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2020 China Leading Fintech 50 2020 China Leading Fintech 50 KPMG China January 2021 KPMG WeChat Official © 2021Account毕马威华振会计师事务所(特殊普通合伙) — 中国合伙制会计师事务所及毕马威企业咨询 (中国) 有限公司 — 中国有限责任公司,均是与英国私营担保有限公司 — 毕马威国际有限公司(“毕马 威国际”)相关联的独立成员所全球性组织中的成员。版权所有,不得转载。在中国印刷。 1 CONFIDENTIAL DO NOT SHARE WITH OTHERS Contents Overview of the 2020 China 05 01 Leading Fintech 50 02 Trends and Prospects 20 03 Appendix 31 Appendix I Summary of Fintech-related Laws and Regulations 32 Appendix II Profile of the Selection Expert Committee 37 Appendix III KPMG China Fintech Team 38 KPMG China Fintech Series Reports 39 Fintech Research Results from KPMG International 41 About KPMG China 42 ©2021 KPMG HuazhenLLP, a People's Republic of China partnership, and KPMG Advisory (China) Limited, a limited liability company in China, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. Printed in China. 2 Preface The selection of the KPMG 2020 China Leading Fintech 50 has come to an end. Despite the impact of the COVID-19 pandemic, we continued to see increasing activity and creativity in China’s Fintech sector under the guidance of the "Three-year Fintech Development Plan". During the selection process, we were keenly aware of the significant potential of China's Fintech market. The number of high-quality enterprises that emerged in this selection was far beyond expectations. Based on extensive research and a deep understanding of the market, KPMG has selected 100 Fintech companies that displayed an excellent overall performance, including 50 "old champions" and 50 "new Honson To faces", which helped to form the "Double 50" list. The Chairman, KPMG expansion of the list represents not only the increasing Asia Pacific and speed of development of Fintech in China, but also the China positive expectations for the sustainable development of the Fintech industry in the future. The rapid growth of China's Fintech sector relies on policy support and overall market demand. Cloud computing, artificial intelligence (AI), blockchain, big data and other technologies have become increasingly mature and more closely combined with financial products and service scenarios. It is worth noting that when it comes to Fintech innovation, we should not only strictly guard against financial risks, but also take appropriate mitigation measures with regard to new risks that technology brings, which requires cooperation across the business, technology and risk management departments of organisations. Financial market participants should bear in mind that all financial activities must be fully regulated and operate via licenses according to law. At the same time, they should properly manage the relationship Jacky Zou between financial development, stability and security to ensure Vice Chairman, that Fintech innovation continues under a prudent regulatory KPMG China environment, and that risks are properly managed. ©2021 KPMG HuazhenLLP, a People's Republic of China partnership, and KPMG Advisory (China) Limited, a limited liability company in China, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English compa ny limited by guarantee. All rights reserved. Printed in China. 3 Preface New financial services models driven by Fintech and technology have continued to evolve globally. In 2020, the COVID-19 pandemic served as a catalyst for financial institutions to accelerate their digital transformation efforts. The significant demand for and application of digital platforms, digital banking, contactless payment and other Fintech-related services worldwide have prompted financial institutions to Simon Gleave increase their investment in Fintech, with China becoming fertile ground for Fintech development. China's Fintech industry is expected to further develop and become an Head of Financial Services, indispensable key segment of the global market. Asia Pacific, KPMG China The People’s Bank of China’s (PBOC) “Three-year Fintech Development Plan” has provided effective guidance for China's Fintech industry. We are pleased to see that traditional financial institutions in China are embracing technology and pursuing digital transformation through the establishment of Fintech subsidiaries, Fintech special funds and other investments. We predict that through information digitalisation, service platformisation and financial intelligence, the impact of Tony Cheung technology on the entire financial sector will become more Head of Financial Services, profound. KPMG China With the vigorous development of Fintech, a large number of mature Fintech applications, such as big data risk management, intelligent customer