2017 Fintech 50 PDF

2017 China Leading
Fintech 50
KPMG China
December 2017
KPMG WeChat Fintech 50 Survey

Page
Contents
01 Disruptions & Breakthroughs 04
02 Overview 07
03 China’s Leading Fintech 50 17
04 Appendix
Appendix I
Appendix II
Global comparison
Regulatory update
69
７０
７１
Appendix III External experts ７４
Appendix IV KPMG China fintech leaders ７５
Appendix V Glossary ７６
The China Leading Fintech 50 Series 77

KPMG fintech credentials 78
About KPMG China 79
Contact us 80
Note: This report was translated from Chinese. If there are any questions relating to the accuracy of the translation,
please refer to the Chinese report.
© 2017 KPMG ＨｕａｚｈｅｎＬＬＰ — ａＰｅｏｐｌｅ＇ｓＲｅｐｕｂｌｉｃｏｆＣｈｉｎａｐａｒｔｎｅｒｓｈｉｐ，ＫＰＭＧＡｄｖｉｓｏｒｙ（Ｃｈｉｎａ）Ｌｉｍｉｔｅｄ — ａｗｈｏｌｌｙｆｏｒｅｉｇｎｏｗｎｅｄｅｎｔｅｒｐｒｉｓｅｉｎＣｈｉｎａ，ａｎｄＫＰＭＧ — ａＨｏｎｇＫｏｎｇ
ｐａｒｔｎｅｒｓｈｉｐ，ａｒｅｍｅｍｂｅｒｆｉｒｍｓｏｆｔｈｅＫＰＭＧｎｅｔｗｏｒｋｏｆｉｎｄｅｐｅｎｄｅｎｔｍｅｍｂｅｒｆｉｒｍｓａｆｆｉｌｉａｔｅｄｗｉｔｈＫＰＭＧＩｎｔｅｒｎａｔｉｏｎａｌＣｏｏｐｅｒａｔｉｖｅ（“ＫＰＭＧＩｎｔｅｒｎａｔｉｏｎａｌ”），ａＳｗｉｓｓｅｎｔｉｔｙ．Ａｌｌｒｉｇｈｔｓ
reserved. © 2017 KPMG, a Macau partnership and a member firm of the KPMG network of independent member firms affiliated with ＫＰＭＧＩｎｔｅｒｎａｔｉｏｎａｌＣｏｏｐｅｒａｔｉｖｅ（“ＫＰＭＧ
Ｉｎｔｅｒｎａｔｉｏｎａｌ”），ａＳｗｉｓｓｅｎｔｉｔｙ．Ａｌｌｒｉｇｈｔｓｒｅｓｅｒｖｅｄ．
Introduction
We are pleased to share with you the results of
the 2017 KPMG China Leading Fintech 50. This
year's list reflects the importance of advanced
information technologies, which are constantly
driving fintech innovation within the financial
services industry. The growth of fintech has also
spurred the cooperation and integration of
financial institutions and startups, while increased
capital investment has accelerated the
optimisation and allocation of resources for
technology and innovation. This is indicative of the
Honson To
country’s booming fintech ecosystem.
Chairman, KPMG
Asia Pacific and China
In recent years, fintech innovation has continuously sped up the

overall development of the financial industry. It has played a
substantial role in developing inclusive finance, supporting real
economic growth and propelling financial services to a wider
audience.
To ensure the continuous development of innovation, it is
important for all related parties to participate actively in
discussions. While there have been more frequent interactions
between regulators and the fintech industry, we need to ensure
that efforts are made to continue optimising fintech and
compliance policies. This would help in identifying and managing Simon Gleave
new or systemic risks in a timely and effective manner. Regional Head of Financial
Services, KPMG Asia
Pacific
3
01
Disruptions & Breakthroughs
Disruptions and Breakthroughs
金电联行
Integrated Product Consumer

Credit cards financial services lending Housing/car
Intelligence loans
Bills
Payment Risk
Robo-
Data pricing Blockchain
research
Robo-
Insurance Precision advisory Personal
marketing Risk Anti-fraud finance
Credit
Leasing control
Wealth loans
Transactions
Pledged loans management
Note: Companies are listed in no particular order. This is not a full list of companies. For reference only.
5
The Fintech Ecosphere
Fintech
startups
Licensed
Regulators financial
institutions
Venture
Professional capital
associations institutions
The Fintech
Ecosphere
Academic
and research Regional
institutes governments
Professional Incubators
services and
providers accelerators
6
02
Overview
Overview
About KPMG China Leading Fintech 50
Every year, KPMG International publishes the KPMG Global Fintech 100, which highlight the world’s leading
and emerging fintech companies*.
In order to support and promote the further development of fintech in China, KPMG launched the inaugural
China Leading Fintech 50 in 2016. The positive reaction to the 2016 edition led to a follow-up, with KPMG
launching the second China Leading Fintech 50 in May 2017. Following months of assessment, results for the
2017 China Leading Fintech 50 were published at the end of the year.
Standards
Companies included were either non-financial institutions or non-
traditional financial institutions that are actively involved in developing
new technologies for the financial services industry; their principal
business activities and target client groups are located in mainland
China. We encourage companies listed in this report to engage us by
visiting the KPMG China website and follow us on social media.
Selection Committee
Ｄａｔａ　ｃａｐａｂｉｌｉｔｉｅｓ　–
ｍｏｄｅｌｌｉｎｇ／ｃｏｌｌｅｃｔｉｏｎ
／　ｍｉｎｉｎｇ／ｅｘｅｃｕｔｉｏｎ Our selection committee is comprised of external professionals and
Ａｐｐｌｉｃａｔｉｏｎ　
Ｂｕｓｉｎｅｓｓ　 representatives from KPMG China as well as from KPMG Global, with
ｍｏｄｅｌ　
ｏｆ　ａｄｖａｎｃｅｄ　
ａｎｄ　
ｉｎｎｏｖａｔｉｏｎ　ａｎｄ　 expertise in IT, data, capital markets, venture capital, risk control,
ｄｉｓｒｕｐｔｉｏｎ　ｖｓ．　
ｉｎｎｏｖａｔｉｖｅ　
ｔｅｃｈｎｏｌｏｇｉｅｓ
ｔｒａｄｉｔｉｏｎａｌ　 finance, macro-economics and financial services.
ｆｉｎａｎｃｉａｌ　
ｓｅｒｖｉｃｅｓ　
Criteria Selection criteria

Ｄｅｖｅｌｏｐｍｅｎｔ　
ｐｏｔｅｎｔｉａｌ　ａｎｄ　
Ａｄｄｒｅｓｓｉｎｇ　
ｐｒｏｂｌｅｍｓ　ａｎｄ　
KPMG believes that innovation is key to
ｆｕｔｕｒｅ　
ｐｒｏｓｐｅｃｔｓ
ｉｓｓｕｅｓ　ｉｎ　
ｆｉｎａｎｃｉａｌ　　
addressing problems and enhancing the
Ｖａｌｕａｔｉｏｎ　ａｎｄ　
ｓｅｒｖｉｃｅｓ
efficiency of the financial services sector. Our
ｒｅｃｏｇｎｉｔｉｏｎ　
ｆｒｏｍ　ｃａｐｉｔａｌ　
selection criteria reflect this with technology
ｍａｒｋｅｔｓ and innovation among the key considerations.
Using KPMG’s Startup Insights Platform
(SIP), enterprises were assessed based on a
variety of factors such as company
composition, technology, products, markets
and financing capabilities.
The selection process began in May 2017.

Following months of assessment, the final list was
published in December 2017, with companies
arranged in alphabetical order based on their
Chinese Pinyin names.
Note: KPMG, in conjunction with H2 Ventures, publishes the annual KPMG Global Fintech 100 report. H2 Ventures is
a fintech investment firm.
8
Overview
The following is a breakdown of the China Leading Fintech 50 companies:
Sector
Ｂｌｏｃｋｃｈａｉｎ 2
Ｉｎｓｕｒｔｅｃｈ 2
Ｗｅａｌｔｈ　ｍａｎａｇｅｍｅｎｔ　ａｎｄ　ｃａｐｉｔａｌ　ｍａｒｋｅｔｓ 5
Ｐａｙｍｅｎｔ　ｔｅｃｈｎｏｌｏｇｙ 6
Ｉｎｔｅｇｒａｔｅｄ　ｆｉｎａｎｃｉａｌ　ｔｅｃｈｎｏｌｏｇｙ 6
Ｌｅｎｄｉｎｇ，　ｃｏｎｓｕｍｅｒ　ａｎｄ　ｓｉｔｕａｔｉｏｎａｌ　ｆｉｎａｎｃｅ 11
Ｂｉｇ　ｄａｔａ　ａｎｄ　ｄａｔａ　ａｎａｌｙｔｉｃｓ 18
0 2 4 6 8 10 12 14 16 18 20
Big data and data analytics companies are the largest group within the China Leading Fintech 50, followed by
lending, consumer and situational finance companies. The prominence of big data and data analytical
companies are unsurprising given fintech's status as a critical developmental focus for the financial industry.
Many of the companies focus on advanced data technology application, research and development.
Location
14
Shanghai
21 1 4 Hangzhou
Fintech is a knowledge-oriented field
that brings together top professionals
from the IT and finance industries. Tier-
Beijing Suzhou one cities, such as Beijing, Shanghai,
Guangzhou and Shenzhen, enjoy
greater advantages in training, attracting
and retaining talent. Consequently, the
majority of the China Leading Fintech
8 Shenzhen
1Changsha Chongqing
1 50 companies are based in these cities.
9
Overview
Technology
48 47
40
31
32
24 21 19
16 14
16
7 7
8 2
0
Total
Most breakthroughs in finance are achieved through technology and innovation. For example, precision
marketing makes use of big data technology to identify clients’ various needs by conducting multi-dimensional
analysis on individual users. Biometrics can be applied to verify user information to prevent identity theft, while
machine learning technologies can be used to identify abnormal transactions via deep learning algorithms. Big
data is the most commonly adopted technology by companies on the list.
Proportion of technical personnel
10%
2%
8% Technological research, development and
application is a key component of a
company's core competitiveness. As a result,
technical staff makes up a large portion of the
workforce for companies on our list. The
prevalence of online, mobile and social media
commerce meant some companies are hiring
fewer marketing and sales staff. Resources
are instead reallocated to hire more technical
80% staff.
10
Overview
Time of incorporation
8% 8%
20%
The majority of the China Leading
32% Fintech 50 companies have a relatively
short history and were incorporated
within the past 10 years. The vibrancy
of this younger generation of
companies is a contributing factor to
32% their innovation capabilities.
1-2years 2-3years 3-5years 5-10years over 10years
Valuation
9%
18%
5%
In recent years, fintech has become a < 10 Billion
key focus among venture capital < 30 Billion
firms, which has prompted the
23% < 70 Billion
valuation of many companies to
< 200 Billion
increase. However, the majority are
still fairly limited in terms of size and Over 200 Billion
valuation. Unit: RMB

45%
11
Key fintech trends of 2017:
01 Adopting advanced technologies
Continued policy enhancements and technological advancements are providing

support for deep industrial reforms as well as better and more efficient financial
services. However, the financial industry still faces many issues. This includes a
misalignment of financial resources with the real economy, low quality and ineffective
promotion of financial products, cumbersome and costly financial services, and a
inadequate consumer and investor education as well as protection against fraud.
At the same time, advanced technologies such as cloud computing, Internet of
Things, big data, biometrics, blockchain and AI are also developing rapidly and will
soon be ready for large-scale application.
02 Traditional financial institutions:

