Hangzhou to become int'l fintech center by 2030
Aerial photo taken on May 24, 2019 shows scenery of the West Lake in Hangzhou, east China's Zhejiang Province.
The government of Hangzhou has released a special plan to build the eastern Chinese city into a comprehensive international fintech center by 2030.
According to the plan, Hangzhou will nurture at least 10 internationally known fintech firms by 2022 and support eligible companies to go public.
In the meantime, Hangzhou will concentrate on developing research and application of big data, artificial intelligence, cloud computing, blockchain as well as information safety technologies, building fintech infrastructure, and creating a fintech innovation ecology.
The city aims to achieve the fintech industrial added value of over 120 billion yuan (US$17.4 billion) by 2022.
Hangzhou is home to a group of leading fintech companies, including Ant Financial, and leads the country in technological innovation and application of mobile payments, financial big data, wealth management and finance information security.
