The IFF China Report 2021

Insight and perspectives from the world’s leaders, premier policy-makers and financiers


Over the past half century, China has transformed into a major economic centre, with innovative forms of finance – including green bonds and fintech – at its heart. In this chapter, authors discuss successful case study projects and explain why it is necessary for financial firms to continue pushing forward with digital transformation projects within a mindset of a ‘global digital economy’. In the wake of the Covid-19 pandemic, digital financial products and services could prove a catalyst for sustainable development, they argue, but appropriate regulatory frameworks need to be in place to ensure adequate levels of consumer protection.

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Digital disruption in financial institutions

Long-established financial firms must innovate, update and restructure to maintain their edge over upstart enterprises, says Chen Wenhui, IFF vice-chairman and vice-chairman of the National Council for Social Security Fund

A wake-up call on digitalisation

Simon Zadek, former sherpa of the UN Secretary General’s Task Force on Digital Financing of the Sustainable Development Goals, and chair of finance for biodiversity, asks how digitalisation and financial technology create space for catalytic…

The irreversible rise of fintech in China

Financial technology’s progress in China has been accelerated by the Covid‑19 pandemic, as business has increasingly moved online. Li Dongrong, former deputy governor of the People’s Bank of China, discusses how innovation, infrastructure and integration…

Old concepts, new tricks

There are not many new concepts in technology today – most of them are refinements and iterations of the same concepts – only new implementations from the past 40–60 years. Wei Qing, chief technology officer of Microsoft China, explores the methodology…

Green finance flourishes in Huzhou

Chen Hui, chief executive officer of Beijing Uni Inclusive Technology, discusses fintech’s role in facilitating China’s local green finance development, focusing on the integrated digital ecosystem in the pilot zone of Huzhou in Zhejiang Province

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