Transformation through fintech
Traditional financial institutions are actively incorporating fintech into their businesses.
Technologies such as mobile finance, location-based marketing, big data-based anti-
fraud solutions and customer insights generated through deep learning technologies
are having a profound impact on the industry. Fintech is driving financial institutions to
be efficient and provide less expensive and higher quality services. Consequently, many
are stepping up efforts to incorporate such technologies into their businesses. Since
the start of 2017, many have teamed up with internet companies to enter the fintech
industry. CITIC, for example, partnered Baidu to establish the first independent legal
entity direct bank.
12
03 Establishing a fintech ecosytem
As the market develops, business models that are easily replicable and online financial
institutions with low innovation capabilities will be gradually phased out. Businesses that
are sustainable tend to be fintech enterprises that have strong tech capabilities, which
allow them to provide value to clients and the broader market.
This has shed light on the potential for cooperation between traditional financial
institutions, venture capital funds and fintech startups in establishing a highly efficient and
innovative operating system. These organisations are able to complement one another
through strategic transformations based on market insights, capital allocation capabilities
and innovative technologies. A number of fintech enterprises have formed alliances with
traditional financial institutions in 2017.
04 China fintech: Export transformation
The growth of fintech has accelerated the development of the financial industry. For
example, developments in advanced payment technologies could soon lead to an e-cash
society, which would reinforce China's status as a leading innovator.
The traditional financial industry can benefit from fintech in terms of higher efficiency and
lower costs. One optimal approach for financial institutions looking to expand their online
operations would be to setup strategic links with other organisations. In addition,
emerging fintech enterprises can widen their growth margins and tap into a larger market
through opportunities to export their core technologies.
Many fintech enterprises have successfully transformed into fintech service providers.
This approach enables them to focus their efforts on improving their big data processing
and R&D capabilities, while at the same time, promotes the use of fintech as an effective
solution for the financial sector.
13
05 The rise of AI
AI is poised to bring about a new wave of technological development, with many
industries actively incorporating it into their products and services.
There are already many successful cases of AI integration. Some banks are, for
example, adopting video recognition technology to monitor designated locations,
identify key customers or even suspicious people and behaviours.
The use of AI can help firms provide more customisable services and improve the
security of transactions. In addition, some organisations have deployed physical robots
equipped with speech recognition technology to identify frequent customers, guide
customers, and provide brief business introductions.
Mobile applications using smart chatbot technology can also significantly lower
operational costs. In addition, AI's deep learning and strong data-processing capabilities
is also propelling it into other areas such as robo-advisory, robo-research and financial
knowledge mapping.
06 The ambiguous future of non-tech innovations

Many technology-driven breakthroughs in recent years have boosted the development
of the financial industry.
However, there are companies that still focus on non-tech driven solutions, preferring
to improve margin requirements through conventional process or operational
optimisation. While such methods can bring about short-term financial gains, it is
detrimental to the long-term fostering of innovation. As a result, it is important for the
financial industry to focus their efforts on technology-led innovations instead.
14
07 The importance of customer education
A lack of consumer education can lead to indiscriminate spending given the
complexities of financial products. While the prevalence of fintech has made financial
products more inclusive, this has made public education more challenging. It is critical
for the authorities, regulators and the industry to provide a high level of consumer
education as doing so will not only protect the interests and rights of consumers, but
maintain their confidence in the long-term development of the market.
Fintech enterprises also need to focus on technological innovation to ensure the

security of transactions and information. They can make use of big data and smart
technologies to understand investors’ risk appetite and tolerance as well as conduct
investment suitability assessments. They can also introduce e-customer services to
provide low-cost, high-efficiency education on the risks associated with financial
products, maximising the protection of consumer rights and interests. Moreover,
consumer rights and interests can be strengthened by implementing international best
practices.
08 Establishing an effective regulatory regime

The financial industry faces a number of long-term, potential, material and external risks,
which is why having a robust regulatory regime is essential. Areas with potential risks
include big data application, information security and consumers’ rights and interests
protection.
It is important to understand that having a robust regulatory regime does not

necessarily stifle innovation. One such example is to introduce a fintech regulatory
sandbox, which encourages experimentations and innovation within a well-defined
environment. Organisations need to ensure they are keeping up with the latest
regulatory updates and are in close contact with regulators.
15
09 A comprehensive approach to financial risk
management
The 19th National Congress of the Communist Party of China highlighted that priority
would be given to strengthen financial reforms, improve the regulatory regime and
guard against systemic risks in order to enhance the financial industry's contribution to
the real economy. The report identified clear development objectives for the financial
industry, placing a huge emphasis on preventing systemic financial risks.
Despite the rapid development of fintech, financial institutions are still facing seven
major risks - credit, operational, market, liquidity, compliance, reputational and systemic
– adding to the uncertainty and volatility of the market environment. Financial
enterprises looking to incorporate fintech into their business will need to pay attention
to these risks and create an intelligent and digitalised risk management system.
10 Using fintech to address systemic risks

Systemic risks in the traditional financial industry can be difficult to quantify.
Technology, however, has made risk management more effective. This is important as
systemic risks are on the rise given the appearance of new consumer and finance
models in the era of big data. A number of social issues surrounding indiscriminate
lending have prompted the industry to focus on enhancing the credit reference system.
Technologies such as biometrics, big data and blockchain have opened up the
possibility of establishing a public credit services system. For example, a unique
identification number for individual users can be generated using cross-biometric
identification technology and encryption algorithms.
On the other hand, blockchain and smart contracts can ensure the secure reading of
such information. By integrating individual consumer behaviour records with public
credit platforms, a more comprehensive and secure credit reference database system
can be built. This can be a viable solution for micro-level credit assessment and provide
regulators with tools for real-time data collection, abnormal transaction analysis and
efficient macro-level control over a wide range of data platforms.
Note: The objective of China Leading Fintech 50 is to foster innovation and promote better communication within the
financial services sector. This should not be mistaken for investment advice and is not a formal interpretation of
existing regulatory policies.
16
03
China’s Leading Fintech 50
2017 China’s Leading Fintech 50
*Companies are arranged in alphabetical order based on their Chinese pinyin names.
Short name Page Short name Page
• Baidu FSG 19 • Lufax 44
• Baifendian Group 20 • MSXF 45
• 100credit 21 • Ant Financial 46
• IceKredit 22 • PINTEC 47
• Bubi Chain 23 • Qianbao Financial 48
• Tenpay 24 • QFPAY 49
• Dianrong 25 • iPayLinks 50
• Dingfu Data 26 • Sanoyed Financial 51
• Onchain 27 • Wecash 52
• Riskstorm 28 • ChinaScope 53
• FUMI TECHNOLOGY 29 • RiskRaider 54
• Futu Securities 30 • Suan Hua Zheng Xin 55
• FuYouKache 31 • TalkingData 56
• Chinapnr 32 • TianChuang Credit 57
• HUIZE 33 • BeagleData 58
• Fox Fintech Group 34 • Tongdun 59
• Ping++ 35 • Pay Egis 60
• Jianpu Technology 36 • Datayes 61
• 3GOLDEN 37 • WACAI 62
• JINFUZI 38 • VZOOM CREDIT 63
• JD Finance 39 • WeBank 64
• Juxinli 40 • WeLab 65
• 99Bill 41 • 51 Credit Card 66
• Tiger Brokers 42 • YRD 67
• QuantGroup 43 • ZhongAn Insurance 68
18
概况
Overview
Tags: Consumer finance,
wealth management, fintech,
AI
Headquarters location:
Beijing
Year of incorporation: 2015
Website:
百度金融旗下品牌 https://jinrong.baidu.com/
Sector / Business scope:
Integrated financial services
Application(s): Baidu Wallet,
Baidu Finance
Company description
Part of Baidu's strategic drive into integrated financial services, Baidu Financial Services Group (Baidu Finance) was
formed by integrating all of the internet giant's financial businesses and is headed by Zhu Guang. Baidu Finance
provides a variety of services, including consumer finance, financial management, e-wallet payment, internet banking
as well as insurance. Baidu Finance has seven strategic focus when it comes to the development of fintech, including
identification, big data risk control, smart investment consulting, intelligent customer service, financial cloud services
and blockchain. It strives to incorporate fintech such as AI into the financial industry in order to promote the concept
of inclusive finance.
Core technologies
Big data
Machine Quantitative Smart
Blockchain
Cloud Precise Smart Proportion of
/deep model investment computing marketing assistant
learning consulting technical personnel
Strategic investors
Completed financing: Not disclosed Valuation

Baidu Not disclosed
Key personnel
General Manager: Zhu Guang
Product Director: Sun Yunfeng
General Manager, Asset Management: Zhang Xuyang
Head, Research: Xu Dongliang
General Manager, Consumer Consumption: Huang Shuang
© 2017 KPMG Huazhen LLP — a People's Republic of China partnership, KPMG Advisory (China) Limited — a wholly foreign owned enterprise in China, and KPMG — a Hong Kong partnership,
are member firms of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. © 2017 KPMG,
a Macau partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights
reserved.
19
概况
Overview
Tags: Big data, AI, modeling
analysis, machine / deep
learning
Headquarters location: Beijing
Website:
http://www.baifendian.com/
Finance, public affairs
Application(s): BD-OS (Big
data operation system), DEEP
MATRIX (Industrial AI decision-
making system)
Company description
Baifendian Group focuses on providing big data and AI solutions. It owns several big data and AI product lines as well
as a number of software and patents. The company has also created an industrial application model library and
industrial knowledge graph library in China. The company’s primary objective is to establish an underlying technology
platform for big data and intelligent application scenarios. Its products encompass leading companies across a variety
of industries such as finance, manufacturing, public affairs and publishing. It is also among the first to establish a
nationwide big data and AI system.
Core technologies
Machine Natural Knowledge
IoT Proportion of
Big data /deep language graph
learning processing technical personnel
Strategic investors
Series D financing completed Valuation

