You want to expand your FinTech or Cybersecurity business to Asia’s largest market?
Our services for your successful start in China:
We support you in German, English, Cantonese and Mandarin languages with our offices in Frankfurt, Hong Kong and Shanghai.
Advantages of FinTech in China
Mainland China is by far the largest retail market for FinTech. New payment service like Alipay of Ant Financial or WeChat Pay have revolutionized payments beyond the Chinese borders. Furthermore, there are heavyweights like Lufax, a subsidiary of Ping An Insurance or ZhongAn offering P2P-lending, insurance and other financial services via mobile.
Not only Beijing, Shanghai or Shenzhen, but many more second tier cities offer first class infrastructure, modern FinTech spaces and a strong pool of IT talents. More and more people from the FinTech communities understand English. But for establishing a business or subsidiary in China, you still require Chinese natives.
FinTech in China is still dominated by payment services. Wealth management and financing/lending follow by far. Valuations of many FinTech companies have skyrocketed, leading to a high number of so-called unicorns in China. Starting in China with a sound business plan and a strong team offers great opportunities in following that trend.
While FinTech in Europe is mainly driven by close cooperation between FinTechs and incumbent banks and insurances, you experience true disruptions in China.