China’s global financial ranking on rise
2025-07-05 11:09 China Daily
Major economies globally are actively promoting the growth of the digital economy, and China's digital finance market is highly dynamic and ranks top in the world in terms of its market size, said Li Dongrong, former deputy governor of the People's Bank of China.
Last year, the market size of global digital finance exceeded $4.5 trillion, and China's digital finance market size reached $3.2 trillion, becoming an important engine driving global growth, according to industry research company ChinaIRN.
“China's development of digital finance technology, especially mobile payment technology, is globally leading. Leveraging on the growth of digital technology, China's financial services have effectively covered areas that were previously difficult to reach and the country has made effective breakthroughs in inclusive finance,“ Li said at the forum.
Chen Wenhui, former vice-chairman of the former China Banking and Insurance Regulatory Commission, said China's application of artificial intelligence technology in the financial industry is accelerating. The digital wave has brought and will bring comprehensive transformation to the economy and society. AI is on a track with high certainty, and the financial sector should pay close attention to it.
zhuwenqian@chinadaily.com.cn