IDG, Hillhouse, Everbright Securities, Zhejiang Daily Media
Key personnel
Chairman & CEO: Su Meng
COO: Liu Yu
Chief Data Officer: Du Xiaomeng
President, Enterprise Business: Gao Tiwei
VP, Enterprise Business: Liang Peiming
reserved.
20
Overview
Tags: Big data, anti-fraud, risk
management, marketing
Website:
http://www.100credit.com/
Fintech, big data risk
management
Application(s): Compass, User
Assessment, Anti-fraud
Company description
100Credit is an integrated platform provider that harnesses the power of AI, big data, cloud computing and other
innovative technologies. The company is headquartered in Beijing Zhongguancun and has branches in Shanghai,
Shenzhen, Wuhan and other cities in China. Its clientele includes banks, consumer finance companies, fintech
enterprises and small loan firms. The company’s main advantages are its strong commitment to providing credit
services to customers as well as its big data processing and modelling capabilities. 100Credit provides users with
services that allow them to manage the entire cycle of a loan. In addition, helps insurers achieve precision marketing
by providing one-stop services across both online and offline channels.
.
Core technologies
Machine Knowledge Cloud Proportion of
Big data /deep graph computing
learning
technical personnel
Strategic investors
Series B+ financing completed Valuation
Hillhouse, CICC, Sequoia, IDG Capital Partners, CHAMC, Shuanghu, Zhejiang Daily Media,
Union Mobile Financial Technology
Key personnel
Chairman & CEO: Zhang Shaofeng
CFO: Zhao Hongqiang
CRO: Qi Yuan
reserved.
21
Overview
Tags: AI, credit investigation, big
data, fintech
Headquarters location: Shanghai
Website: http://www.icekredit.com
Sector / Business scope: AI-based
big data risk management
Application(s): Personal /
Corporate Credit Assessment
(web), Consumer Credit Solutions
(web),
Model Management System (web)
Company description
Ice Kredit focuses on using AI technology to provide third-party big data risk management services for financial
institutions. The company is headquartered in Shanghai and has branches in Nanjing, Shenzhen, Beijing, Changzhou,
Chengdu and Los Angeles. Ice Kcredit actively explores the application of AI technologies and provides customers with
model-based, real-time scoring, risk management solutions. It strives to improve the efficiency and revenue-generating
capabilities of financial institutions. In addition, Ice Kredit aims to better meet the credit needs of SMEs and those in the
long tail in order to create financial services that are more inclusive. Ice Kredit cooperates with a number of traditional
financial institutions and internet financing platforms in China, and uses AI in its credit investigations.
Core technologies
Machine Quantitative Natural Knowledge Proportion of
Big data /deep model language graph
learning processing
technical personnel
Strategic investors
Series A financing completed Valuation
Frees Fund, Yunqi, Will Hunting, China Creation Ventures, Lingfeng Capital
Key personnel
Founder & CEO: Gu Lingyun
VPs: Guo Zhipan, Han Bing, Xie Minqi
reserved.
22
Overview
Tags: Blockchain, intelligent
contracts, fintech, blockchain
infrastructure services BAAS,
model Innovation
Beijing
Website: http://www.bubi.cn/
Blockchain
Application(s): Bumeng
Digial Assets (App+Web),
Yinuo Finance (App+Web)
Company description
Bubi Chain is a fintech company that specialises in blockchain. The company owns a number of core patented
technologies, which allow it to develop a scalable, high-performance and controllable blockchain-based service platform.
Bubi Chain also has the ability to develop business applications that meet the needs of a large variety of users.
Leveraging on the strength of its self-developed platform, Bubi Chain has successfully applied blockchain technologies
on digital assets and supply chain finance.
Core technologies
Proportion of
Blockchain Big data
technical personnel
Strategic investors
DL Capitals, Yizhuang Internet, Jieshi Investment, QF Capital, China Merchants Innovative,
Sinovation Ventures, Wanxiang Fenbushi Capital, Xinlian Venture, Vangoo Capital, Bojiang
Capital, Grand Yangtze Capital, Buchang Pharma
Key personnel
Co-Founders:
CEO: Jiang Hai
COO: Li Jun
CTO: Wang Jing
VP: Zhang Mingyu VP: Yang Fan
reserved.
23
Overview 概
Tags: Big data, payment,
payment ecology
Shenzhen
Website:
https://www.tenpay.com/
v3/
Payment
Application(s): Tenpay
Company description
Tencent’s third-party payment platform in China, Tenpay is dedicated to providing secure, convenient and professional
online payment services for internet users and companies. Established in 2005, Tenpay's focus is on the security and
convenience of its products and services. It offers a variety of services and application scenarios for individual users as
well as professional capital settlement solutions for larger and medium-sized enterprises. This includes quick
settlement, balance payment, instalment payment, entrusted withholding, epos payment and micropayment. The
company serves a wide range of industries such as gaming, aviation, e-commerce, insurance, telecommunications,
logistics and fund management.
Core technologies
Mobile Proportion of
Big data computing
technical personnel
Not disclosed
Strategic investors
Valuation
Tencent Not disclosed
Key personnel
CEO: Lai Zhiming
reserved.
24
概况Overview
Tags: Internet finance, P2P,
fintech, blockchain
Shanghai
Website:www.dianrong.com
Online intermediary lending
service
Application(s): Dianrong
Invest
Company description
Dianrong provides innovative fintech solutions, with a particular focus on services pertaining to online intermediary
lending. The company operates an online intermediary lending services platform, which helps individuals and
companies obtain funding through the internet. Dianrong has helped many borrowers obtain financial support from
investors across the country. Dianrong leverages on its tech capabilities to reduce the costs of marketing, operations,
services and post-loan management, which enables it to provide loan products with lower interest rates. The company
is backed by investors in China and globally. Dianrong is one of 48 managing directors of the National Internet Finance
Association of China (NIFA), which was established in 2016.
Core technologies
Proportion of
Big data Blockchain
technical personnel
Strategic investors
Series D financing completed Valuation
GIC, CM International Financial Leasing, Simone Investment
Key personnel
Chairman: Su Haide
Co-Chairman: Guo Yuhang
CEO: Luo Longxiang
reserved.
25
Overview
Tags: Intelligent financial
group, natural language
processing, fintech,
knowledge graph, AI
Location: Beijing
Website:
http://www.dingfudata.com/
Sector / Business scope: Big
data, AI
Application(s): PDFree (Web)
Gonggaobao (Web)
Company description
Dingfu Data aims to transform the financial industry with technology. The company focuses on using big data and AI
technologies to provide an efficient, convenient and professional financial analysis platform for financial investment
institutions.
The founders of Dingfu Data boasts plenty of experience in the internet and financial industries. Its technical staff
were mostly hired from internet companies and are therefore, highly knowledgeable in areas such as information
processing and data analysis. The company has also trained and put together a team of professionals with deep
knowledge of finance.
Core technologies
Machine Natural Knowledge Cloud Proportion of
Big data /deep language graph computing
learning processing
technical personnel
Strategic investors
Sequoia, Lingfeng Capital
Key personnel
Founders: Wu Xuehua, Zhang Lianghua, Guo Dan
reserved.
26
Overview
Tags: Blockchain, fintech
Shanghai
Website:https://onchain.com/
Blockchain
Application(s): Ontology
Network, Onchain DNA
Company description
Onchain is a fintech company that develops and operates a number of blockchain projects. In addition, the company
provides customised blockchain solutions for financial institutions and other corporates. Since its inception in 2016,
Onchain has successfully cooperated with a number of core financial institutions, banks and brokerage companies. In
2017, Onchain released the Ontology Network - a next generation blockchain network for distributed trust. Ontology
Network incorporates multiple trust types into a single integrated protocol system. The system incorporates distributed
identity verification, data exchange, data collaboration, procedure protocols, communities, attestation and various
industry-specific modules. This results in a P2P trust network that is cross-chain, cross-system, cross-industry, cross-
application and cross-device.
Core technologies
Quantitative Cloud Proportion of
Big data model Blockchain computing
technical personnel
Strategic investors
Series Pre-A financing completed Valuation
Fosun
Key personnel
CEO: Da Hongfei CTO: Zhang Zhengwen
Chief Architect: Li Jun
General Manager, Beijing: Li Yanbo
VP, Business Development: Yang Wentao
reserved.
27
Overview
Tags: AI, big data, natural
language processing, SaaS,
credit investigation, risk
management
Shanghai
Website:
www.riskstorm.com
Fintech
Application(s): Riskstorm
(App, Web, serviceID)
Company description
Riskstorm is an AI-based business information analysis and risk control system that encompasses business, litigation,
taxation, administrative penalties, investment and financing, changes in senior management and news events.
Riskstorm contains the business registration information of a large number of companies as well as administrative
announcements, trial processes, corporate information disclosures and media reports. The data are subsequently
sorted and analysed to form well-organised corporate information.
Riskstorm's clientele includes a number of Fortune 500 companies, financial companies, conglomerates and
government agencies, which use the information for corporate due diligence, risk control, compliance audits, judicial
enquiries, industry research and to screen for business and investment opportunities.
Core technologies
Cloud Proportion of
Big data computing
technical personnel
Strategic investors
Series A+ financing completed Valuation
Dongsu Venture Capital, Xinnuo Xinshan, Coco Space, Ronglian,
Ruisheng Jiaye
Key personnel
Co-Founder & CEO: Li Zhen
Co-Founder & CTO: Zhao Yingbin
Co-Founder: Ji Min
Co-Founder & VP: Jin Qi
reserved.
28
Overview
Tags: Fintech, securities
investment, investment
advisory, wealth management
Changsha
Year of incorporation:
2016
Website:
http://www.webull.com/
Fintech, internet securities
Application(s): Webull
Company description
Fumi Technology’s Webull integrates data and financial technology to deliver data and transactional services to
investors worldwide. Webull cooperates with many exchanges, index companies globally, and operates data centers in
China and the US. It runs a global data system that provides real-time data from different countries/regions, exchanges,
categories and underlying targets. Currently, Webull provides trading services in the US, Hong Kong and many other
securities markets globally. The system supports the trading of stocks, ETFs and CFDs.
Core technologies
Cloud Quantitative Proportion of
Big data computing Blockchain model
technical personnel
Strategic investors
Xiaomi Technology, Shunwei Capital, Hongdao Capital, Mobai Capital, Bojiang Capita, Lugu
High-Tech
Key personnel
Founder & CEO: Wang Anquan CTO: Chen Bo
CMO: Anthony M. Denier Chief Data Officer: Li Weibo
COO: Yuan Jun Chief Compliance Officer: Lu Sheng
reserved.
29
Overview
Tags: Data driven, model
innovation, trading platform
Headquarters location: Hong
Kong, Shenzhen
Website:
http://www.futu5.com/
Internet securities
Application(s): Futunn
Company description
Futu securities is a broker licenced by the Securities and Futures Commission of Hong Kong that focuses on providing
one-stop investment services in Hong Kong and the US. Futu Securities actively incorporates internet financial
technologies into its brokerage services.
Supported by an independently developed trading system and an innovative internet model, Futu Securities strives to
provide the best user experience when it comes to account opening, capital flows update, market price data, trading
and settlement. Futu Securities also works closely alongside HKEx and NASDAQ, which allows its clients free access
to advance real-time data for both markets.
Core technologies
Cloud Mobile Proportion of
Big data computing computing
technical personnel
Strategic investors
Series C financing completed Valuation
Tencent, Matrix Partners China, Sequoia
Key personnel
Founder & Chairman: Li Hua
CEO: Wu Biwei
CTO: Chen Weihua
reserved.
30
Overview
Tags: Model innovation,
trading platform, online quote,
big data, AI
Beijing
Website:
http://www.fuyoukache.com
Internet+logistics
Application(s): Fuyoukache
(App+Web)
Company description
Fuyoukache is an internet trading platform focusing on the logistics industry. From its early roots as a logistics
information provider, Fuyoukache has since developed into a large-scale online logistics trading platform in China.
It now supports the provision of loan guarantees for logistics brokers, discounts on receivables for third-party logistics
companies and truck aftermarket for truck drivers. Through the use of big data, mobile Internet and AI technologies, it
aims to reduce logistical costs, improve operational efficiencies and provide services of a consistently high quality.
Core technologies
Cloud Machine Proportion of
Big data computing /deep
learning
technical personnel
Strategic investors
Tencent, Matrix Partners China, Sequoia
Key personnel
Founder & Chairman: Li Hua
CEO: Wu Biwei
CTO: Chen Weihua
reserved.
31
Overview
Tags: Payment, wealth
management, data, fintech,
operational risk management
Shanghai
Website:
http://www.chinapnr.com/
Payment, fintech
Application(s): Integration
Payment, Smart POS, SKY,
Smart Investment Consulting
Company description
Chinapnr is an integrated financial services group in China that uses technology and data to create value for its
customers. It focuses on providing payment, financial management, consumer finance and other financial services to
small and micro enterprises and individual investors. Chinapnr offers customised solutions in areas such as aviation,
funds, online loans, private equity, logistics, health and education. It is an executive director of the China Payment and
Settlement Association and director of the National Internet Finance Association of China.
Core technologies
Big data computing /deep Biometrics
learning
technical personnel
Strategic investors
Not disclosed Valuation
Not disclosed
Key personnel
Chairman, CEO & Founder: Zhou Ye
Vice Chairman & Founder: Liu Gang
SVP & Founder: Mu Haijie
reserved.
32
Overview
Tags: Internet insurance, AI,
fintech
Shenzhen
Website:
https://www.huize.com/
Business: Internet insurance
Application(s): Huize
Company description
Huize works with a number of insurers to provide a wide range of insurance products. Its products include accident
insurance, health insurance, life insurance, corporate insurance, auto insurance and home insurance. By integrating
internet technologies into its services, Huize provides insurance consultation, risk assessment and customised
insurance plans. It also offers online vertical trading and claims assistance services. Headquartered in Shenzhen, Huize
has branches in Beijing, Guangzhou, Shanghai, Hefei and Hong Kong. Its first supporting center for its national internet
insurance platform was set up in Hefei.
Core technologies
Big data computing /deep
learning
technical personnel
Strategic investors
Series B financing completed Valuation
Saif Investment Fund, Wanrong Times Capital, CDF Capital, Lakala, Fortune Capital
Key personnel
Founder & CEO: Ma Cunjun
VP: Jiang Li
CTO: Ouyang Kai
reserved.
33
Overview
Tags: Smart financial group,
consumer finance, internet
banking, online lending,
fintech
Beijing
Website: http://www.huli.com
http://www.souyidai.com
fintech
Application(s): Huli, Xiaohujr
Company description
The financial technology arm of Sohu, Fox Fintech Group started as an online lending platform – “Souyidai”. The
company’s objective is to “make finance simpler”. Fox Fintech adopts technologies such as big data, blockchain, AI and
machine learning to spur innovation within financial services. This approach allows it to improve operational efficiency
as well as the user-experience of its services through better risk control, improved investment decision-making and
enhanced platform security. Fox Fintech operates a number of online platforms such as Huli.com (Integrated financial
services), Souyidai.com (Lending) and Xiaohujr.com (Consumer finance). It also provides risk management services for
various businesses of the Group using “Fengren”, a risk system powered by big data and AI technology.
Core technologies
Big data computing /deep Biometrics Blockchain
learning
technical personnel
Strategic investors
Sohu, China Minsheng Bank, L.R. Capital Management
Key personnel
Founder & CEO: He Jie
Co-Founder & CTO: Zhou Lin
CRO: Fan Hongxue
reserved.
34
Overview
Tags: Integration payment,
payment ecology, SaaS,
fintech
Shanghai
Website:
http://www.pingxx.com/
Integration payment
Application(s): Ping++
Company description
Ping ++ is the payment arm of Shanghai Ping ++ Internet Technologies Co., Ltd. It provides customised payment
solutions for a large number of businesses in retail, e-commerce, O2O, education, travel and SaaS. Ping ++ simplifies
the process for mobile payments and consumption installments by integrating the functions of payment technology,
daily transaction management, account management, multi-level business model, user account system and big data
analysis. Ping ++ cover all major processes from payment, transaction processing, business analysis to operations and
big data marketing.
Core technologies
Big data computing /deep Blockchain
learning
technical personnel
Strategic investors
Sequoia, Linear Venture, CBC Capital, Shengjing Group
Key personnel
CEO: Jin Yiye
