Australian fintech companies to visit and see for themselves how China has embraced technology and is driving innovation.

Australian financial technology companies will have their sights set firmly on China during an Austrade delegation to Shenzhen and Shanghai on 21–23 March, 2017.

The emergence of China’s vibrant financial technology community is the result of rapid reform of its financial services sector, with innovation led by China’s tech giants such as Ant Financial, Baidu, Tencent and JD.com, as well as encouragement at all levels of the ecosystem by the Chinese Government.

During the program, eight Australian fintech companies will demonstrate their capabilities to Chinese counterparts and pitch to potential business partners.

“Technology is rapidly changing how markets operate, and nowhere else is this more evident than in China,” said Susan Corbisiero, Austrade Senior Trade Commissioner, Shanghai.

“This mission is a rare opportunity for Australian fintech providers to engage with leading Chinese fintech companies that have local and global reach,” Ms Corbisiero said.

“The best way to realise the opportunities China presents is for Australian fintech companies to visit the market and see for themselves how China has embraced technology and is driving innovation.”

The delegates will receive on-the-ground assistance from Austrade and advice on how to successfully operate in the Chinese market.

They will also have the chance to meet prospective customers, innovators and disruptors at networking events and through one-on-one business matching sessions.

The governments of Australia and China are both committed to building a thriving fintech ecosystem in their respective countries.

The Chinese Government is encouraging its banks, insurance companies and trusts to establish venture capital subsidiaries to invest in startups, and online financial products.