nach oben

Erschienen in:

2024 | OriginalPaper | Buchkapitel

17. Fintech and Banking Reform: A Perspective from China

verfasst von : Feimin Wang, Duoqi Xu, Xuejun Cheng

Erschienen in: Commercial Banking in Transition

Verlag: Springer International Publishing

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

China’s banking sector undergoes a fintech-driven transformation using technologies like big data, cloud computing, AI, and blockchain. This shift from offline services to online services brings achievements like online finance, trade finance blockchain platforms, and data governance in banks. However, the introduction of China’s central bank digital currency (DC/EP or e-CNY) has mixed impacts on commercial banks. While enhancing convenience, it poses governance risks, reduces traditional income of commercial banks, weakens branches of commercial banks, and pressures infrastructure. To address challenges and protect consumer rights, banks must follow fundamental rules like the Cybersecurity Law, Data Security Law, and Personal Information Protection Law. Commercial banks should accelerate strategic transformations, strengthen information systems, and shift to online platforms. Fintech innovations expand financial services, improving accessibility, reducing costs, and enhancing efficiency in China’s banking sector.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Vorheriges Kapitel Chinese Commercial Banks and Fintech-Competition and Collaboration

Nächstes Kapitel Prudential Regulation of the Banking-Like Business of Fintech Companies in China

See G. Lei, Loan Facilitation: Realistic Dilemma, Social Value, and Advice for Regulation. https://baijiahao.baidu.com/s?id=1743786523885779626&wfr=spider&for=pc, accessed Sep 15, 2022.

See IBM.we.Trade. https://www.ibm.com/case-studies/wetrade-blockchain-fintech-trade-finance, accessed Dec 3, 2021.

See Z. Ding, Banking Consortium and Five Top Banks to Jointly Build CTFU Platform. http://bank.xinhua08.com/a/20200831/1953409.shtml, accessed Aug 31, 2021.

See L. Dazhi, HKMA Officially Launched “eTradeConnect”, A Blockchain Trade Finance Platform. http://www.diankeji.com/blockchain/43686.html, accessed Nov 25, 2021.

See C. Rongguo and L. Jie, Promotion and Application of Blockchain Technology and “PBC Trade Finance” Platform in Trade Finance in Gansu, GANSU FINANCE, 2020(05), 13–19.

Digital Currency Research Institute of the People’s Bank of China. First Stage of the Project for Communicating the Trade Finance Blockchain Platform with the “eTradeConnect” Platform Completed. http://www.lianmenhu.com/blockchain-22842-1 (accessed Jan 25, 2022).

See Y. Q. Zhao, Development Trend, Contingent Risks and Regulatory Considerations of Digital Currencies in the Public and Private Sectors, Economist, 2020(8), 110–119.

See A. M. Qi and Z. Zhang, On the Concept and Legal Nature of Digital Currency, Science of Law, Journal of Northwest University of Political Science and Law, 2021, 39(2), 80–92.

See X. J. Cheng, International Experience and China's Strategy of Blockchain Technology Regulation, China Business and Market, 2021, 35(3), 31–43.

See D. D. Zhao, The Impact of the Central Bank's Digital Currency on Commercial Banks and Countermeasures, Enterprise Economy, 2021, 40(2), 143–149.

Digital Currency Research Group of the People’s Bank of China. China's Road to Legal Digital Currency, China Finance, 2016(17), 45–46.

See F. R. Zeng, Research on the Motives and Impact of Issuing Legal Central Bank Digital Currency, Financial Development Review, 2018(5), 26–39.

See S. J. Liu, Study on the Legal Principles and the Distribution of Rights and Duties of Legal Digital Currency, Journal of CUPL, 2018(3), 165–179, 209.

See Q. Yao, Experimental Study on Prototype System of Central Bank Digital Currency, Journal of Software, 2018(9), 2716–2732.

See X. J. Chen, The Development Risk, International Comparison and Governance Path of Residents’ Leverage Ratio, Economist, 2021(11), 43–51.

See D. D. Garcia-Swartz, R. W. Hahn and A. Layne-Farrar, The Move Toward a Cashless Society: A Closer Look at Payment Instrument Economics, Review of Network Economics, 2006, 5(2), 4–20.

See D. Xu, S. Tang, and G. Dan, China's Campaign-Style Internet Finance Governance: Causes, Effects, and Lessons Learned for New Information-Based Approaches to Governance, Computer Law & Security Review, 2018, 35(1), 3–14.

See Q. Yao, Analysis of the Economic Effects of Fiat Digital Currencies: Theoretical and Empirical Demonstration, Studies of International Finance, 2019(1), 16–27.

See X. X. Wen and P. Zhang, The Impact of Digital Currency on Monetary Policy, China Finance, 2016(17), 24, 26.

See W. Liu, Mechanism Exploration and Risk Prevention of Digital Currency Issuance Based on International Experience, Southwest Finance, 2017(11), 51–58.

See D. Q. Xu, From Regulation to Governance: The Global Pattern and Practical Consensus of Digital Currency Regulation, Science of Law, Journal of Northwest University of Political Science and Law, 2021(2), 93–106.

See J. S. Yu, International Economic Law (2rd Edition), Beijing: Higher Education Press, 2019, 16–17.

Titel: Fintech and Banking Reform: A Perspective from China
verfasst von: Feimin Wang
Duoqi Xu
Xuejun Cheng
Verlag: Springer International Publishing
Buch: Commercial Banking in Transition
Print ISBN: 978-3-031-45288-8

Electronic ISBN: 978-3-031-45289-5

Copyright-Jahr: 2024
DOI: https://doi.org/10.1007/978-3-031-45289-5_17