VP: Zhao Yu
reserved.
35
Overview
Tags: Big data, AI, fintech
Beijing
Website: jianpu.ai
Information service
Application(s): Rong360
Company description
Jianpu Technology is a mobile financial platform that provides search, recommendation and application services for
financial products to individual consumers and small and micro enterprises. Its business scope covers loans, credit
cards and wealth management. In addition, Jianpu Technology provides users with convenient and secure financial
information for free, allowing users to check, compare and directly apply for loans/credit cards. The financial products
on the platform are from a variety of sources such as banks, small loan companies, guarantee companies and pawn
shops.
Core technologies
Mobile Machine Proportion of
Big data computing /deep AI
learning
technical personnel
Strategic investors
Listed on New York Stock Exchange in 2017 Valuation
Lightspeed China Partners, KPCB, Zero2IPO, Sequoial, Pavilion Capital, Yunfeng Capital,
Sailing Capital, Star VC
Key personnel
Co-Founder & CEO: Ye Daqing
Co-Founder & COO: Lu Jiayan
Co-Founder & CTO: Liu Caofeng
CFO: Chen Yilu
reserved.
36
金电联行
Overview
Tags: Big data, quantitative
model, credit assessment
Website:
http://www.3golden.com/
Big data
Application(s): One-stop credit
investigation platform, risk
quantitative platform, investment
and financing platform, data
factory
Company description
3Golden Beijing focuses on integrating IT with financial and social credit services. It is one of the first companies
approved by the People’s Bank of China to carry out credit investigations across China. The company engages in the
collection and analysis of corporate, individual and financial information, and is one of the pioneers in applying big data
analytics to credit references. The company has made a number of achievements in analysing financial, government
and industrial big data. Headquartered in Beijing, 3Golden has branches in cities such as Shanghai, Tianjin, Hangzhou,
Nanjing, Guiyang and Changchun. In addition, it has four research centers with universities, including Peking University
and Fudan University. Their cooperation includes cross-border big data and AI projects.
Core technologies
Cloud Machine Knowledge Proportion of
Big data computing /deep graph
learning
technical personnel
Strategic investors
Dingxin Capital, Leading Capital, Zhongcheng Fund
Key personnel
Founder, Chairman & CEO: Fan Xiaoxin
Co-Founder & SVP: Zhu Zhiwei
Deputy VP: Ai Bin
reserved.
37
Overview
Tags: Big data, quantitative
model, cloud service
Shenzhen
Website: http://www.jinfuzi.com/
Internet wealth management
Application(s): JFZ, Jinfuzicf
Company description
JFZ is an online financial company that provides professional and independent financial services for high net worth
investors, with ambitions to become the largest private offering and service platform in China.
It seeks to find investment opportunities across a variety of products and asset classes, including private equity, private
placements, quantitative hedging, M&A, overseas funds and fixed income. The expanded nature of its product list helps
to meet the asset-allocation needs of its high net worth customers. In addition, JFZ provides a suite of online services
such as price searches, net value queries, financial booking, online and offline roadshows.
Core technologies
Quantitative Mobile Proportion of
Big data model computing
technical personnel
Strategic investors
Sequoia, Renren, Huaxi Holding, CMG, Green Pine Capital, Bridge Capital, Hanjing,
Zheng Liqing
Key personnel
CEO: Zhang Kaixing
COO: He Kunpeng
CTO: Jiang Mingyu
reserved.
38
Overview
Tags: Fintech, corporate
service, financial cloud
Beijing
Website: http://jr.jd.com/
Application(s): JD Finance
(App+Web)
Company description
JD Finance Group has ten business lines: supply chain finance, consumer finance, wealth management, payment
services, crowdfunding, insurance, securities, rural credit, fintech and overseas business, providing financial services to
both corporate and personal customers. JD Finance offers a wide range of financial services worldwide and is one of
the fastest growing fintech companies globally. It has received the recognition of the international academic field. The
company harbours ambitions to become a world-class technology firm and has received international recognition in
academic research. JD Finance's customer-oriented approach and focus on innovation creates a strong foundation for
promoting inclusive financial services and establishes a solid foundation for the industry's long term growth.
Core technologies
Big data computing /deep Biometrics IoT
learning
technical personnel
Strategic investors
Sequoia, HFM, China Taiping
Key personnel
Chairman: Liu Qiangdong
CEO: Chen Shengqiang
reserved.
39
Overview
Tags: Big data, risk
management, modelling
analysis, credit assessment,
anti-fraud
Shanghai
Website: www.juxinli com/
data risk management
Application(s): Mifeng,
Miguang, Xiaomifen, Joint
Modelling
Company description
Juxinli is a fintech services platform powered by big data technologies. It helps financial institutions collect, integrate
and analyse information obtained from the internet. It would then create risk control solutions by harnessing the power
of big data analytics.
Juxinli’s products include Mifeng, Miguan, Xiaomifen and Joint Modelling, which help to assess the fraud and credit
risks of potential borrowers. For example, the reports created by the applications can identify whether a borrower has
obtained loans from other sources or committed fraud previously. A borrower would then be assigned a credit rating
based on the information gathered.
Core technologies
Cloud Machine Knowledge Proportion of
Big data computing /deep graph
learning
technical personnel
Strategic investors
Xizang Lingfeng, Xiamen Hongguan, Guizhou Shulian
Key personnel
Founder & CEO: Luo Hao
COO: Yu Haomin
CTO: Xu Zhilin
CDO: Xue Ruidong
reserved.
40
Overview
Tags: Fintech, big data,
payment ecology, mobile
payment, IoT
Shanghai
Website:
http://www.99bill.com/
Internet finance
Application(s): Ffan
Company description
Leveraging on the technology of parent Wanda Group, 99Bill operates an integrated fintech services platform that is
driven by data analytics and context-aware computing. This combination of advanced technologies enables 99Bill to
better target the emerging middle class population in China and capture the opportunities brought about by the ongoing
mobile revolution. 99Bill integrates payment, wealth management, credit and equity into a single platform, providing
customers with an integrated and personalised experience. Together with Wanda, 99Bill is working towards expanding
its services to more industries.
Core technologies
Cloud Machine Mobile Proportion of
Big data computing /deep Biometrics IoT computing
learning
technical personnel
Strategic investors
Valuation
Wanda Group
Key personnel
Founder: Guang Guoguang
VP: Wang Liang
CEO & GM: Zhao Ruian
Associate VP: Dang Xiaoqiang
reserved.
41
Overview
Tags: Securities trading,
investment
Beijing
Website:
http://www.itiger.com/
Internet securities
Application(s): Tiger Trade
Company description
Based in Beijing, Tiger Brokers relies on a self-developed trading platform that allows its customers to execute trades
conveniently and access market data easily. The platform is designed to improve the efficiency of financial services by
facilitating investment in major securities markets globally such as US and Hong Kong through the use of its
application, Tiger Trade. Tiger Trade has multiple functions such as account opening, free real-time quotations, news
updates and swift order placements. In addition, the application is also a platform for investors to hold discussions.
Core technologies
Big data computing model Blockchain
technical personnel
Strategic investors
Series B+ financing completed Valuation
Zhen Fund, K2VC, Xiaomi, HG Capital, China Growth Capital, Jim Rogers, Interactive Brokers
Key personnel
Founder & CEO: Wu Tianhua
Co-Founder: Yang Ke
reserved.
42
Overview
Tags: AI, big data, quantitative
model, cloud services
Beijing
Website:
http://www.quantgroup.cn
Sector / Business scope: AI
Application(s): Credit Wallet,
Quant Shield, Quant Cube
Company description
Quant Group is a technology firm that brings together financial institutions and consumers through the use of AI and
big data technologies. By incorporating AI and machine learning technologies with consumer finance, Quant aims to
provide a wide range of financial services. The company is also an active user of big data analytics to provide accurate
credit risk analysis of different borrowers for its loan distributions business. The core management team of Quant is
made up of financial and internet professionals, providing a strong foundation for the company. The company boasts a
solid credit risk management system, which focuses on internet risk control and anti-fraud. The system is well-received
by industry practitioners. Strategic linkages with a number of top investment firms is a testament to Quant's distinctive
business model.
Core technologies
Big data computing model AI
technical personnel
Strategic investors
Sunshine Insurance, Fosun, Guosen
Key personnel
Founder & CEO: Zhou Hao
CRO: Nian Minhuan
Co-Founder & COO: Wang Ni
CSO: Luo Xiaoxian
CFO: Du Pei
reserved.
43
Overview
Tags: Fintech, wealth
management platform
Shanghai
Website:https://www.lu.com/
Integrated financial services,
internet wealth management
Application(s): Lu.com
Company description
Shanghai Lujiazui International Financial Asset Exchange (“Lufax”) is a renowned online financial management platform
owned by Ping An Insurance. The company aims to develop a solid risk management system that provides financial
asset trading information and consultation services for financial institutions, corporates and investors.
Since its inception in 2012, the flagship Lu.com has developed into an integrated financial platform that provides
services related to fixed and floating income products. This includes insurance, online lending, publicly/privately offered
funds and cash management products.
Core technologies
Cloud Machine Mobile Proportion of
Big data computing /deep Biometrics computing
learning
technical personnel
Strategic investors
BOCGI, Guotai Junan Securities, CMBC International
Key personnel
Chairman: Li Renjie Deputy GM: Mao Jinliang
Co-Chairman & CEO: Ji Kuaisheng Deputy GM & CFO: Zheng Xigui
Deputy GM & CRO: Yang Jun Deputy GM & CMO: Pan Biao
reserved.
44
Overview
Tags: Fintech, AI, big data
Chongqing
Website:
http://www.msxf.com/
Consumer finance
Application(s): Msxf, MS
Loan, MS Installement, MS
Wallet, An Yi Fa, Zhi Hou Hua,
GoFun
Company description
MSXF Consumer Finance Corporation (MSXF) is a financial institution that is also a big data, fintech-focused startup.
MSXF's customer-oriented approach revolves heavily around efficiency, integrity and innovation. It primarily offers
three types of services: cash instalments based on customer acquisitions, instalments for goods on credit, and
revolving loans that incorporates the use of big data analysis. The use of advanced technologies, data analytics and a
well-constructed risk control system allow MSXF to offer a superior user-experience, propelling it to become a leading
technology-driven consumer finance firm.
Core technologies
Machine Knowledge Mobile Proportion of
Big data Blockchain /deep graph computing
learning
technical personnel
Strategic investors
Financing completed： Valuation
Second round of capital replenishment completed Not disclosed
Key personnel
Founder & CEO: Zhao Guoqing
CFO & COO: Guo Jianni
CRO：Tomas
CTO: Jiang Ning
Executive Assistant of CEO: Valeriy
reserved.
45
Overview
Tags: Integrated financial
holding, consumer finance,
payment, credit investigation
Hangzhou
Website:
http://www.antgroup.com/
Application(s): Ant Fortune,
Aliloan, Alipay, Sesame Credit,
Ant Financial Cloud
Company description
Ant Financial is a financial services provider that started off in 2004 as Alipay. It was rebranded as Ant Financial in 2014
and the company's portfolio includes Yu'E Bao Services and Sesame Credit. Ant Financial’s mission is to promote
inclusive finance by establishing an open credit system and providing a secured financial services platform for individual
consumers and small and micro enterprises worldwide.
Core technologies
Cloud IoT Proportion of
Blockchain computing AI
technical personnel
Not disclosed
Strategic investors
SSF, PICC, CPIC, China Life, China Post, CDB Capital, Primavera, CIC Capital, CCB Trust
Key personnel
Chairman: Peng Lei
CEO: Jing Xiandong
reserved.
46
Overview
Tags: Fintech, big data, AI,
smarl credit, smart investment
consulting
Beijing
Website:
http://www.pintec.com/
Smart loan, smart investment
consulting, corporate services
Application(s): Du Miao,
Xuanji
Company description
PINTEC is a fintech solutions provider that focuses on big data processing and R&D. The firm aims to provide financial
institutions and corporates with efficient fintech solutions and make financial services accessible for all.
Through its innovative B2B2C model, PINTEC is able to cover a wide range of clients ranging from large MNCs to
SMEs and individual consumers. “PIN” refers to the needle of a semiconductor processor, which is used for
connection. PINTEC strives to be the connector between corporates and financial institutions.
Core technologies
Machine Quantitative Proportion of
Big data Blockchain /deep model
learning
technical personnel
Strategic investors
Ventech, Xiaomi, Shunwei, Investec Bank
Key personnel
Founder & CEO: Wei Wei
CEO, Hongdian Fund: Hu Wei
CFO: Shen Yanling
CEO, Du Miao: Zhou Jing
CEO, Xuan Ji: Zheng Yudong
reserved.
47
Overview
Tags: Context awareness, new
finance, fintech
Beijing
Website: www.qianbao.com
fintech
Application(s): JR.Qianbao,
Qianbao Kahuei, Qianbao Car
Company description
Qianbao Jinfu focuses on developing a convenient and efficient big data platform and fintech ecosystem. The company
incorporates advanced technologies such as context aware with new finance solutions, providing high quality fintech
services to financial institutions, corporates and individual consumers. Its management team comprises of
professionals with banking, consumer finance, asset management, e-commerce and mobile commerce, data
technology, risk management and investment background. The majority are highly experienced, having worked at top-
tier firms.
Core technologies
Big data Blockchain computing model
technical personnel
Strategic investors
Guangdong Homa Appliances
Key personnel
Founder: Zhao Guodong
Deputy GM: Li Yingchen
Board Secretary/Deputy GM: He Shiqiong
Deputy GM/CFO: Yang Ruizhi
reserved.
48
Overview
Tags: Big data, mobile
payment, precise marketing
Beijing
Website:
http://www.qfpay.com/
New retail, big data, mobile
payment
Application(s): Mobile Card
Reader
Company description
QFPayment is a mobile trading company that utilises big data and AI technologies. It focuses on cloud technology and
operates a smart cloud services platform. Established in 2011, the company serves both mainland China and
international clients. It operates and manages a data-based platform to help traditional retailers improve their
businesses. Headquartered in Beijing, it has operations in Shanghai, Guangzhou, Shenzhen, Nanjing, Hong Kong,
Southeast Asia and Japan.
Core technologies
Big data Blockchain computing
technical personnel
Strategic investors
Sequoia, Matrix Partnership China, Zhong Wei, Capita, Whiz
Key personnel
Co-founder & CEO: Li Yinghao
Co-founder & Chairman: Zheng Hangyu
reserved.
49
Overview
Tags: Mobile payment, risk
management, big data
Shanghai
Website:
http://www.ipaylinks.com
Payment
Application(s): Cross-border
online payment solution
(API/SDK)
Company description
Established in Shanghai, iPayLinks has branches in New York, London, Hong Kong and Kuala Lumpur. It aims to
facilitate easy cross-border payments by providing one-stop online solutions such as international credit cards and
localised payments. iPayLinks focuses on technology development and product innovation to provide cross-border
payment solutions to its domestic and foreign customers.
Core technologies
technical personnel
Strategic investors
Fenghuang Xiangrui Internet Investment Funds, Cals Fund
Key personnel
Founder & CEO: Zhen Guogang CTO: Ma Lianhao
CFO: Sheng Mingming Partner: Yuan Mingliang
COO: Zhou Tao VP: Lian Kebing
reserved.
50
Overview
Tags: Finetch, model
innovation, AI, credit
assessment, risk management
Shenzhen
Website:
http://www.smyfinancial.com/
fintech, internet finance
Application(s): Sheng Bei
Company description
Samoyed Financial Services (Samoyed) is a fintech company that offers online financial services to its clients. The
company is registered in Shenzhen. Its first product, Sheng Bei, provides credit card management, promotion
consulting and cross-bank bill payment instalments via low-interest credit cards. It integrates finance with technology,
and provides customised financial services to customers through social data mining, risk control modelling and AI.
Core technologies
technical personnel
Strategic investors
UCREDIT, Fortune Capital, Welight Capital, Vision Capital, CITIC Capital, Yonghua Capital
Key personnel
Founder & Chairman: Lin Jianming
Founder & CEO: Tang Debin
reserved.
51
Overview
Tags: Big data, AI,
machine/deep learning
Beijing
Website:
http://www.wecash.net/
Consumer finance
Application(s): Wecash
Company description
Established in 2014, Wetech's primary objective is to create an open financial services ecology that allows easy access
for corporates and individuals. To further its ambitions, the firm has established a number of R&D offices globally in
order to attract international talent. Its businesses include Wechip (integrated chips), Wecash (the first domestic online
credit assessment platform), Wepig (an agricultural supply chain risk control model and an peasant household credit
assessment system) and Wecash O2O (a context-aware consumer finance solutions).
