of USD 347.57 billion by 2032.
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
China Fintech Market Analysis
The growth of the China fintech market can be attributed to the increasing government investments to promote financial inclusion, surge digital payments, and ensure the stability of financial service payments. For instance, the United Kingdom government has created a task force to explore digital bank currency to form a more open, greener, and technologically advanced financial services sector. Similarly, South Korea’s regulatory sandbox scheme is aimed at commercialising innovative fintech solutions and promoting competition.
Fintech organisations are increasingly integrating AI to prevent fraud, respond to customers’ queries, and enhance client engagement. There is a surge in the deployment of cloud computing, blockchain, and IoT by fintech companies to maintain sensitive data, reduce transaction costs, and comply with government regulations. Technological advancements and innovations is further driving the China fintech market.
China Fintech Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The market reached a value of approximately USD 76.5 billion in 2023.
The China fintech market is assessed to grow at a CAGR of 18.3% between 2024 and 2032.
The market is assessed to witness healthy growth in the forecast period to reach around USD 347.57 billion in 2032.
The major market drivers include increasing utilisation of telemedicine, e-commerce, and e-learning is boosting the requirement for fintech services and rising sophistication of financial software development companies.
The key trends fuelling the growth of the market include increasing adoption of novel technologies by the sector including blockchain, artificial intelligence, cloud computing, augment reality and virtual reality, and machine learning and increasing access to capital.
Based on the applications, the market is divided into banking, insurance, and securities, among others.
Based on the technology, the market is divided into artificial intelligence, application programming interface (API), robotic process automation, and data analytics, among others.
The market's key players Airwallex, ZhongAn Technologies International Group Limited, Beijing Lerong Duoyuan Information Technology Co., Ltd., Shanghai Dianrong Financial Information Services Co., Ltd., Tencent Holdings Ltd., Rong360.com Inc., Lufax Holdings Limited, Mashang Consumer Finance Co., Ltd., ZhongAn Online Property Insurance Co., Ltd., Futu Securities International (Hong Kong) Limited, and OneConnect Technology Co., LTD., among others.
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