China, the fertile land for Fintech

Admitting that another is better is not easy, it requires recognizing your own faults and the advantages of the one that stands out; This phenomenon is happening in the world of Fintech Industries, where Europe recognized that China is dominating this market, being the country with the greatest acceptance and progress in the whole world according to CNBC studies .

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The "Money 20/20" Conference

This is known as the congress of companies, investors and passionate about the industries and startups of Fintechs , being held on this occasion in Amsterdam, holding debates, conferences, talks and meetings during the event, with the aim of exposing the progress, current and future of this nascent market.

One of the issues that caused a stir was the acceptance of the communities, including consumers and governments, towards the industries of this style, covering the topics of innovation, adaptation and implementation. In all activities there was an agent in common, which they recognized as the best current scenario and go to reference, with China winning the title.

Being recognized by participating regulators, invited professionals and their European competitive partners, this nation and its companies showed their pride at the time of participating, leaving the table that has not yet reached its full potential

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Case of Example

"Alibaba and Ant Financial, we are literally the largest fintech company in the world, and we are the largest e-commerce company in the world, and these two massive machines still, with an annual basis, grow at more than 50 percent a year "Said Li Wang., Alipay's EMEA boss, told CNBC's Arjun Kharpal at the conference.

These are the companies that lead the world market, reflecting the potential of each of the agents within the nation.

Li raises the idea that success in the territory is related to the demand of its citizens for services with lower costs and higher productivity, which can serve masses of individuals without losing quality. The Fintech industries were the solution to this problem, an example being the application of Aliplay.

This is a mobile and online payment platform, it has 870 million active users, with 600 million in China and 270 million in the rest of the world. These user numbers are a testament to how fast Chinese consumers have overtaken other countries when it comes to using fintech.

Projection to the Future

At the end of the planned activities, each Chinese industry commented that, thanks to its growth, they will be able to expand to the rest of the world, seeking to improve their services. This implied that they are organizing to attend as many people as possible, symbolizing a sign of competition for local fintechs in each country.