Core technologies
technical personnel
Strategic investors
IDG, SIG, China Merchants, Forebright Capital
Key personnel
Founder: Zhi Zhengchun CFO: Chen Yanyan
CIO: Li Hao CRO: Tang Xuewei
COO: Fan Qinbin CMO: Wu Hao
reserved.
52
Overview
Tags: Fintech, big data, natural
language processing,
knowledge mapping
Shanghai
Website:
http://www.chinascope.com/
Fintech
Application(s):
AI+information, AI+mapping,
AI+Q&A
Company description
ChinaScope is a fintech company that provides knowledge-driven governance solutions for financial institutions serving
corporate clients. Its main focus is to help clients generate insights from complex data in order to facilitate fast-decision
making.
ChinaScope is built upon a powerful big data engine that pools information from markets and industries around the
globe. Running on natural language processing technologies and a variety of algorithms, ChinaScope can provide clients
with financial solutions across a number of different scenarios.
Core technologies
Machine Natural Knowledge Proportion of
learning processing
technical personnel
Strategic investors
Moody’s Investors, JD Finance
Key personnel
Founder & CEO: Tom Liu
Founder & President: Sean Shen
COO: Chen Yuqi
Director, Data: Lu Zhongming
Chief Scientist: Jia Ning
reserved.
53
Overview
Tags: SaaS, credit
assessment, AI, modelling
analysis, anti-fraud, risk control
Shanghai
Website:
http://www.riskraiders.com/
data credit investigation
Application(s): RiskRaider
（SaaS）
Company description
RiskRaider is an enterprise credit reference agency that provides big data risk control services. The company
specialises in data mining, semantic analysis, machine learning and quantitative modelling for enterprise risk, rating
and warning.
RiskRaider provides comprehensive solutions for client credit investigation, anti-fraud, transmission risk and systemic
risk prevention, post-transaction dynamic risk monitoring and intelligent warning. It seeks to address the rising demand
for effective risk control solutions in industries such as manufacturing, trade, IT and financial services.
Core technologies
Machine Natural Cloud Quantitative Proportion of
Big data /deep language computing model
learning processing
technical personnel
Strategic investors
Zhangjiang Torch VC, Feimalv.com, Shan Qi Investment, Oriental Fortune Capital
Key personnel
Founder & CEO: Zhao Jie VP：Qian Feng
Co-Founder & SVP: Chen Nian Chief Data Scientist: Liao Chenhan
General Manager, Product Development:
Liu Gang
reserved.
54
Overview
Tags: Credit investigation, early
identification of risks, credit
assessment, knowledge mapping,
risk management
Headquarters location: Shanghai
Website:
https://www.suanhua.org/
Intelligent risk control
Application(s): Debt Information
Sharing, Suanhua Credit Rating,
Early Identification of Risks
concerning Credit Application
Company description
Suan Hua Zheng Xin is a professional retail credit risk management services provider. The company consists of a group
of personal credit, risk management and data analytics experts with experience in anti-fraud, non-banking credits,
conventional credit ratings and credit ratings via big data analytics. The company has also established a credit risk
prevention alliance, which provides comprehensive risk management solutions throughout a credit lifecycle via the use
of multi-dimensional data mining. The company's vision is to integrate cutting-edge technologies with the sharing of
credit information to develop risk control products that the market needs.
Core technologies
Machine Natural Knowledge Proportion of
learning processing
technical personnel
Strategic investors
Orient Securities
Key personnel
CEO: Jiang Qingjun
Co-Founder: Lu Xudong, Sun Jian, Xue
Feng
reserved.
55
腾云天下
Overview
Tags: Big data, cloud services,
precision marketing
Beijing
Website:
https://www.talkingdata.com/
data
Application(s): App Analytics,
Smart Marketing Cloud, Ad
Tracking, Data Market、DMP
Plus
Company description
TalkingData is an independent mobile data services platform, which is created based on the company's expertise in
data, technology and consulting. The company is committed to transforming the corporate landscape with smart data
solutions to facilitate better decision making. Its state-of-the-art big data products are powered by a massive proprietary
data set. This includes mobile and gaming analytics, mobile ad-tracking, cloud marketing and consulting. Its clientele
consists of enterprises in both internet and traditional industries.
Core technologies
Machine Cloud Proportion of
Big data /deep computing
learning
technical personnel
Strategic investors
Milestone Capital, SBCVC, Northern Light VC
Key personnel
Co-Founder & CEO: Cui Xiaobo
reserved.
56
Overview
Tags: Risk control, credit
assessment, data-driven, AI,
agriculture, rural areas and
farmers
Beijing
Website:
http://www.tcredit.com/
data credit reference
Application(s): Fengyunjue,
Nongxinhui, Chengxinbang
Company description
Tianchuang Credit is a credit company that focuses on the auto, agriculture and consumer finance sectors. The
company adopts big data analytics to assist clients in building their core risk control capabilities. Tianchuang calls on the
use of data and machine learning, which enhances the efficiency and control of approval procedures for financial
institutions.
The company has also developed an analytics platform for financial institutions to strengthen their risk management
capabilities. By applying its risk control solutions to the agricultural sector, Tianchuang is helping to drive the financial
development of farming and rural areas.
Core technologies
Machine Knowledge Proportion of
Big data /deep Biometrics graph Blockchain
learning
technical personnel
Strategic investors
Angel financing completed Valuation
Yeepay Group, Da Bei Nong Group, Future Science Park
Key personnel
Founder & CEO: Li Wenxian
CTO: Gao Shaofeng CRO: Zhang Yu
CDO: Zhao Qianli
reserved.
57
Overview
Tags: Big data, AI, machine
learning, complex network
Beijing
Website:
http://www.beagledata.com/
data
Application(s): Credit rating,
fraud detection, supply chain
finance, log analysis
Company description
BeagleData develops big data software and distributed AI algorithms. The company has been involved with fintech
since its inception and has partnered with joint-stock banks, insurance companies and online financial companies. Its
banking projects cover a wide range of AI models such as credit fraud detection, application rating, behavioural rating
and overdue receivables collection across an entire loan cycle. Its insurance projects cover data warehouse
consumerisation and precision marketing. As for online finance, its models include revolving guarantees, multiple-bank
borrowing analysis and missing item recovery, which are used for early identification of credit frauds, credit ratings,
consumer finance and supply chain finance.
Core technologies
Machine Distributed Proportion of
Big data /deep computing AI
learning
technical personnel
Strategic investors
Tian Suning, He Weiliang, Guo Yuhang
Key personnel
Founder: Lei Tao Data Science: Tan Kehua
Partner: Li Congwu Distributed Computing: Qiao Wanglong
VP R&D: Xing Jianwei Data Science: Lv Hui
reserved.
58
Overview
Tags: AI, fintech, risk control,
anti-fraud, risk management
Hangzhou
Website:
https://www.tongdun.cn/
Intelligent risk management
Application(s): Tongdun
Technology
Company description
Tongdun Technology is a risk management service provider that specialises in the use of AI technologies. It covers a
wide range of sectors, including banking, microfinance, insurance, fund management, third-party payment, online travel
agencies, e-commerce, O2O, gaming and social media. It strives to become a leading risk management service
provider through constant innovation in order to improve the reliability of its solutions. Tongdun operates in Hangzhou,
Beijing, Shanghai, Shenzhen, Guangzhou, Chengdu, Xi’an and Chongqing.
Core technologies
Machine Cloud Proportion of
AI /deep computing Blockchain
learning
technical personnel
Strategic investors
IDG, China Growth Capital, CBC, Linear Venture, Qiming Venture Partners, Advantech Capital,
Oriza PE Fund, Cinda Asset, Tiantu Capital, Temasek
Key personnel
Founder & CEO: Jiang Tao Co-Founder & CSO: Ma Junqu
Co-Founder: Zhu Wei Co-Founder & CRO: Dong Liuhuan
Co-Founder: Zhang Hao VP, Technology: Zhang Xinbo
reserved.
59
Overview
Tags: Data-driven, AI, anti-
fraud, credit assessment
Suzhou
Website:
https://www.tongfudun.com/
Fintech security
Application(s): Pay Egis, Dun
Cloud
Company description
Pay Egis is a fintech security company that specialises in identity authentication, anti-fraud, credit security and mobile
security. It provides trust-based services for government agencies, banks and third-party payment institutions as well
as online financial, e-commerce and social media platforms. Headquartered in Suzhou, it has operations in Beijing,
Shanghai, Guangzhou, Shenzhen, Hangzhou and Chengdu. Leveraging on its suite of security products as well as AI
and big data analytics capabilities, Pay Egis assists clients in building their self-learning security system to protect
against cybersecurity risks.
Core technologies
Machine Proportion of
Big data /deep Blockchain
learning
technical personnel
Strategic investors
GPCP, Sino-Century, PreIPO Venture Capital, ChinaEquity Group
Key personnel
Founder & CEO: Wang Dejia
CTO: Hu Zhenzhong
CFO: Chen Yi
reserved.
60
Overview
Tags: AI, big data, robo-
advisory, robo-research, SaaS
Shanghai
Website:
http://www.datayes.com/
Intelligent investment
Application(s): RoboR, Uqer,
Robo Advisory Service, MOF
（Web）
Company description
DataYes is founded by a group of highly-experienced finance and IT professionals. Through the use of innovative
technologies and investment philosophies, the company aims to become a world-class financial services platform. The
company is headquartered in Shanghai and has branches in Beijing, Nanjing, Shenzhen and the Silicon Valley.
DataYes’ products include RoboR, Uqer, FOF/MOM management and Robo Advisory Service. The company’s
intelligent investment management platform caters to professional and retail investors alike.
Core technologies
Machine Cloud Quantitative Proportion of
Big data /deep computing model
learning
technical personnel
Strategic investors
Valuation
Wanxiang Group Not disclosed
Key personnel
Founder & Chairman: Xiao Feng
Founder & CEO: Jim Wang
reserved.
61
Overview
Tags: Big data, cloud
computing
Hangzhou
挖财记账挖财钱管家挖财宝
Website
http:/www.wacai.com/
Online finance
Application(s): Ji Zhang,
Guan Jia, Wacaibao, Credit
挖财信用卡管家挖财股神挖财社区 Card Butler, Wacai Community
Company description
Wacai specialises in bookkeeping services, in particular for clients who tend to be omitted from mainstream financial
services. Its bookkeeping and financial management apps are highly popular with individual users and Wacai has
successfully positioned itself as a distinct online asset management platform that serves the wider community. In
2016, the company established an online asset management postdoctoral centre as it seeks to position itself as an
industry think tank.
Core technologies
Big data computing
technical personnel
Strategic investors
CDBII, CBC, New Horizon Capital, QIMING, Ally Bridge Group
Key personnel
Founder & CEO: Li Zhiguo
President: Gu Chenwei
reserved.
62
Overview
Tags: Credit investigation, big
data, AI, quantitative model,
model innovation
Shenzhen
Website:
http://www.vzoom.com/
data credit reference
Application(s): Wei Zhong
Shui Yin
Company description
VZOOM Credits is a big data credit investigation and risk control service provider. It is one of the first in the industry to
be licenced by the Shenzhen municipal government and is partnerships with a number of banks. VZOOM’s public tax
and banking services platform not caters to larger clients, but also small and medium-sized enterprises. In addition, the
company, together with the tax authorities and several lenders, established the country’s maiden fully-automated
corporate financing product approval platform. The has helped drive fintech innovation and the development of inclusive
finance. The company also emphasises on the development of cloud computing and big data technologies.
Core technologies
Big data /deep
learning
technical personnel
Strategic investors
IDG, Homa Appliances, Micro Jinke
Key personnel
Founder & Chairman: Zhao Yanhui
Co-Founder & COO: Zeng Yuan
General Manager & CEO: Geng Xinwei
reserved.
63
微众银行微粒贷微车贷 Overview
Tags: Online banking
Shenzhen
Website:
http://www.webank.com
Online banking
Application(s): Webank
Company description
Established in 2014, WeBank positions itself as a “connector” that brings together the world of finance, technology,
consumer credit and banking in order to meet the needs of its clients. WeBank emphasises on the development of
fintech. Its maintains its competitive edge by constantly improving its AI, blockchain, cloud computing and big data
capabilities. This empowers its partner financial institutions, allowing them to become more tech-savvy, lower costs
and provide better financial services.
Core technologies
Cloud Proportion of
Big data computing Biometrics
technical personnel
Strategic investors
Valuation
Tencent, BYY Investment, Li Ye Group Not disclosed
Key personnel
Chairman: Gu Min
President: Li Nanqing
Chief Supervisor: Liang Yaolan
reserved.
64
Overview
Tags: Technology and finance,
P2P lending, risk control, AI
Shenzhen, Hong Kong
Website: www.wolaidai.com
data risk control
Application(s): WeLab
（Mainland App), WeLend（
Hong Kong Web）
Company description
Founded in Hong Kong, WeLab expanded into the mainland in 2014. It runs a mobile lending platform (WeLab) on the
mainland and a P2P lending platform (WeLend) in Hong Kong. WeLab’s self-developed risk management system can
consolidate and analyse unstructured mobile data, which would then be used to assess the risk levels of clients. This
allows it to come to a quick lending decision. Its services are catered for workers, businesses, micro, small and
medium-sized enterprises, financial institutions and internet platforms.
Core technologies
Machine Mobile Proportion of
Big data /deep computing
learning
technical personnel
Strategic investors
Series B+ and strategic financing completed Valuation
TOM, Sequoia, Khazanah Nasional Berhad, ING, Alibaba Entrepreneurs Fund, CCB
International, IFC
Key personnel
Founder & CEO: Simon Loong
Co-Founder & COO: Wang Guoyi
reserved.
65
Overview
consumer finance, big data, model
innovation, AI
Hangzhou
Website: https://www.u51.com/
Fintech, consumer finance
Application(s): u51 Credit Card
Management, u51 Character, u51
Character Lending, Geinihua
Company description
51 Credit Card is a liability management, financial and technology services provider. In addition, it has an investment
fund that focuses on upstream and downstream enterprises. The company’s goal is to promote inclusive finance. It is
one of the pioneers of the China Internet Financial Association and is a member of the Zhejiang Internet Financial
Coalition as well as the Hangzhou Internet Financial Association.
Core technologies
Knowledge Mobile Proportion of
Big data graph computing
technical personnel
Strategic investors
Series C（C、C+）financing completed Valuation
SIG, Crystal Stream, GGV, JD, MI, Xinhu Zhongbao, Tiantu Capital, Harvest Investments,
Yintai Group, FunCity, HG Capital, Qianhe Capital, Aplus, Guosen H&S
Key personnel
Founder & CEO：Sun Haitao
CFO： Zhao Ke
CRO：Jiang Yanqing
VP： Yang Yuzhi
CTO： Guo Wei
reserved.
66
概况
Overview
consumer finance, data-driven,
risk management
Beijing
Website:
http://www.yirendai.com/
Fintech
Application(s): YRD Lending ,
Yiren Wealth Management
Company description
YRD is an established financial services platform that provides customers with customised credit loan advisory services
and wealth management services. Its Yirendai Enabling Platform (YEP) provides financial institutions, P2P lending
platforms credit assessment, risk control and account-based marketing services. YEP leverages on the firm’s strong
financial data, risk control, anti-fraud and customer acquisition capabilities. Its clientele consists of a number of large
mainland institutions.
Core technologies
Knowledge Mobile Proportion of
Big data graph computing
technical personnel
Strategic investors
Listed on the New York Stock Exchange in 2015 Valuation
CreditEase
Key personnel
Founder: Tang Ning
General Manager: Fang Yihan
reserved.
67
Overview
Tags: Online insurance, AI,
blockchain, cloud computing,
big data
Shanghai
Website:
https://www.zhongan.com/cor
porate/
Online insurance
Application(s): Zhong An
Insurance
Company description
Zhong An Insurance focuses on online insurance and has developed a number of products based on various
consumption patterns and scenarios. It incorporates innovative technologies such as mobile internet, cloud computing
and big data into its products. This includes automatic claims settlement, marketing, risk controls and back-end claims
services, strengthening the financial protection of its clients’ travelling, shopping, healthcare, investment and wealth
management activities. Its data-driven risk management system is supported by dynamic-pricing and risk-tracking
technologies.
Core technologies
Cloud
Blockchain
Big data computing Biometrics /deep
learning
technical personnel
Strategic investors
Listed on the Main Board of the Stock Exchange of Hong Kong Valuation
Ant Financial, Tencent, Ping An Insurance, MSPE, CICC, CDH Investments, SAIF, Keywise
Key personnel
CEO: Chen Jin
CLO and Board Secretary: Zhang Yongbo
CMO: Wu Ti
COO: Xu Wei
CTO: Jiang Xing
reserved.
68
04
Appendix
Appendix I Global comparison
Appendix II Regulatory updates
Appendix III External experts
Appendix IV KPMG China fintech partners
Appendix V Glossary
Appendix I Global comparison
Fintech
2017 China Fintech 50 2017 Global Fintech 100
50
Future Finance avant Kreditech kabbage
YRD WeLab QuantGroup Wecash Neo Growth Captital Float solarisBank sofi
Ｌｅｎｄｉｎｇ， WeLab Prospa OnDeck Lendingkart

