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Mobile Payment Spreading Prosperity

Jul 18-2019   



Mobile payment had significantly closed the gap in financial availability between China’s western and eastern regions, said Prof. Huang Yiping in his recent speech.

 

In 2011, Shanghai was 50.4 times ahead of Qinghai Province in terms of mobile payment coverage. It had narrowed down to 1.42 between the regions with the highest coverage (Beijing) and lowest coverage (Tibet) in 2018. In that eight-year span, the gap in financial availability between China’s western and eastern regions had narrowed by 15%.

 

Research by the Institute of Digital Finance (IDF) at PKU has found that the spread of mobile payment helps farmers to transition to non-agricultural industries, favors the increase in registered firms, and improves people’s income.

 

China’s vast western regions account for 56.29% of its territories, but used to have only 5.61% of its population and contribute 4.3% of national GDP. Its enormous potential is being awakened by Fintech, with mobile payment at the vanguard.

 

In his speech, Prof. Huang announced the start of an open research plan for digital finance, jointly undertaken by the IDF, Ant Finances and some other institutes. He welcomed Chinese and foreign experts to join the project.

 

Besides heading the IDF, Prof. Huang teaches BiMBA’s MBA students as part of its National Development Serial Lectures. He also lectures on Contemporary Issues of Global Finance for BiMBA’s MBA second-diploma program.

Mobile Payment Spreading Prosperity

Jul 18-2019   



Mobile payment had significantly closed the gap in financial availability between China’s western and eastern regions, said Prof. Huang Yiping in his recent speech.

 

In 2011, Shanghai was 50.4 times ahead of Qinghai Province in terms of mobile payment coverage. It had narrowed down to 1.42 between the regions with the highest coverage (Beijing) and lowest coverage (Tibet) in 2018. In that eight-year span, the gap in financial availability between China’s western and eastern regions had narrowed by 15%.

 

Research by the Institute of Digital Finance (IDF) at PKU has found that the spread of mobile payment helps farmers to transition to non-agricultural industries, favors the increase in registered firms, and improves people’s income.

 

China’s vast western regions account for 56.29% of its territories, but used to have only 5.61% of its population and contribute 4.3% of national GDP. Its enormous potential is being awakened by Fintech, with mobile payment at the vanguard.

 

In his speech, Prof. Huang announced the start of an open research plan for digital finance, jointly undertaken by the IDF, Ant Finances and some other institutes. He welcomed Chinese and foreign experts to join the project.

 

Besides heading the IDF, Prof. Huang teaches BiMBA’s MBA students as part of its National Development Serial Lectures. He also lectures on Contemporary Issues of Global Finance for BiMBA’s MBA second-diploma program.