INTERNET BANKING, DIGITAL SECURITIES AND ONLINE INSURANCE IN CHINA
( Pp. 200-203)
More about authors
Ermakova Elena P.
kandidat yuridicheskih nauk, docent, docent kafedry grazhdanskogo prava i processa i mezhdunarodnogo chastnogo prava
RUDN University Law Institute
RUDN University Law Institute
Abstract:
The article notes that at present, China is the undoubted global center for global innovation and the introduction of fintech. Currently, there are two Internet banks in China: Webank, created by Tencent, the largest Chinese SNS company, and Mybank, created by Alibaba, the largest e-commerce company in China. These two banks own an aggregate share of 92% of electronic transactions in the Chinese market, which includes 1.4 billion people. The rapid spread of mobile payments in China was promoted by: 1) the lack of a history of using credit cards and 2) the very centralized nature of the e-commerce market in China. In 2019, according to economists, the volume of online banking transactions should be a record amount of 4,622 quadrillion yuan. However, the explosive growth of Chinese FINTECH technology occurred in a regulatory void.
How to Cite:
Ermakova E.P., (2019), INTERNET BANKING, DIGITAL SECURITIES AND ONLINE INSURANCE IN CHINA. Economic Problems and Legal Practice, 3 => 200-203.
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Golye kredity: kitayskaya molodyezh aktivno beryet mikrozaymy, ostavlyaya pod zalog intimnye foto. URL: https://www.yaplakal.com/ forum3/topic1878447.html Data obrashcheniya 26.02.19.
K yu-k yu (QQ) - kitayskaya programma obmena soobshcheniyami.//wayofasia.ru. URL: https://wayofasia.ru/articles/kitay/11-internet-i-soft-v-kitae/29-qq-ustanovka-i-ispolzovanie.html Data obrashcheniya 15.02.19.
Mezhdunarodnaya yuridicheskaya kompaniya Heritage Group . URL: http://www.heritage-offshore.com/content/c52-page1.html Data obrashcheniya 25.02.19.
Razreshenie finansovykh sporov v stranakh ATR (Avstraliya, Gonkong, Indiya, Indoneziya, Kitay, Malayziya, Novaya Zelandiya, Singapur, SSHA, Tailand, YAponiya). Monografiya. Pod red. E.E. Frolovoy i E.P. Ermakovoy. M. Izd. Infotropik Media, 2019.
China: online banking gross transaction volume 2011-2019 //Statistic// Statista 2019. URL: https://www.statista.com/statistics/248967/online-banking-transaction-volume-in-china/ Data obrashcheniya 25.02.19.
China s Internet Banking Industry Exploding: Can They Have Global Success //2019 LexisNexis. URL: https://www.lexisnexis.com /communities /corporatecounselnewsletter/b/newsletter/archive/2017/05/18/china-s-internet-banking-industry-exploding-can-they-have-global-success-can-u-s-companies-have-success-in-china.aspx Data obrashcheniya 25.02.19.
Elena Petrovna Ermakova, Ekaterina Petrovna Rusakova, Elena Vitalievna Sitkareva, Evgenia Evgenevna Frolova. Main Components of Protecting Consumers of Financial Products in Asian-Oceanic (APAC) Countries// International Journal of Engineering and Technology (UAE) (ISSN2227524X-United Arab Emirates-Scopus) (DOI: 10.14419/ijet.v7i4.38.24343) Published on:, Vol. 7, No 4.38 (2018). P. 157.
Garrett Geoffrey. The Mobile Payments Race: Why China Is Leading the Pack - for Now. Jan 17, 2018.URL: http://knowledge.wharton. upenn.edu/article/how-will-chinas-overseas-mobile-payment-systems-fare/ Data obrashcheniya 20.02.19.
Miroshnichenko, O.I., Samusenko, T.M., Gaivoronskaya, Ya.V., Frolova, E.E. (2018) DOCTRINE IN THE MODERN WORLD: LEGAL TRADITIONS AND MODERN POTENTIAL// The Social Sciences (Pakistan). Vol. 13. no. 2. pp. 235-240.
The Mobile Payments Race: Why China Is Leading the Pack - for Now. Jan 17, 2018. URL: http://knowledge.wharton.upenn.edu/article/how-will-chinas-overseas-mobile-payment-systems-fare/ Data obrashcheniya 15.02.19.
The Rise of fintech in China. URL: https://www.ey.com /Publication/vwLUAssets/ey-the-rise-of-fintech-in-china/ FILE/ey-the-rise-of-fintech-in-china.pdf Data obrashcheniya 25.02.19.
Tsai Kellee S. FinTech and Financial Inclusion in China// HKUST Thought Leadership Briefs No. 20. URL: https://iems.ust.hk/tlb20 Data obrashcheniya 26.02.19.
Webank. URL: https://www.webank.com/en/ Data obrashcheniya 15.02.19.
Why China Is Leading the Fintech Race. URL: http://knowledge. wharton.upenn.edu/article/why-china-leads-the-fintech-race/ Data obrashcheniya 15.02.19.
