The Rise of Chinese Fintech

John Mahoney (Co-Chair of Global FIG, Goldman Sachs) in conversation with Todd Baker (Senior Fellow, Richman Center) & Professor Bo Cowgill (Columbia Business School) China has the largest fintech ecosystem in the world today, dominated by giants like Ant, Alipay, Baidu, and Ping An but also with a host of startups penetrating underserved markets within the country and beyond. The volume of fintech payments in China grew 74 times between 2010 and 2016, online loan balances grew more than 36 times between 2013 and 2016, and according to KPMG and H2, five of the world’s top ten fintech firms in 2017 were Chinese. China’s open regulatory environment has supported this growth largely outside of the traditional— and heavily regulated—banking sector, although this trend may be showing signs of change. Moreover, fintech innovation has benefited from government and consumer support for personal and financial data sharing, as well as limited personal privacy. John Mahoney, Co-Chair of Goldman Sachs’s Financial Institutions Group (FIG) and previously head of Goldman’s Asian FIG practice, had a front-row seat to these remarkable developments from his former office in Hong Kong. Joining Todd H. Baker (Senior Fellow, Richman Center) and Bo Cowgill (Assistant Professor, Columbia Business School), Mahoney will discuss the rise of Chinese fintech and the lessons it holds for the United States. Light dinner and refreshments will be served. This event is open to the public and on the record. By attending, you consent to appearing in any photos or videos produced by the event organizer or third parties. If you have any questions or concerns, please let us know in advance.
 

 

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