Fintech, Digital Financial Inclusion, and National Financial Competitiveness

Abstract

With the rapid development of fintech as represented by the internet, artificial intelligence, blockchain, cloud computing and big data, especially the evolution of big data and deep learning, and the major changes in financial service models and products in recent years, the development of global inclusive finance has undergone different stages, from “micro finance,” through “inclusive finance,” to “digital financial inclusion.” In the context of growing global competition in the financial sector, many countries are promoting digital financial inclusion and formulating applicable national development strategies. Therefore, it is suggested that China should further strengthen support policies, increase its influence on global financial governance, construct a long-term regulatory mechanism for digital financial inclusion, and build digital inclusive financial infrastructure in order to improve the international competitiveness of China’s financial industry.

Key words： Fintech, digital financial inclusion, China’s finance competitiveness