China's internet finance sector thrived again this year amid the tightening up of government regulations, with a total of over RMB 130 billion raked in from January to May, as reported by the Economic Information Daily on Tuesday.
This amount, raised in close to 200 deals in five months, already overwhelms that registered during the sector slump of 2017 when only RMB 30 billion was obtained through 170 deals.
Prominent deals struck recently included the USD 65 million raised by the 9Fgroup in the series D fundraising round, the RMB 2.3 billion received by the FinTech firm cgtz.com., and the impressive USD 14 billion pocketed by the mobile payment giant Ant Financial.
The renewed enthusiasm in internet finance this year reflected the growing confidence on the part of investors, experts commented.
As regulations tightened to bring about a more regulated market environment, this sector is growing on a healthier path and offering more services and applications.
Many venture capitals are confident about the prospect of the FinTech-based inclusive finance as the internet finance sector presses ahead with its exploration.
The progress of FinTech, e.g. big data, artificial intelligence, cloud computing, and blockchain, is reforming the financial ecosystem and its service models. Inclusive finance, smart finance, and microfinance are becoming new growth points. Influential players with advanced technologies are rising to the front ranks of this sector.
Stronger regulations are reshaping the landscape of internet finance.
Many internet financial players joined hands with the long-established financial institutions to boost their competitive edge and risk tolerance, as in the case of the recent partnership between the Fengjr.com and a bank in Beijing.
Experts point to the vast development potential of the internet finance sector at home.
As the public craves for more channels to make investments and manage their wealth, its innovative technologies and enhanced business models will serve to match this strong demand.
This amount, raised in close to 200 deals in five months, already overwhelms that registered during the sector slump of 2017 when only RMB 30 billion was obtained through 170 deals.
Prominent deals struck recently included the USD 65 million raised by the 9Fgroup in the series D fundraising round, the RMB 2.3 billion received by the FinTech firm cgtz.com., and the impressive USD 14 billion pocketed by the mobile payment giant Ant Financial.
The renewed enthusiasm in internet finance this year reflected the growing confidence on the part of investors, experts commented.
As regulations tightened to bring about a more regulated market environment, this sector is growing on a healthier path and offering more services and applications.
Many venture capitals are confident about the prospect of the FinTech-based inclusive finance as the internet finance sector presses ahead with its exploration.
The progress of FinTech, e.g. big data, artificial intelligence, cloud computing, and blockchain, is reforming the financial ecosystem and its service models. Inclusive finance, smart finance, and microfinance are becoming new growth points. Influential players with advanced technologies are rising to the front ranks of this sector.
Stronger regulations are reshaping the landscape of internet finance.
Many internet financial players joined hands with the long-established financial institutions to boost their competitive edge and risk tolerance, as in the case of the recent partnership between the Fengjr.com and a bank in Beijing.
Experts point to the vast development potential of the internet finance sector at home.
As the public craves for more channels to make investments and manage their wealth, its innovative technologies and enhanced business models will serve to match this strong demand.
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