A Chinese consortium made up of Credit China Fintech, China Huarong International, Shanghai Xinhua Publishing Group and Jilin Province 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. The fund will invest in companies that are developing blockchain technology or offering financial services using it. 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 Publishing Group and Jilin Province 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.