And they thought they were just getting started fintech companies in China are going to suffer mass consolidation in 2016 as the state sector takes over what has been a private-sector trend, according to J Capital Research.
In a January 4 report, the Hong Kong-based JCap predicted that falling returns on investments, new regulation and the lack of sustainable business models would force a sharp decline among China’s fintech players. This in turn is a harbinger of tough times for the country’s e-commerce players, including giants Alibaba, Baidu and Tencent.
State-owned banks, on the other hand, will be able to reassert dominance over all aspects...
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