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Chinese Leadership in a New Age of Digital Technology

Chinese Leadership in a New Age of Digital Technology

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We stand on the brink of a technological revolution that will fundamentally alter the way we live, work, and relate to one another. China is leading the New Age of Digital Technology, especially FinTech. Yes, get to know what FinTech is—short for Financial Technology- it is changing China while the rest of the world has been caught sleeping. Today, the promise of fintech in China is great. It is shaking up a stodgy banking system and helping build a more efficient one, especially for consumers and small businesses. In China, E-Commerce via Wechat Pay and Alipay is transforming everyday citizens there to dispense with cash or credit cards as digital payments made through smartphones is used. Even people earn interest on their money stashed in their e-commerce bank accounts, often 3 points higher than in banks. China is leading the world in the Digital Age of Technology. Is this a hidden lesson to learn for us in Hawaii and in the U.S.?

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