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January 17, 2017

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Shanghai online finance firms go inland

SHANGHAI-BASED online finance service providers are expanding into inner and western parts of China as their economic development boosts demand for Big Data, online payments and other cyber finance services.

Four provincial areas — Henan, Sichuan, Hubei and Guangxi — are among the top-10 regions by trade volume, a sector once dominated by coastal regions, said Shanghai-based online lender PPDai.

Populous Henan and Sichuan had rapid growth in both user base and trade volume, said Zhang Jun, chief executive of PPDai.

Meanwhile, Peking University said the gap between online finance and digital economy, and between coastal regions such as Shanghai and areas in west China such as Chengdu, Guiyang and Tibet will narrow this year.

Shanghai-based ChinaPnR has signed a partnership agreement with Guizhou Bank recently on digital payment and value-added finance services.


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