QianBao Jianpu 51 Credit Fox ｃｏｎｓｕｍｅｒ
Financial Technology Card Fintech ａｎｄ LendingClub AutoGravity Lendix iwoca
ｓｉｔｕａｔｉｏｎａｌ
Group ｆｉｎａｎｃｅ Atom bank Affirm Creamfinance Spotcap
Dianrong FuYouKeChe MSXF
Funding Circle Lendify Borrowell Valiant
MoneyMe Financial Group GuiaBolso Kueski
iyzico PayFit Nubank Klarna square Revolut

Tenpay Chinapnr 99bill Corporation
KredX stripe iZettle Adyen AfterPay Touch
Ｐａｙｍｅｎｔ
iPayLinks QFPAY Ping++ ｔｅｃｈｎｏｌｏｇｙ
Pushpay Flutterwave Inc Cherri Tech, Inc Lydia
zipMoney Pockit Satispay Viva Republica
Clover Health League Clark Germany GmbH

ZhongAn
HUIZE
Insurance Oscar Alan CoverWallet VertaaEnsin
Ｉｎｓｕｒｔｅｃｈ
GrassRoots Bima Sherpa CoverGenius Cuvva
Fumi Tiger Futu Ｗｅａｌｔｈ WealthSimple Macrovue Neyber Stash Riby

