China Fintech Deals Double In 2016 While US, Europe Decline

Chinese investors continued aggressively investing in financial technology (fintech) last year, despite a slowdown in other major markets around the world. Fintech investments in China doubled during the first nine months of 2016 year-on-year, driven by major funding rounds completed by China's Lufax, Ant Financial and JD Finance.

Global fintech investments reached US$18 billion in the first three quarters of 2016, close to the US$19 billion dollars in deals recorded in all of 2015. China accounted for over 50% of the 2016 year-to-date total, according to a report released by Citi Asia Pacific.

By contrast, venture investments in fintech declined 38% in the U.S. and 27% in Europe during the period. A...

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