The Chinese government has stepped up their monitoring on payments, halted IPO approvals, issued new rules for online lenders and continued their crackdown on cryptocurrencies; China has been seen as an innovation leader, in particular in mobile, but the recent crackdown could set the country back as a leading fintech innovator; as the nation matures in certain fintech areas its regulators need to better handle how they react to the market; Michelle Evans, global head of digital consumer research at Euromonitor International, tells TearSheet, “The next stage of its development will require Chinese regulators to find the right balance that will be provide for consumer protection and fair operations while still enabling fintech the room to innovate.” Source.