acquisition, robotic process automation (RPA), intelligent fraud identification, intelligent customer service and facial-recognition payment have been used in financial institutions’ daily operations to reduce costs, increase efficiency and enhance customer experience. We predict that continued Fintech innovation will lead traditional Thomas Chan financial models to achieve more comprehensive financial inclusion and improve the convenience and accessibility of financial services Head of Financial Services overall. Assurance, KPMG China ©2021 KPMG HuazhenLLP, a People's Republic of China partnership, and KPMG Advisory (China) Limited, a limited liability company in China, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English compa ny limited by guarantee. All rights reserved. Printed in China. 4 01 Overview Overview Introduction Since 2016, KPMG China has successfully launched four annual publications on China’s Leading Fintech Enterprises to publicise and promote the development of Fintech in China. To continue to strengthen the Fintech ecosystem, KPMG China launched its fifth annual ranking of China's leading Fintech enterprises in May 2020. After months of appraisal and selection, we are pleased to release the List of 2020 Leading Fintech Enterprises. Composition of the Selection Committee The Selection Committee consists of several external experts and dozens of representatives from KPMG in China and around the world who specialise in the fields of information technology, data, capital markets, venture capital, risk management, finance, macroeconomics and financial services. Core Dimensions of Selection Criteria • Technology and Data Innovation and Transformation • Innovation and Transformation Core Popularizati Technolo on of gy and Dimensions Financ ial Data • Popularization of Financial Services of Selection Services Criteria • Capital Market Recognition • Industry Development Prospect Capital Industry Market Development Recognition Prospect KPMG has also independently developed its Startup Insights Platform (SIP) Model, combining the above-mentioned core dimensions to quantitatively evaluate enterprises from multiple dimensions including collaboration, technology, product, market and financing. Note: The selection of the China Leading Fintech 50 aims to increase the market's attention on technological innovation in the financial sector, promote industry exchanges, and advance the standardised development of Fintech. It does not evaluate the compliance and investability of the participating companies, nor does it interpret any regulatory policies. January 2021 KPMG China Fintech ©2021 KPMG HuazhenLLP, a People's Republic of China partnership, and KPMG Advisory (China) Limited, a limited liability company in China, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English compa ny limited by guarantee. All rights reserved. Printed in China. 6 Field of Expertise of the Finalists Multi Technologically Innovative Financial Institutions Technology and Finance Payment Technology (PayTech) CrediTech WealthTech InsurTech RegTech & SupTech Fintech Infrastructure 1.8a ©2021 KPMG HuazhenLLP, a People's Republic of China partnership, and KPMG Advisory (China) Limited, a limited liability company in China, are member firms of the KPMG global organisation of independent member firms affiliated with KPMG International Limited, a private English compa ny limited by guarantee. All rights reserved. Printed in China. 7 List of KPMG China 2020 Leading Fintech Double 50 Enterprises * The following enterprises are listed in “pinyin” alphabetical order. Short Name of Full Name of Enterprise Years in Which the Enterprise Enterprise Was Shortlisted Shanghai Shudan Information AFA Finance Technology Co., Ltd. 2020/2019 Aibao Technology Aibao Technology Co., Ltd. 2020/2019/2018 Bairong Yunchuang bairong,inc. Technology Co., Ltd. 2020/2019/2018/2017/2016 CITIC AIBANK CORPORATION AIBANK LIMITED 2020/2019/2018 Beijing youquan zhihui BZN information technology co. LTD. 2020/2019/2018 icekredit IceKredit, Inc. 2020/2019/2018/2017/2016 Bubi (Beijing) Network BUBIBIOCKchain Technology Co., Ltd. 2020/2019/2018/2017 Nanjing three hundred cloud CHE300 Information Technology Co., Ltd. 2020/2019 Datagrand Information and DataGrand Technology (Shanghai) Co., Ltd. 2020 Beijing TerraQuanta Technology TerraQuanta Co.,Ltd. 2020 Beijing Daokou Jinke Technolo DaoKou Fintech -gy Co., Ltd. 2020 Du Xiaoman Technology Du Xiaoman Financial (Beijing) Co., Ltd. 2020/2019/2018/2017/2016 Hunan Fumi Information Webull Technology Co., Ltd. 2020/2019/2018/2017 ©2021 KPMG HuazhenLLP, a People's
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