ｍａｎａｇｅｍｅｎｔ，
Technology Brokers Securities ｔｒａｎｓａｃｔｉｏｎ AdviceRobo Moneytree lufax Robinhood
ａｎｄｃａｐｉｔａｌ
JINFUZI WACAI ｍａｒｋｅｔｓ
Raisin Tic:Toc
Ant Baidu Financial SoCash Zaveapp Token Sensibill Qonto
Lufax Ｉｎｔｅｇｒａｔｅｄ
Financial Service Group ｆｉｎａｎｃｉａｌ
PINTEC WeBank ｔｅｃｈｎｏｌｏｇｙ Leveris
JD Finance
3GOLDEN VZOOM
CREDIT Riskstorm Juxinli
Bud Hyper Anna kensho ThetaRay
ChinaScope Tongdun Suan Hua Zheng Xin
Ｂｉｇｄａｔａ
Baifendian ａｎｄｄａｔａ Banqer
Datayes IceKredit Dingfu Da
Group ａｎａｌｙｔｉｃｓ
100credit TalkingData Pay Egis Sanoyed
TianChuang
BeagleData RiskRaider
Credit
Ｂｌｏｃｋｃｈａｉｎ
Bubi Chain Onchain ａｎｄｄｉｇｉｔａｌ Circle Xapo Coinbase IbanFirst
ｃｕｒｒｅｎｃｙ
Ｒｅｇｔｅｃｈ secure key Airwallex VATBox
Ｓｅｃｕｔｅｃｈ AimBrain Silent8 Trusona Inc
Ｃｒｏｗｄｆｕｎｄｉｎｇ OurCrowd
70
Appendix I Regulatory updates
Date of Official
File no Policy name Issuer QR code link
Issuance link
２０１７
Notice of the General Office of
the People's Bank of China on
Yin Ban Fa Matters concerning
January
No. Implementing the Centralized
PBC /
〔2017〕10 Deposit of the Funds of Pending
Payments of Clients of Payment
Institutions
Guo Wu
January
Yuan
Opinions on Promoting the
Sound and Orderly Development
General Office of the http://www.gov.cn/zhengce/2017-
Ling No.
292
of Mobile Internet
State Council 01/15/content_5160060.htm
Yin Jian Ban
the China Banking Regulatory http://www.cbrc.gov.cn/govView_4201
Commission on Promulgation of
February
Fa No.
the Guidelines for the CBRC EF03472544038242EED1878597CB.ht
〔2017〕21
Depository Business of Peer-to- ml
Peer Lending Funds
Yin Jian Ban
the China Banking Regulatory http://www.cbrc.gov.cn/govView_87E
Commission on Effectively
March
Fa No.
Providing Financial Services for CBRC 2657FAE6842CD831D074C49717A85.
〔2017〕42
Micro and Small Enterprises in html
2017
Article 12 of the Opinions of the
State Council on the Assignment
Guo Fa No. of Key Work among http://www.gov.cn/zhengce/content/2
March 〔2017〕22 Departments for the
Implementation of the Report on
State Council 017-03/28/content_5181530.htm
the Work of the Government
March
Article 2 of the Report on the Work
of the Supreme People’s SPP
http://www.spp.gov.cn/gzbg/201703/t
/
Prosecuratorate（2017） 20170320_185861.shtml
March
Article 2 of the Report on the Work
of the Supreme People’s Court SPC
http://www.court.gov.cn/fabu-
/
（2017） xiangqing-37852.html
Guo Ke Fa http://www.most.gov.cn/mostinfo/xinx
Notice on Issuing the 13th Five-
April
Chuang No.
year Plan on National Technological MOST ifenlei/fgzc/gfxwj/gfxwj2017/201705/t2
〔2017〕104
Innovation Projects 0170503_132603.htm
Yin Jian Fa Guiding Opinions of the China

April
No. Banking Regulatory Commission
CBRC /
〔2017〕6 on Risk Prevention and Control
of the Banking Sector
Notice of the Ministry of Science
Guo Ke Fa
Huo No.
and Technology on Issuing the
13th Five-year Special Plan for the
http://www.most.gov.cn/tztg/201706/t
May
〔2017〕157 Development of Technology
MOST 20170609_133458.htm
Markets
http://www.cbrc.gov.cn/govView_597
Yin Jian Fa Notice on Further Strengthening CBRC
May No. Regulation and Management of MOE C8FD3115A4E0FBE730E25009E18D1.
〔2017〕26 Campus Loan MOHRSS html

the Ministry of Commerce on http://www.mofcom.gov.cn/article/h/re
May / Conducting the Risk Screening
of the Financial Leasing Industry
MOC dht/201705/20170502570744.shtml
Minutes of the Symposiums of
Gao Jian Su
No.
the Supreme People's
Procuratorate on Issues
http://www.jaxga.gov.cn/article/showa
June
〔2017〕14 concerning Handling Internet-
SPP rticle.asp?articleid=956
related Financial Crime Cases
Notice of the China Insurance
Bao Jian Cai
Xian No.
Regulatory Commission on
Issusing the Interim Measures
http://www.circ.gov.cn/web/site0/tab5
July
〔2017〕180 for the Supervision of Credit and
CIRC 176/info4076391.htm
Guarantee Insurance Business
Article 3.1 of The Notice of the
General Office of the State Council
Guo Ban Fa on Issuing the 13th Five-year Plan
General Office of the
http://www.gov.cn/zhengce/content/2
July No.
〔2017〕2
on the Development of the
National Emergency Response
System
Notice of the State Council on

Guo Fa No. Issuing the Development Plan http://www.gov.cn/zhengce/content/2
July 〔2017〕35 on the New Generation of
Artificial Intelligence
The above information is based on publicly available sources, and does not constitute a full representation of the policies involved.
The list is for reference only. Please contact relevant authorities for details.
71
Date of
File no Policy name Issuer Official link QR code link
Issuance
２０１７
Notice of the General Office of the
China Banking Regulatory
Yin Jian Commission on Issuing the http://www.cbrc.gov.cn/govView_C8D6
August Ban No. Guidelines for the Disclosure of
CBRC 8D4C980A4410B9F4E21BA593B4F2.ht
〔2017〕 Information on the Business
113 Activities of Online Lending ml
Information Intermediary Institutions
Yin Fa
No. Notice on the Launch of Special http://www.mofcom.gov.cn/article/h/zon
August 〔2017〕
189
Action against Prepaid Card
Malpractices
PBC gzhi/201709/20170902641561.shtml
Notice of the Ministry of Industry
Gong Xin
and Information Technology on http://www.miit.gov.cn/n1146295/n1652
Bu Xin
September Ruan No.
Issuing the Three-year Action Plan
MIIT 858/n1652930/n3757022/c5816325/cont
on the Development of Industrial
〔2017〕227
E-commerce ent.html
Guo Guiding Opinions of the General
Ban Fa Office of the State Council on General http://www.gov.cn/zhengce/content/201
October No. Vigorously Advancing the Office of
〔2017〕 Innovation on and Application of the State 7-10/13/content_5231524.htm
84 Supply Chains Council
Risk Warning on Preventing Illegal http://www.nifa.org.cn/nifa/2955675/295

November Financial Trading Activities via
/
Web Platform
NIFAC 5761/2969138/index.html
2016
Interim Measures for the
Administration of the Business http://www.gov.cn/xinwen/2015-
January /
Activities of Online Lending
CBRC 12/28/content_5028564.htm?&from=an
Information Intermediary Institutions
(Consultation Paper) droidqq
Article 17 of the Outline of the
13th Five-Year Plan for the National http://www.gov.cn/xinwen/2016-
March / Economic and Social Development
of the People's Republic of China
NPC 03/17/content_5054992.htm
Yin Fa http://www.cbrc.gov.cn/chinese/home/d
Guiding Opinions on Enhancing
March
No.
the Financial Support for New
PBC ocDOC_ReadView/FB21DA0230164DC6
[2016]92 CBRC
Consumption Areas 80DE56502CB573DD.html
Guo Fa
No.
Article 6 of the Opinions on Key http://www.gov.cn/zhengce/content/201
March
[2016]21
Work for Deepening the Reform of
the Economic System in 2016
Self-disciplined Pact of the http://www.nifa.org.cn/nifa/2955692/295

March / National Internet Finance
Association of China
NIFAC 5730/2957682/index.html
Guiding Opinions on Supporting

Intensification of Innovation by http://www.cbrc.gov.cn/chinese/home/d
Yin Jian Banking Financial Institutions to CBRC
April Fa No. Launch a Pilot Project for MOST ocDOC_ReadView/D9CB8D9B69D241B
[2016]14 Interlinked Investment in and PBC 1AB3AE54855BF5B55.html
Lending to Scientifically Innovative
Enterprises
Notice on Issuing the
Implementation Plan for
Gong Conducting the Special
Shuang Rectification on Risks in Internet
April Ban Zi Financial Advertisements and SAIC /
No. Financial Activities in the Name of
〔2016〕61 Investment and Wealth
Management
Yin Jian Notice on Issuing the http://www.cbrc.gov.cn/chinese/home/d

April
Fa No. Implementation Plan for the Special
CBRC ocDOC_ReadView/D81B52D3D20A49A
〔2016〕11 Rectification of P2P Lending Risks
99522C48FA8F1C752.html
Fa Gai Ban
Gao Ji No. Article 2 of the Notice on the Work http://www.gov.cn/xinwen/2016-
May [2016]128 of Promoting the Development of
4 E-commerce
NDRC 05/31/content_5078335.htm
72
Date of Official
File no Policy name Issuer QR code link
Issuance link
２０１６
Notice on Issues Concerning

Equities Exchange
and Quotations
the Financing of Financial National Equities http://www.neeq.com.cn/notice/2968.ht
May
Notice No.
Enterprises Listed on the
National Equities Exchange and
Exchange and
Quotations Co. Ltd.
ml
[2016]36
Quotations System
Guidelines of the State

Guo Fa No.
Council on Deepening the http://www.gov.cn/zhengce/content/201
May
[2016] 28
Integrated Development of
the Manufacturing Industry
and the Internet
Measures for the Credit Investigation

Yin Zheng Xin No.
June [2016] 5
Administration of the Credit Bureau of the central /
Investigation Industry (Draft) bank
Technical Standards
Zhong Zhi Xie Ji
Guidelines on the Technologies
for the Protection of Personal
Committee of the http://www.pcac.org.cn/index.php?optio
June Biao Fa No.
[2016] 1
Information
Payment and Clearing
Association of China
nid=780&auto_id=2250
Technical Standards
Guidelines on IT Risk
Zhong Zhi Xie Ji Biao Management of
Committee of the http://www.pcac.org.cn/index.php?optio
June
Fa No. [2016] 2 Non-banking Payment
Payment and
Clearing Association
Institutions
of China
Technical Standards
Zhong Zhi Xie Ji
Standard System for Committee of the http://www.pcac.org.cn/index.php?optio
June
Biao Fa No. [2016] 3
Non-banking Payment
Institutions
Payment and
Clearing Association
of China
Provisions on the
Administration of State Internet http://www.cac.gov.cn/2016-
June / Mobile
Internet Applications
Information Office 06/28/c_1119122192.htm
Information Services
Opinions on the Regulatory

Guidance for the Development http://www.cbrc.gov.cn/chinese/home/d
of Information Technology in
July / the Banking Sector for the 13th CBRC ocView/1940BD4B2D7740CC90F4FE4C
Five-year Period (Discussion 6B3CD316.html
Draft)
Decree [2016] No. 1 of

the China Banking
Regulatory
Commission, the
Ministry of Industry Provisional Measures for the
and Information Administration of Business
http://www.cbrc.gov.cn/govView_37D31
August
Technology, the Activities of Internet Lending
CBRC 2933F1A4CECBC18F9A96293F450.html
Ministry of Public Information Intermediaries
Security and the State
Internet Information
Office
Article 3 of the Notice on

Septembe Guo Fa No.
Issuing the National http://www.gov.cn/zhengce/content/201
r [2016] 43
Scientific and Technological
Innovation Plan for the 13th
Five-year Period
Article 2 of the Notice on

Guo Fa No.
Issuing the National Strategic http://www.gov.cn/zhengce/content/201
November
[2016] 67
Emerging Industries
Development Plan for the
13th Five-year Period
73
Fintech
Appendix I I External experts

50
Former Chairman of the Shanghai Securities Communication Company,

Bai is the Chief Technology Officer of Shanghai Stock Exchange. Bai held
a leadership position at the National Computer Network and Information
Security Management Center. He has worked at the Institute of
Computing Technology of the Chinese Academy of Sciences as a
research fellow and Chief Scientist of Software. He is the Chairman of the
Technology Committee of ChinaLedger. His major research topics include
Shuo BAI
blockchain and AI applications in finance.
Executive Director
Chinese Information Processing
Society of China
Hu is the Executive Director and Chief Computer Analyst at Essence

