DUBLIN–(BUSINESS WIRE)–The “China Embedded Finance Business and Investment Opportunities Databook – 50+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
China’s Embedded Finance industry is expected to grow by 37.1% on annual basis to reach US$71,271.2 million in 2022.
The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 22.3% during 2022-2029. The embedded finance revenues in the country will increase from US$71,271.2 million in 2022 to reach US$213,171.0 million by 2029.
China is one of the leading countries in the global embedded finance market. The fintech revolution continues to gather momentum in the country. The country is dominating the embedded insurance market in the Asia Pacific region. The publisher expects the country is to continue its dominance during the forecast period. The presence of the most significant e-commerce industry in China is one of the major factors attributed to the embedded insurance market’s growth in China.
Additionally, a growing number of insurtech startups that are innovating and offering their services for different industry verticals are also boosting the market growth. As more and more customers opt for embedded insurance services, these insurtech startups are looking to expand into other industry verticals to strengthen their position in the Chinese market further.
Leading technology companies are aggressively expanding their reach in the insurance segment in China. For instance, Ant Group, one of the country’s leading online insurers, is disrupting the insurance sector for the financially excluded majority in China. Notably, the tech giant has approximately 13% market share in the insurance sector.
Market players are also entering into strategic partnerships to promote innovations and introduce technologically advanced offerings.
In July 2021, AXA Insurance Group and the Chinese health insurtech platform, QingSong, entered into a strategic partnership to explore and innovate in the Chinese insurance industry. The publisher expects market players to enter into more such strategic partnerships to expand their footprints in the Chinese embedded insurance market over the next few quarters.
The gap in the financial system by traditional banking systems in China opened up an opportunity for tech companies such as Alibaba and Tencent to offer financial services. Moreover, support for fintech companies from the Chinese government has resulted in further growth of the embedded lending market in the country. Therefore, the correct combination of market conditions and regulatory environment has propelled Chinese fintech to succeed. However, the government’s intervention in the embedded lending market is expected to hinder the market growth.
In October 2020, China unveiled its personal information protection law draft, a significant move to regulate the collection and usage of personal data. The law has been passed to reduce the concerns over the disorganization of the country’s financial system. For instance, in September 2021, Ant Group announced its business reorganization to comply with the Chinese central bank’s instructions in April to separate its Alipay payments service from other services that offer consumer loans.
The technology giants in China are making efforts to utilize the available customer data and still abide by the law to offer specific lending options. New innovations and technological advancements by market players are further expected to propel the market growth in the upcoming years.
Moreover, from being a cash-dominant economy in the last decade, the Chinese payments market has evolved significantly and is dominated by digital payment modes. The two companies – Alibaba and Tencent, have extensively reshaped the Chinese payments landscape. New entrants are eying the growing opportunities in the payment industry and are making their way into the Chinese embedded payment market.
In January 2022, Singapore-based cross-border payment company Thunes announced its new strategy to significantly expand its foothold into various markets, including Greater China, spanning mainland China, Hong Kong, Taiwan, and Macau. Thunes focuses on creating relationships with local digital payment firms to help businesses and consumers make quicker and cheaper payments to and from China.
This report provides a detailed data centric analysis of market opportunity across 50+ segments in embedded finance industry covering lending, insurance, payment, and wealth sectors.
Scope
China Embedded Finance Market Size and Forecast
China Embedded Lending Market Size and Forecast
Embedded Lending by Consumer Segments, 2020 – 2029
Embedded Lending by B2B Sectors, 2020 – 2029
Embedded Lending by B2C Sectors, 2020 – 2029
China Embedded Insurance Market Size and Forecast
Embedded Insurance by Industry, 2020 – 2029
Embedded Insurance by Insurance Type, 2020 – 2029
Embedded Insurance by Type of Offering, 2020 – 2029
China Embedded Payment Market Size and Forecast
Embedded Payment by Consumer Segments, 2020 – 2029
Embedded Payment by End-Use Sector, 2020 – 2029
China Embedded Wealth Management Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/63oat4
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
HANOI, VIETNAM – Media OutReach Newswire - 22 November 2024 - By capitalizing on its…
HANGZHOU, CHINA - Media OutReach Newswire - 22 November 2024 - As the 2024 World…
BEIJING, CHINA - Media OutReach Newswire - 22 November 2024 - The 2024 Beijing Changping…
Tickets Now Available via Urbtix HONG KONG SAR - Media OutReach Newswire - 22 November…
iShopChangi is throwing a year-end bash like no other! From now till December, get ready…
HONG KONG SAR - Media OutReach Newswire - 22 November 2024 - As a leading…
