Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Economy

China's SME fintech adoption rate leads the world: EY report

July 30, 2019


Abstract : The adoption rate of fintech in China's small- and medium-sized enterprises (SMEs) ranked first in the world, according to the report, Global FinTech Adoption Index 2019, released by Ernst & Young Global Limited (EY).

BEIJING, July 29 (Xinhua) -- The adoption rate of fintech in China's small- and medium-sized enterprises (SMEs) ranked first in the world, according to the report, Global FinTech Adoption Index 2019, released by Ernst & Young Global Limited (EY).

The adoption rate of fintech in China's SMEs reached 61 percent, while that in the United States came in second at 23 percent.

SMEs in emerging markets are particularly heavy users of banking and payment services, with 63 percent using services in that category. In China, the rate is 92 percent.

As for consumers' use of fintech, the consumer fintech adoption rate in both China and India reached 87 percent, far ahead of the global average of 64 percent, which indicates the wide application of financial platforms and ecosystems in China.

Money transfer and payment is the most common category. In China, where money transfer and payment apps are pervasive, the adoption rate is 95 percent.

The report was based on online surveys of more than 27,000 consumers in 27 countries and regions and 1,000 SMEs in the United States, UK, China, Mexico and South Africa.

Scan the QR code and push it to your mobile phone

Keyword: SME fintech

Reading:

PBoC stimulates credit to businesses

5 companies to debut on China's stock market next week

China accelerates two-way opening-up of capital markets under BRI

Stock Exchange of Thailand, China's Shenzhen Stock Exchange ink MoU

SET signs MoU with SZSE to strengthen Thailand-China capital market collaboration

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial