Hangzhou, the capital of Zhejiang province, has led the way in financial technology, wealth management and cross-border payment in recent years.
Not only did it explore emerging industrial forms such as financial cloud computing platforms and blockchain technology, it also sought the integration of financial activities with the internet, data technology and artificial intelligence, said the city government.
Hangzhou is home to numerous fin-tech companies including Ant Financial, the operator of China’s biggest mobile payment tool——Alipay. With a valuation of around 1041.93 billion yuan ($150 billion), the enterprise topped the Hurun Global Unicorn List 2019.
Last year, the Global Center for Digital Finance was set up in the city.
The center aims to develop itself into an open platform sharing digital finance expertise and experience with all countries and provide technical support to the growth of digital finance in developing countries and emerging markets, said the local officials.