PBOC Official sees Internationalization as a crucial factor for Chinese Internet Finance

During an inclusive finance forum, People’s Bank of China (PBOC), China’s Central Bank, pointed out some trends of internet finance in the next five years. One of these trends is the speed up and internationalization of internet finance. China is among the industry leaders consolidating the supply chain and SME finance relying on technology and internet. They are calling on Chinese internet finance companies to become global soon.

Large Chinese internet finance companies, although always refer to their global vision and ambition for a public offering in the US, are slow in practice. It is understandable that with so many domestic regulatory uncertainties, going overseas might be risky. However, the implementation can be foreseen in the next five years, when a regulatory system will be established. Therefore, early preparation will bring about a niche.

Ovamba is the leading Fintech platform in Cameroon. Like PBOC, they are planning to expand their FinTech services in the whole African continent, taking African businesses to global standards, making them competitive. Ovamba is secured, with less than 1% default rate, very important for investors who have never injected money in Africa.

Source: https://news.163.com/15/1116/02/B8GSBTIF00014AEE.html