China Overtakes US in Fintech Patent Filings, Bolstering Digital Finance
Summary
- China has overtaken the US to become the world’s top filer of financial technology, or fintech, patents over the past decade.
- Chinese banks and technology companies led the patent filings, strengthening the country’s competitiveness in digital finance.
- China’s competitiveness in digital finance areas including payments, lending, wealth management and cryptocurrencies has strengthened further.
Forecast Trend Report by Period
China has overtaken the US as the world’s top filer of financial technology patents over the past decade.
Walter Bloomberg reported on July 6 that Chinese banks and technology companies led the filings, strengthening the country’s competitiveness in digital finance. The gains were seen across payments, lending, wealth management and cryptocurrencies.
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