Last week, KPMG held a press conference in Beijing to announce the selection and ranking of the top 50 Fintech companies in China for 2017. China is the largest Fintech market in the world led by conglomerates like Alibabay (Alipay, Ant Financial etc.), Tencent and more. The peer to peer lending market (or marketplace lending) dwarfs every other market including the US. China is already home to four Fintech unicorns and investment into Fintech topped $8 billion last year alone.
At the presser, Arthur Wang, the Head of Fintech Industry, KPMG China, stated;
“The ranking of China’s 50 leading fintech companies in 2016 aroused great attention both in China and overseas. During this year’s ranking, specialists will consider each related dimension of the companies based on the selection criteria and process, and determine the final top 50 fintech companies through research, analysis and discussion.”
KPMG benefits from the emerging sector of finance too as they look to work with these companies in managing the shift to internet finance. In 2015, KPMG launched the Innovative Startup Centre in Zhongguangcun to help solidify their position.
If you are curious about last years Fintech 50, according to KPMG, the list is below. It will be interesting to see who is on the list this year and perhaps who has left it.
China Fintech 50 companies from 2016
*Companies are arranged in alphabetical order based on the first letter of their Chinese name in pinyin.
- Baidu Finance
- ICE KREDIT
- PING ++
- JD Finance
- QUARK FINANCE
- LENGJING INFO
- Ant Financial
- Suanhua Credit
- Beagle Data
- Tong Dun
- Wei Zhong Shui Yin
- Zhongan Insurance