Review of the Development of Digital Inclusive Finance in China

Rui-min SONG, Lu DONG


Digital finance refers to traditional financial institutions and Internet companies using digital technology to achieve financing, payment, investment and other new financial business models. The rapid development of China's digital economy and digital finance has benefited from the Internet revolution. In the short period of more than a decade from 2004 to 2018, relying on technological innovations such as Internet big data and cloud computing, the development of China's digital finance has advanced by leaps and bounds. The emergence of a series of third-party payment methods such as Alipay and WeChat payment has made financial services convenient Sexuality and availability have been greatly improved, and the coverage and depth of financial services in backward areas have been promoted, so that groups that could not meet the “high threshold” of financial services can also enjoy financial services, so the development of digital finance has further promoted The development of inclusive finance, but digital inclusive finance also has drawbacks, such as a series of financial chaos caused by insufficient supervision. The risks of digital inclusive finance mainly include default risk, fraud risk, policy risk and operational risk. This article takes online lending as an entry point to study new financial risks in the era of digital economy.


Digital economy, Inclusive finance, Financial risk, New format financial risk


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