China Daily Global Edition (USA)

Fitch report: Fintech innovation rising

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Financial technology has continued to prosper in China despite intense regulatory scrutiny to control risks, with the sector expected to see healthy surges in investment and innovation, said a new report from Fitch Ratings, a global credit ratings agency. Fintech has seen rapid growth in China due to a favorable environmen­t fostered by the wide use of mobile devices and the internet, a strong digital payment ecosystem, and the government’s promotion of technologi­cal and financial innovation to support economic growth.

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