Located near Hong Kong, Shenzhen is one of the top three financial centers in China along with Beijing and Shanghai. It is not only home to Shenzhen Stock Exchange, but also to a number of VCs, PE funds and tech giants such as Tencent, Huawei, and ZTE. Such favorable positioning combined with special governmental policies boosted the growth of the FinTech industry. As of 2016, Shenzhen hosted 7 of the top 50 FinTech companies in China.

Governmental Policies

1. The government set financial innovation awards for the financial companies, regulators and related personnel that greatly contribute to financial products and services innovation. There is also a FinTech award (the first one in China) focusing on the Blockchain, Digital Currency, Financial Data Utilization, and other related fields.

2. Newly registered companies are to receive one-off awards according to the paid-in capital. For example, those with paid-in capital reaching 1 billion yuan can receive one-off 20 million yuan reward.

3. The government supports qualified financial institutions to buyout companies in other areas by granting special incentives according to transaction volume. Qualified enterprises not only receive awards but also enjoy home purchase and rental support. In addition, pilot programs for foreign equity funds will be implemented.

Top fintech firms in Shenzhen

1. Tenpay
Owned by Tencent Group, Tenpay is a third-party payment platform. It is committed to providing secure, convenient and professional online payment services for Internet users and businesses.

Established in Hong Kong in 2012, FUTUNN.COM provides services to investors engaged in trading of securities listed on the Hong Kong and US stock exchanges. FUTUNN.COM provides services to support the front, middle and back-office functions of securities companies.

3. Shenzhen JFZ Capital Management
it is an internet wealth management company that provides wealth management services for HNW individuals.

4. Shenzhen Suishou Technology
The company was established in 2011 and is well-known in China for providing wealth management services. The company owns several mobile applications such as Feidee and Niuka Credit Card Manager.

5. Shenzhen Wei Zhong Shui Yin
The company uses big data to provide credit investigation and risk control services. It was one of the first companies to receive a license from the Shenzhen Municipal Government to conduct credit investigations for enterprises and has many patents in technologies related to taxation.

6. WeBank
WeBank was granted a license in December 2014 and has since launched several products including Credit Particles, the WeBank mobile application, and WeCar Credit. These products offer an array of financial services covering payments, personal credit, and financial management.

7. WeLab
WeLab was founded in Hong Kong in 2013 and began operating in China in 2014. It is a platform that allows users to apply for credit using their mobile phones.

Our cooperation partner in Shenzhen

Hande Finmaker is a pioneering platform focused on developing cutting-edge financial technologies. It brings together leading international R&D experts, prominent bankers and innovative technologies in order to deliver technology solutions and consulting services to Chinese financial institutions. Its technology portfolio includes Blockchain, Big Data, Artificial Intelligence and Virtual Reality solutions that are already being applied in the Chinese financial services industry. Hande Finmaker is a proud founding member of the ChinaLedger Union.

Do you want to expand to China? Or get in contact with local FinTech companies? Please meet our partner Marquesa and her team. Leave us a message or follow us on LinkedIn or Twitter.

We support you in starting successfully in Shenzhen.