← Back to Volume 1

Study on the Empowerment of Inclusive Finance by Financial Technology in WeBank

Mingfang He, Jiajie Guo
pp.143-146 October 24, 2023
Download PDF
Abstract: The United Nations introduced the concept of inclusive finance in 2005, aiming to support economic entities from all social strata in need of financial services. In China, inclusive finance is of paramount importance due to challenges such as a large population, regional disparities, wealth inequality, and ongoing financing obstacles for small businesses and low-income individuals. The recent three years of the pandemic have exacerbated economic difficulties, highlighting the need for a focus on small and micro enterprises. This paper takes WeBank as its research subject to investigate a case study of its endeavors in the field of financial technology, specifically concerning the advancement of inclusive finance. This research not only holds substantial academic significance and provides a wealth of theoretical insights but also carries substantial practical importance for traditional banks aiming to achieve digital transformation and innovative development.
Keywords: Fintech; Inclusive Finance; WeBank; Small and Micro Enterprises.
APA Citation: APA citation not available (missing metadata).

References

  1. Abbasi, K., Alam, A., Du, M., et al. "FinTech, SME Efficiency and National Culture: Evidence from OECD Countries." Technological Forecasting and Social Change, 163, Article ID: 120454 (2021).
  2. Zhu, Taihui, and Chen Lu. "Research on the Potential Risks and Regulatory Responses of FinTech." Financial Regulation Research, 2016(07): 18-32.
  3. Berger, A. N., Goulding, W., Rice, T. "Do Small Businesses Still Prefer Community Banks." Journal of Banking & Finance, 44, 264–278 (2014).
  4. Zheng, Meihua. "Digital Inclusive Finance in Rural Areas: Development Models and Typical Cases." Rural Economy, 2019(03): 96-104.
  5. Xie, Lin. "Analysis of Innovative Models of Digital Inclusive Finance in Rural Areas under the Development of Digital Agriculture and Rural Areas." Agricultural Economics, 2020(11): 12-14.
  6. Li, Mingxian, and Li Qilan. "Research on Business Model Innovation of Inclusive Finance Driven by Financial Technology." Rural Financial Research, 2020(04): 10-15.
  7. Yang, Xuerong, and Li Luoyao. "Research on Credit Risk Management in Internet Banking." Hebei Enterprise, 2022(03): 98-100.
  8. He, Chao, Dong Wenhui, and Ning Aizhao. "Development and Regulation of Digital Inclusive Finance." China Finance, 2019(23): 66-67.