Chinese Cities Dominate New Fintech Index
Following Lilian’s recent post I wanted to share additional Fintech Hub Index results, this time out of China.
A ranking of Global Fintech Hubs, published by Zhejiang University Internet Finance Research Institute, showed that Beijing has taken the lead in the recent domination of Chinese cities as Global Fintech Hubs.
According to the research report, Beijing has topped the global Top 8 list with San Francisco, New York, and Chicago ranked at second, third, and eighth positions, respectively. London, which is the only European city in this ranking of top 8 landed at number five. The rest are all Chinese: Shanghai, Shenzhen, and Hangzhou, indicating, according to the report the dominance of China in global fintech (4 out of Top 8 cities).
The Institute has so far not clearly and fully laid out the methodology or data used in the study and it is therefore for us to compare it with the recent rankings by Findexable.
The Institute has released further rankings that have left some of us scratching our heads. When ranked by “Consumer Experience” 9 out of the world’s Top 10 Fintech Hubs are located in China, for example. Although, It is also no secret that some of the world’s largest fintechs and payment providers such as Alipay and Tenpay are based out of China.
We applaud the Herculean task of making a global index of this kind and hope that as methodologies become more robust and data more reliable in the future we will see a truly Global Index.