A Chinese consortium made up of Credit China Fintech , China Huarong International , Shanghai Xinhua Investment Group and Jilin Technology Investment Group have unveiled the Asia Fintech Merger and Acquisition Fund . The aim of the $ 1.44bn initiative is to nurture the country 's leading fintech companies . China is arguably the largest Fintech market in the world. Other fund partners include China Cultural Industry , New Times Trust , Shenzhen China Create Group and Juntong Capital . At the launch , Credit China Fintech said that China has become " the " international fintech hub , with the majority of its burgeoning middle class managing their finances on mobile devices .
A Chinese consortium made up of Credit China Fintech , China Huarong International , Shanghai Xinhua Investment Group and Jilin Technology Investment Group have unveiled the Asia Fintech Merger and Acquisition Fund . The aim of the $ 1.44bn initiative is to nurture the country 's leading fintech companies . Other fund partners include China Cultural Industry , New Times Trust , Shenzhen China Create Group and Juntong Capital . At the launch , Credit China Fintech said that China has become " the " international fintech hub , with the majority of its burgeoning middle class managing their finances on mobile devices .