Chinese Fintech Market and Top-30 Chinese Fintech Companies 2018
Chinese New Year is coming soon and we prepared the overview of Chinese Fintech Market 2018.
by Elena Obukhova, Founder & CEO at FAS
China is absolute leader by blockchain patents worldwide. The number of patents in 2018 reached 1001 compared to 138 in the US.
Gogo Chicken (Zhong An) introduced facial-recognition system to monitor poultry that can improve the food security in China.
Beijing can be called a blockchain hub of China, as 38.1% of blockchain patents are coming from Beijing companies. That is more than Shanghai and Shenzhen have in total. These two cities have 17.8% and 16.3% respectively.
*Data source: IPR Daily
Chinese VC investors were choosing early stage investments in blockchain startups, 39% of VC investments in 2018 were coming from angel investors. That might be because of the development stage of blockchain startups. Most of them just launched their business in 2017-2018 and thus there are less opportunities for late-A stage investments and later stages.
39% of VC investments in blockchain startups are coming from angel investors
Large Chinese corporations also got involved in blockchain and fintech field and developed their own business solutions. In Chinese Fintech Top-30 there are 10 unicorns including Ant Financial (Alibaba), JD Digits (JD.com), WeBank (Tencent) and Du Xiaomian Financial (Baidu).