Securities. His main publications include Blockchain: Online Poetry and
Distance, Fintech Opens A New Door for Wealth, AI: The Glittering Pearl
on the Crown of Contemporary Science, AI Enters the Era of Asset
Management, The Chip Battle: Research and Development Strategy for
AI Chips and Deep Learning: The Magic Wand of AI.
Youwen HU
Chief Computer Analyst
Essence Securities
Zou is a senior researcher at the Research Institute of the People’s Bank

of China. His major research topics include theoretical economics and
finance. His research findings in value measurement model, economic
growth theory, financial regulation, financial ecology and scientific
development have gained considerable recognition. His major
publications include Economic Interpretation of the Financial
Pingzuo ZOU Development Concept, The Study of Financial Regulation, The Report on
China’s Financial Stability, The Study of Finance and China’s Financial
Senior Researcher
Strategic Options – A Strategic and Innovative Approach to China’s
Research Institute of the Technological Banking System and Technical Design.
People's Bank of China
74
Fintech
50
Appendix IV KPMG China fintech partners
Jacky Zou Simon Gleave Edwina Li Abby Wang Allen Lu

Vice Chairman, Regional Head of Head of Financial Services Partner, Partner,
KPMG China Financial Services, Assurance, Financial Services Corporate Services
KPMG Asia Pacific KPMG China
Andrew Huang Anthony Lee Arthur Wang Brian Chan Chris Wang
Partner, Partner, Head of Banking, Partner, Partner,
Financial Services Financial Services KPMG China Financial Services Advisory
Edward Dou Eric Pang Felix Chen Forrest Wu Henry Ngai

Partner, Partner, Partner, Partner, Partner,
Financial Services Financial Services Advisory Financial Services Tax
Irene Chu Ivan Li James Chen James Mckeogh Jessica Xu

Corporate Services Financial Services Financial Services Advisory Advisory
John Wang Kenny Shi Kevin Liu Lang Lang Xu Larry Choi
Corporate Services Financial Services Advisory Advisory Financial Services
Longhua Zhang Louis Ng Martin Zhang Michael Li Philip Ng

Advisory Financial Services Advisory Tax Advisory
Sam Shi Sandra Zuo Thomas Chan Tracy Zhang Walkman Lee
Financial Services Financial Services Financial Services Tax Financial Services
（Ｂｙａｌｐｈａｂｅｔｉｃａｌｏｒｄｅｒｏｆｆｉｒｓｔｎａｍｅ）

75
Appendix V Glossary
No. Abbreviation Full name No. Abbreviation Full name
1 GGV GGV Capital 51 Mobai Capital Shenzhen Qianhai Mobai Asset Management
2 IDG Capital IDG Capital Partners 52 Tiantu Capital Shenzhen Tiantu Capital Management
3 ING International Netherlands Group 53 Homa Appliances Homa Appliances
Susquehanna International Group of 54 CBC Capital China Broadband Capital Partners
4 SIG
Companies
55 Mi Beijing Xiaomi Technology
5 WR Capital Beijing Wanrong Times Capital
56 Ping An Insurance Ping An Insurance (Group) Company
6 Dongshu VC Shanghai Dongshu Venture Capital
57 CCB Trust CCB Trust
7 OFC Oriental Fortune Capital
8 CITIC CITIC Capital 58 CCB International China Construction Bank (Holdings)
The People’s Insurance Company (Group) of 59 Hongdao Capital Beijing Honghe Investment Center
9 PICC
China 60 Zhangjiang Torch Shanghai Zhangjiang Torch Venture Capital
10 China Life China Life Insurance (Group) Company 61 Lakala Beiing Lakala Internet Investment Fund
11 CPIC China Pacific Insurance (Group) Company China Merchants China Merchants Innovation Investment
62
12 China Taiping China Taiping Insurance Group Innovation Investment Management
13 CM CM International Financial Leasing 63 GIC Government of Singapore Investment Corp
China International Capital Corporation and 64 Temasek Temasek Holdings (Private)
14 CICC
related institutions
65 New Horizon Capital New Horizon Capital
15 BOCGI Bank of China Group Investment
66 Xinhu Zhongbao Xinhu Zhongbao Co.
16 Yunqi Yunqi Partners
67 Shan Qi Investment Shanghai Shan Qi Investment Center
17 YFC Yunfeng Capital
68 GPCP Shenzhen Green Pine Capital Partners
18 Yizhuang Internet Fund Yizhuang Internet Fund
69 Bridge Capital Bridge Capital
19 JD Finance JD Finance
70 CMBC China Minsheng Bank Corporation
20 Renren Beijing Qianxiang Wangjing Technology
71 CMBC International CMBC International Investment
21 ChinaEquity ChinaEquity Group
72 Sino-Century Sino-Century China Private Equity Partners
22 Oriza Oriza Equity Investment Fund Management 73 Zhejiang Daily Media Zhejiang Daily Media Group
Shanghai Yonghua Investment Management
23 EBSC Everbright Securities Company 74 Yonghua Capital
(Shanghai)
24 Lightspeed Lightspeed China Partners 75 DL Capitals Dianliang Investment Management (Shanghai)
25 Phoenix Auspicious Phoenix Auspicious Fintech Investment LP 76 Milestone Investment Milestone Investment Management
26 Cals Shanghai Cals Aviation Fund Management 77 Baiyeyuan Investment Shenzhen Baiyeyuan Investment
27 KPCB Kleiner Perkins Caufield Byers
78 Baidu Baidu.com, Inc
28 CDF CDF Capital
79 Interactive Brokers Interactive Brokers Group
29 NLVC Northern Light Venture Capital
80 Vangoo Capital Vangoo Capital Partners
30 Qianhe Capital Qianhe Capital Management
81 Peakview Capital Peakview Capital
31 China Growth Capital China Growth Capital
82 ZhenFund Beijing Zhen Fund Management
32 HG Capital HG Capital
83 Social Security Fund National Council for Social Security Fund
33 CHAMC China Huarong Asset Management Company 84 Liye Group Shenzhen Liye Group
34 Huaxi Holding Huaxi Holding 85 Sequoia Capital Sequoia Capital and related institutions
35 Bojang Capital Bojang Capital Management Group 86 Linear Venture Shanghai Linear Venture
36 Lingyu Hongguan Fund Lingyu Hongguan Fund 87 UMF Union Mobile Financial Technology
37 Wu Capital Wu Capital 88 Tencent Holdings Tencent Holdings
38 Legend Capital Legend Capital 89 Ant Financial Ant Financial Services Group
39 Qiming Venture Qiming Venture Partners Tibet Collar Feng Xin Clothes Venture
90 Tibet Collar Feng
40 QF Capital QF Capital Investment Partnership
41 WH Capital Will Hunting Capital 91 SAIF SAIF Partners
42 Harvest Fund Harvest Fund 92 Fortune Capital Shenzhen Fortune Venture Capital
43 Harvest Investments Harvest Investments Eastern Bell Venture

93 Eastern Bell Venture Capital Management
Capital
44 Guosen H&S Guosen H&S Investment
94 Grand Yangtsz Capital Shanghai Grandyangtze Capitlal
45 Guosen Securities Guosen Securities
95 Sunshine Insurance Sunshine Insurance Group
46 Leading Capital Leading Capital
96 Shun Wei Beijing Shunwei Venture Capital
China Development China Development Bank International
47 97 Lingfeng Capital Lingfeng Capital
Bank International Investment
China Development Shanghai Flying Horse Brigade Equity
48 China Development Bank Capital 98 Feima Fund Investment Center (L.P.)
Bank Capital
49 Guotai Jun’an Guotai Jun’an Securities (Hong Kong) 99 Hillhouse Capital Hillhouse Capital Management
50 Guoke Dingxin Beijing Guoke Dingxin Investment Centre 100 Milestone Capital Milestone Capital
76
KPMG China Leading Fintech 50 Series
8 2016 China Leading Fintech 50

KPMG China published the widely recognised China Leading Fintech 50 in 2016.
8 20 pain points in China’s banking transformation and fintech

solutions
KPMG China published the Chinese version in August, 2017.
8 New opportunities for direct banks in China

KPMG China published the Chinese version in September, 2017.
77
KPMG International’s fintech achievements
8 KPMG Global Fintech 100

KPMG releases the Global Fintech 100 annually (Fintech 100), which include 50 leading
companies and 50 fast-growing companies.
2017
2016
2015
8 The Pulse of Fintech

KPMG releases the Pulse of Fintech quarterly (Pulse of Fintech), which sumarises the key
development trends in the fintech sector.
2017
78
About KPMG China
16 cities across China
KPMG China
has around 10,000
partners and staff
• 70 years in Hong Kong

Hong Kong operations established since 1945.
• 1st with a license in China
In 1992, KPMG became the first international accounting network granted a joint venture
license in mainland China.
• 1st approved Special General Partnership (SGP)
As of 1 August 2012, KPMG China was the first among the Big Four in mainland China to
convert from a joint venture to a special general partnership.
79
kpmg.com/cn/socialmedia
For a list of KPMG China offices, please scan the QR code or visit our website:
https://home.kpmg.com/cn/en/home/about/offices.html.
KPMG China has launched the 2017 China Leading Fintech 50 with the aim of promoting a better exchange of ideas and fostering
innovation in the financial services sector. This should not be mistaken for investment advice and does not constitute a formal
interpretation of existing regulatory policy.
Disclaimer:
The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or
entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as
of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate
professional advice after a thorough examination of the particular situation.
© 2017 KPMG Huazhen LLP — a People's Republic of China partnership, KPMG Advisory (China) Limited — a wholly foreign owned
enterprise in China, and KPMG — a Hong Kong partnership, are member firms of the KPMG network of independent member firms
affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. © 2017 KPMG, a Macau
partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative
(“KPMG International”), a Swiss entity. All rights reserved.
The KPMG name and logo are registered trademarks or trademarks of KPMG International.

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2017 China Leading

KPMG WeChat Fintech 50 Survey

01 Disruptions & Breakthroughs 04

03 China’s Leading Fintech 50 17

The China Leading Fintech 50 Series 77

In recent years, fintech innovation has continuously sped up the

Integrated Product Consumer

Criteria Selection criteria

The selection process began in May 2017.

Proportion of technical personnel

1-2years 2-3years 3-5years 5-10years over 10years

valuation. Unit: RMB

01 Adopting advanced technologies

Continued policy enhancements and technological advancements are providing

02 Traditional financial institutions:

04 China fintech: Export transformation

06 The ambiguous future of non-tech innovations

Fintech enterprises also need to focus on technological innovation to ensure the

08 Establishing an effective regulatory regime

It is important to understand that having a robust regulatory regime does not

10 Using fintech to address systemic risks

Short name Page Short name Page

• Baidu FSG 19 • Lufax 44

• Baifendian Group 20 • MSXF 45

• 100credit 21 • Ant Financial 46

• Bubi Chain 23 • Qianbao Financial 48

• Dingfu Data 26 • Sanoyed Financial 51

• FUMI TECHNOLOGY 29 • RiskRaider 54

• Futu Securities 30 • Suan Hua Zheng Xin 55

• Chinapnr 32 • TianChuang Credit 57

• Fox Fintech Group 34 • Tongdun 59

• Ping++ 35 • Pay Egis 60

• Jianpu Technology 36 • Datayes 61

• JINFUZI 38 • VZOOM CREDIT 63

• 99Bill 41 • 51 Credit Card 66

• Tiger Brokers 42 • YRD 67

• QuantGroup 43 • ZhongAn Insurance 68

Completed financing: Not disclosed Valuation

Series D financing completed Valuation

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iyzico PayFit Nubank Klarna square Revolut

zipMoney Pockit Satispay Viva Republica

Clover Health League Clark Germany GmbH

Fumi Tiger Futu Ｗｅａｌｔｈ WealthSimple Macrovue Neyber Stash Riby

Ｒｅｇｔｅｃｈ secure key Airwallex VATBox

Ｓｅｃｕｔｅｃｈ AimBrain Silent8 Trusona Inc

Yin Jian Fa Guiding Opinions of the China

Notice of the General Office of

Notice of the State Council on

Risk Warning on Preventing Illegal http://www.nifa.org.cn/nifa/2955675/295

Self-disciplined Pact of the http://www.nifa.org.cn/nifa/2955692/295

Guiding Opinions on Supporting

Yin Jian Notice on Issuing the http://www.cbrc.gov.cn/chinese/home/d

Notice on Issues Concerning

Guidelines of the State

Measures for the Credit Investigation

Opinions on the Regulatory

Decree [2016] No. 1 of

Article 3 of the Notice on

Article 2 of the Notice on

Appendix I I External experts

Former Chairman of the Shanghai Securities Communication Company,

Hu is the Executive Director and Chief Computer Analyst at Essence

（Ｂｙａｌｐｈａｂｅｔｉｃａｌｏｒｄｅｒｏｆｆｉｒｓｔｎａｍｅ）