With the advancement of technologies and its application in financial filed, a combination of finance and technology, Fintech, has emerged on the market and it has been developing rapidly in China in recent years, improving and even disrupting the traditional financial services with advanced technologies and innovative business models. Meanwhile, China is still toward the progress to achieve the financial inclusion, which is of great significance to its economic growth and financial stability. Anecdotal evidence suggests that Fintech is able to contribute to the development of financial inclusion, but there are few systematic approaches studying how Fintech promotes financial inclusion. The objective of this paper is to explore how Fintech promotes the financial inclusion in China by coming up with a systematic framework through developing a handful of indicators from four critical elements of financial inclusion. The core idea of this paper is to break down the financial inclusion into a bunch of indicators from four key elements based on its definition, making it easier to examine the impact of Fintech on financial inclusion. Therefore, the paper at first identifies four key elements of financial inclusion based on its definition and develops corresponding indicators based on four key elements, and these indicators can be used to examine the impact of Fintech on financial inclusion in the latter part of this thesis. Additionally, it is necessary to explore the overall level of financial inclusion in China through the comparison with other countries and understand the current development status of Fintech in China from the perspective of digital payment, P2P lending, Crowdfunding, Robo-advisory, and Internet banks, and then it analyzes the contribution of Fintech on financial inclusion through key elements of financial inclusion proposed by the paper. Moreover, a case study is illustrated to explore how WeBank, an Internet bank, contributes to financial inclusion in terms of indicators developed from critical elements of financial inclusion.
Con il progresso tecnologico e la possibilità di applicare le nuove tecnologie digitali in campo finanziario, una nuova combinazione di tecnologia e finanza, detta FinTech, si è affermata rapidamente in Cina negli ultimi anni, migliorando e talvolta rivoluzionando i servizi tradizionali con tecnologie avanzate e modelli di business innovativi. Allo stesso tempo la Cina è in corsa per raggiungere l'inclusione finanziaria, un aspetto chiave per la sua crescita economica e per la stabilità finanziaria. Evidenze aneddotiche suggeriscono che FinTech è in grado di contribuire in questi processi migliorativi, ma ad oggi sono ancora pochi gli approcci sistematici che si sono concentrati su FinTech e sui vantaggi che ne possono conseguire dalla sua diffusione. L'obiettivo di questo documento è quello di esplorare come Fintech promuova l'inclusione finanziaria in Cina elaborando un quadro sistematico attraverso lo sviluppo di una serie di indicatori che comprendono quattro elementi critici dell'inclusione finanziaria. I quattro indicatori chiave sono basati sulla definizione di FinTech e rendono più agevole esaminare il suo impatto in termini di inclusione finanziaria. Pertanto, il documento inizialmente identifica quattro elementi chiave dell'inclusione finanziaria e sviluppa gli indicatori corrispondenti, che vengono poi utilizzati per esaminare l'impatto del Fintech sull'inclusione finanziaria nella seconda parte di questa tesi. Inoltre, è necessario esplorare il livello generale di inclusione finanziaria in Cina attraverso il confronto con altri paesi e studiare l'attuale stato di sviluppo del Fintech in Cina per quanto concerne pagamenti digitali, prestito P2P, crowdfunding, robo-advisory e internet bank. Infine, viene illustrato un caso di studio per esplorare come WeBank, una banca che eroga servizi online, contribuisca all'inclusione finanziaria in termini di indicatori sviluppati da elementi critici dell'inclusione finanziaria.
Research on Fintech promoting financial inclusion in China
Shi, Luping
2019/2020
Abstract
With the advancement of technologies and its application in financial filed, a combination of finance and technology, Fintech, has emerged on the market and it has been developing rapidly in China in recent years, improving and even disrupting the traditional financial services with advanced technologies and innovative business models. Meanwhile, China is still toward the progress to achieve the financial inclusion, which is of great significance to its economic growth and financial stability. Anecdotal evidence suggests that Fintech is able to contribute to the development of financial inclusion, but there are few systematic approaches studying how Fintech promotes financial inclusion. The objective of this paper is to explore how Fintech promotes the financial inclusion in China by coming up with a systematic framework through developing a handful of indicators from four critical elements of financial inclusion. The core idea of this paper is to break down the financial inclusion into a bunch of indicators from four key elements based on its definition, making it easier to examine the impact of Fintech on financial inclusion. Therefore, the paper at first identifies four key elements of financial inclusion based on its definition and develops corresponding indicators based on four key elements, and these indicators can be used to examine the impact of Fintech on financial inclusion in the latter part of this thesis. Additionally, it is necessary to explore the overall level of financial inclusion in China through the comparison with other countries and understand the current development status of Fintech in China from the perspective of digital payment, P2P lending, Crowdfunding, Robo-advisory, and Internet banks, and then it analyzes the contribution of Fintech on financial inclusion through key elements of financial inclusion proposed by the paper. Moreover, a case study is illustrated to explore how WeBank, an Internet bank, contributes to financial inclusion in terms of indicators developed from critical elements of financial inclusion.| File | Dimensione | Formato | |
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https://hdl.handle.net/10589/170424