三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Fintech key to financial institutions for further digitalization: Bairong CEO

By CHENG YU | China Daily | Updated: 2021-04-02 09:25
Share
Share - WeChat
Visitors check out a digitalized production line during a hightech expo in Wuzhen, Zhejiang province, in November. [Photo/Xinhua]

Financial technologies, or fintech, are critical for Chinese financial institutions and small and medium-sized enterprises in the post-pandemic period as the country pushes forward digital transformation of various industries for high-quality economic development, industry insiders said.

"Demand for digital and online transformation from traditional banks surged during the COVID-19 outbreak as the traditional operation model and offline human-based services mode became unsustainable," said Zhang Shaofeng, chairman and CEO of Bairong Inc, a Chinese provider of financial big data analytics and other services.

The country's financial sector is transforming to serve more SMEs in the coming 10 years. This trend will inject new vitality into the country's real economy through fintech innovations, Zhang said.

"Technology is a must to empower these financial institutions to transform to data and algorithm-driven automated learning. Traditional banks are expected to enhance their competitiveness as fast as possible and achieve better growth through fintech technologies," he said.

Zhang made the remarks after Bairong Inc made its debut on the Hong Kong stock exchange on Wednesday. Trading under the stock code 06608.HK, the company priced its IPO at HK$31.8($4.09) per share, the upper end of its indicated range.

Founded in 2014, Bairong leverages advanced technologies including AI and cloud computing to enable financial institutions to thrive through digital innovations and transformations.

A wide variety of State-owned funds and leading investment firms have invested in the AI fintech firm. According to its prospectus, Hillhouse Capital holds 12.39 percent while State-owned China Reform Holdings Corp holds 12 percent. Sequoia Capital China, China International Capital Corp, China Renaissance and IDG Capital are also among the investors.

Its cornerstone investors for the IPO include Cederberg Capital Ltd, Franchise Fund LP, and China Structural Reform Fund Corp, a State-owned private equity fund that offers State-owned enterprises with support in development and industrial consolidation.

Industry insiders said the investment from leading State-owned funds in the company demonstrated investors' outlook on the long-term value of the company as well as future prospects for financial digitalization.

"Chinese fintech companies have improved financial inclusivity by reaching out to consumers and investors in offering new and more convenient services while mainstream banks, insurance companies, securities firms and asset managers have adopted financial technology and transformed the range, speed and costs of financial services," said Zhang Wei, a research fellow at the Center for China& Globalization.

Zhang said that in this way China can contribute its wisdom to the sound and sustainable development of the digital economy.

The digital economy is a key focus in the 14th Five-Year Plan (2021-25), during which China aims to push forward the digitalization of a raft of industries. The plan also highlighted the necessity to promote financial digitalization to be safe and controllable.

"As China has committed to accelerated efforts in digitalization, including safe financial digitalization, Bairong has been actively embracing supervision and striving to empower traditional banks and SMEs for digital transformation," said Zhao Hongqiang, Bairong's chief financial officer.

As of September, Bairong has offered its services and products to 4,200 financial institutions including Industrial and Commercial Bank of China, China Construction Bank and Bank of China. Its core customer retention rate has been further increased from 89 percent in 2019 to 96 percent last year, the company said.

Though faced with a pandemic-struck financial industry, Bairong saw a rebound in the fourth quarter, reporting annual revenue of 1.136 billion yuan ($170 million) and narrowing the year-on-year decline to 9.9 percent.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 国产精品视频一区二区三区经 | 国产在线观看第一页 | 欧美日韩免费看 | 性色生活片 | 国产精品亚洲一区在线播放 | 亚洲欧美日产综合在线看 | 国产欧美精品午夜在线播放 | 深夜福利国产精品亚洲尤物 | 毛片应用 | 欧美精品在线免费 | 国模偷拍在线观看免费视频 | 欧美一级毛片aaa片 欧美一级毛片一 | 国语自产精品视频在线区 | 国产日韩在线视频 | 可以免费观看的毛片 | 涩涩色中文综合亚洲 | 女女互添下身免费视频 | 视频一区二区在线观看 | 国产午夜在线观看 | 美国黄色毛片一级 | 三级网站 | 亚洲天堂美女 | 在线网站cosplay福利视频 | 中文字幕a∨在线乱码免费看 | 日韩视频 中文字幕 | 拍拍拍拍拍拍拍无挡大全免费 | 青青草国产青春综合久久 | 欧美成人性高清观看 | 在线播放人成午夜免费视频 | 站长推荐国产午夜免费视频 | 久久香蕉国产在产线看观看 | 伊人影院综合 | 亚洲欧美在线观看播放 | 国产成人亚洲精品91专区手机 | 全部免费特黄特色大片视频 | 午夜激情福利视频 | 欧美日韩国产在线观看一区二区三区 | 免费观看三级毛片 | 中国一级黄色 | 国产的一级毛片完整 | 久久厕所精品国产精品亚洲 |