TITLE:
A Study on the Impact of Financial Technology on Medium, Small and Micro Enterprises in China
AUTHORS:
Jiaxiao Chao, Zhibin Tao
KEYWORDS:
FinTech, Medium, Small and Micro Enterprises, Credit Services, Blockchain, Cryptocurrency, Cross-Border Payment, Digital Economy
JOURNAL NAME:
Modern Economy,
Vol.14 No.5,
May
29,
2023
ABSTRACT: This paper focuses on the impact of FinTech on Medium,
Small and Micro Enterprises (MSMEs) in China, firstly exploring the
application and development of FinTech in China’s credit services for MSMEs,
and then focusing on inclusive MSME lending by Chinese banking financial
institutions from 2015 to 2021. The paper
then analyses the development status and background of BTI. In order to
solve the problem of difficult and expensive financing for enterprises, the paper analyzes and summarizes two
feasible integration and innovation models: “blockchain + BTI” and “digital
economy + BTI”. Finally, by studying the relationship
between blockchain technology, cryptocurrency and cross-border payment
industry and enterprise operation, the working principle of blockchain
technology to enhance the efficiency of cross-border payment is analysed and
mapped out based on relevant literature and data.