Entrepreneurship in China

China's exporting firms are "changing" and "downsizing" from the dynamic price fluctuation of 10 to 20 percent per year and the need for risk management by financial authorities. With this trend, it is hoped that technology will solve financial problems in transboundary trading. Mr. bill ten, executive director and CEO of xtransfer and CEO of the 36kr global survey and consulting unit, said on Friday, the state of foreign trade in China and the future prospects of fintech in Asia, including Japan.

* this article is based on the lecture of the world fintech Festival (wff) sponsored by SOS in November 2021.

Automobilization and mobilization of financial services for corporations still remain in progress

"The technology is not only paying for the financial industry, but also a very important role in all financial services," said Bill ten, director of the 36th chairman of the Bank of Japan. Mr. ten founded the company in antway's parent company ant group from 2017. Xtransfer grew into Unicorn companies in the transboundary financial industry.

Mr. Teng said two of the value of xtransfer "established a financial management platform available to small and medium-sized enterprises that can handle global speedy" and "small and medium-sized firms can manage the risk of anti money Rhonda ring (AML) in transboundary financing". This allows small and medium sized exporting firms to develop a stable and sustainable business.

Ten years have said that all services related to the individual have been automated, numbered and intellectually made in the last five years. It is natural that all services related to clothing and clothing are provided through sumaho, and the flow is spreading in the financial area. "Most of the people have a bank app, and they are very useful, and they are all electrified, such as the introduction of ways of merchandise, usage and signup," Mr Teng says.

With the development of such personal related technologies, electronic services related to firms are becoming increasingly electronically. "In the last five years, electronics have led to a lot of banks, and online banking has shifted to mobile," he said.

On the other hand, automobilization and mobilization of financial services for corporations are still a lot of progress in comparison with personal financial services, but the development of human resources has been advanced, and more and more talented personnel and services are being developed in the fintec area China's fin tech will lead to overseas expansion.

Looking for a promising Southeast Asia destination

In response to this situation, the current major service for xtransfer is for China's small and medium size export companies and purchasing exporters. Ten "in the next five to ten years, not only services to Chinese exporters but also financial services with matching services with foreign buyers such as Hong Kong, Singapore, London, America and Europe," he said.

Mr. Jao asked Mr. Jao for the first time to think about the support of Chinese manufacturers overseas, and why did he target small businesses "At that time, 20% of China's exports were in Southeast Asia, 20% in America, 15% in Europe, Britain and 10% in Japan and Korea," he said.

And it is called Southeast Asia that the main export enterprise is advancing in the globalization. It is Southeast Asia, which is promising as a major export destination for general trade products and general skin care products to be exported by Chinese exporters, "he said.