Chinese Fintech App Downloads Breach 100 Billion, Exceed E-commerce Apps

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Fintech apps have emerged as one of the most downloaded apps on the Chinese market ahead of e-commerce apps.

Data from the Ministry of Industry and Information Technology (MIIT) indicates that monitored mobile apps on the Chinese market saw a net increase of approximately 420,000 to reach 4.49 million in total, driven by China’s “Internet +” campaign and efforts to “upgrade” domestic consumption.

The number of fintech apps increased to 140,000 in 2018 for an over 20% rise compared to the start of the year. Gaming apps are currently the most numerous category of mobile app in China at around 1.38 million in total, followed by lifestyle services (542,000) and e-commerce (431,000).

Fintech apps emerged as one of eight categories of apps on the Chinese market to enjoy over 100 billion downloads, following the distribution of over 1.8 trillion apps by third party app sellers as of the end of December.

The eight categories of apps included gaming apps (309.9 billion downloads), systems tools apps (303.7 billion downloads), audio-visual broadcasting apps (235.8 billion downloads), social media and communications apps (201.2 billion downloads), daily use apps (130.1 billion downloads), lifestyle services apps (118.9 billion downloads), fintech apps (106.7 billion downloads) and e-commerce apps (101.9 billion downloads).

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