About Huang YipingYiping Huang is a Sinar Mas Professor of Economics and Finance at the National School of Development and Institute of Digital Finance, Peking University, Beijing, People’s Republic of China.
By Huang Yiping. Posted February 26, 2021
Financial technology (fintech) is rapidly changing the financial landscape in the People’s Republic of China (PRC), with important implications for financial inclusion and macroeconomic stability (Huang 2020). Fintech in the PRC started at the end of 2004 when the mobile payment service Alipay first came online. However, fintech did not grow dramatically until 2013, when the online money market fund Yu’ebao started to receive investments from Alipay users.
The People’s Republic of China (PRC) has been liberalizing its financial system for nearly 4 decades. While it now has a comprehensive financial system with a large number of financial institutions and large financial assets, its financial policies are still highly repressive. These repressive financial policies are now a major hindrance to the PRC’s economic growth (Huang and Wang 2011).
Subscribe / Connect to Asia Pathways
- Agriculture and natural resources
- Capacity development
- Climate change
- Finance sector development
- Governance and public sector management
- Industry and trade
- Information and Communications Technology
- Private sector development
- Regional cooperation and integration
- Social development and protection
- Urban development
- Video Blog
- Infrastructure investment to spur firm performance in Central Asia
- COP26-aligned fiscal policy instruments for boosting Asian green growth, sustainable recovery
- Should emerging Asia worry about a “taper tantrum” post-COVID-19?
- Supporting the creative economy for sustainable development in Southeast Asia
- Foreign holdings of local currency bonds: A double-edged sword for emerging Asia