China: major progress in FinTech areas by technology 2020

According to a survey conducted in the fourth quarter of 2020 in China, 28 percent of respondents believed a major technological breakthrough will happen in Big Data analytics within the next three years. Meanwhile, 23 percent of respondents stated that large advancements are going to be achieved in the Artificial Intelligence (AI) field.

Main areas of technological breakthrough in FinTech in the next three years in 4th quarter of 2020, by technology

Characteristic	Share of respondents
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Release date

March 2021

More information

Region

China

Survey time period

Q4 2020

Number of respondents

200 respondents

Special properties

among traditional financial institutions and FinTech companies

Method of interview

Questionnaire

Supplementary notes

Original question: What are the main areas of technological breakthrough in FinTech in the next 3 years?

According to the source, the distribution of respondents is as follows: Commercial banks 33%, insurance companies 33%, greater asset management 18%, FHC 8%, FinTech companies 6%.

Among the 'greater asset management companies' are respondents from: sub-verticals of wealth management subsidiary of banks, insurance asset management companies, securities firms, fund management companies and trusts.
Consumer finance companies, financial leasing companies, clearing institutions, financial business departments of large-scale enterprises etc. belonging to 'other institutions'.

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