Fintech is expected to generate $65 billion in sales by 2020 and Alibaba and Tencent are projected to capture half of the market; this would significantly increase valuations for both large e-commerce firms; online payments growth is also projected to be significant, supporting further value increases for both firms. Source
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Before heading to Shenzhen the LendIt China tour visited with representatives from the wealth management arm of CreditEase. CreditEase is one...
The Hong Kong-listed company is, according to one banker at HSBC, the answer to Facebook, WhatsApp, Spotify, Kindle and ApplePay, but all under one roof; based in Shenzhen, considered the Silicon Valley of China, they employ 3,000 people where over half are focused on research and development; they also have a multi-billion dollar investment portfolio; they are one of the top three companies in China and have successfully expanded worldwide with apps like WeChat. Source
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