On January 18, 2021, the “2020 KPMG China 50 Leading Fintech List and Report Conference” was held in Beijing. During the event, KPMG released its annual selection of China’s top fintech companies. This year, the China Fintech 50 report was extended to feature 100 companies to showcase the sector’s growth and fast-changing landscape.
Among the list includes Hong Kong Virtual Asset Exchange Limited, HKD.com, most top the list are based in Shanghai, Shenzhen and Beijing.
In addition to naming China’s most promising fintechs, the report also outlines some key trends observed in the sector over the past year. These trends include for example the rapid integration of technology into every aspect of the financial industry and the increasing convergence of fintech with other sectors. But rapid adoption of technology is also creating new risks that businesses must address.
Since the COVID-19 outbreak, demand for contactless financial services has greatly increased, the report says, and financial institutions are now recognizing that fintech is indispensable to their business transformation and sustainable development.
KPMG’s 2020 China Fintech 50 companies apply technologies including blockchain, artificial intelligence (AI), machine learning (ML) and cloud computing to use cases revolving around investing, wealth management, supply chain finance, lending, and more.